DGAP-News: Weng Fine Art AG: Majority shareholder Rüdiger K. Weng signs contract for lock-up until 2016
(firmenpresse) - DGAP-News: Weng Fine Art AG / Key word(s): Miscellaneous
Weng Fine Art AG: Majority shareholder Rüdiger K. Weng signs contract
for lock-up until 2016
21.03.2013 / 08:45
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Weng Fine Art AG: Majority shareholder Rüdiger K. Weng signs contract for
lock-up until 2016
* Voluntary lock-up for 1.65 million shares owned by the company founder
* 60 percent of the current share capital not available for the market
until 31 January 2016 earliest
* Long-term lock-up underlines the trust of the founder in the future of
the company
Rüdiger K. Weng, Founder and CEO of Weng Fine Art AG (WFA), is offering for
the largest part of his shares in WFA a voluntary lock-up. In accordance
with the contract signed yesterday, the sale of a total of 1.65 million
shares owned by the majority shareholder is blocked until 31 January 2016.
Therefore, 60 percent of the entire share capital of WFA cannot be sold
either on or off-exchange for the next ca. three years.
'We would like to further develop WFA into a leading integrated art
business during the next couple of years, and in this transformation phase
I would like to send a sign of confidence especially to longer-term
investors', explains Rüdiger K. Weng with regard to the unusually long
lock-up period. The fact that a major part of his private assets is now
committed for several years further underscores the extent to which the
company's founder is convinced of the long-term outlook of Weng Fine Art
and its shares.
Weng's lock-up obligation was presented to both the company and WGZ BANK as
the company's Designated Sponsor and capital markets partner. Included in
the lock-up are 800,000 WFA shares held privately by Rüdiger K. Weng and
850,000 shares owned by his private holding company, RKW Art+Asset
Management GmbH. The original agreement can be viewed on the company's
website from March 22 on.
ABOUT WENG FINE ART AG
Weng Fine Art AG (www.wengfineart.com) is one of the most dynamic and
financially strongest art dealerships on the European continent. The
company focuses on works of internationally renowned artists from the 20th
century and, in its core business, exclusively supplies commercial
addresses (B2B). The expertise and market positioning gained over more than
18 years serves as a basis for new business segments such as e-commerce and
editions. Weng Fine Art AG shares are traded on the Frankfurt Stock
Exchange (Entry Standard) since 2 January 2012.
INVESTOR RELATIONS CONTACT DETAILS
edicto GmbH
Axel Mühlhaus
Eschersheimer Landstr. 42 | D-60322 Frankfurt a.M.
Phone +49(0)69 905505-52 | Fax +49(0)69 905505-77
E-mail amuehlhaus(at)edicto.de
End of Corporate News
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21.03.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Weng Fine Art AG
Kimplerstraße 294
47807 Krefeld
Germany
Phone: 02151 937130
Fax: 02151 93713-29
E-mail: art(at)wengfineart.com
Internet: www.wengfineart.com
ISIN: DE0005181606
WKN: 518160
Listed: Frankfurt in Open Market (Entry Standard)
End of News DGAP News-Service
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204686 21.03.2013
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Datum: 21.03.2013 - 08:45 Uhr
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