Ad hoc annnouncement – DF Deutsche Forfait AG: Changes on Board of Management and Supervisory Board

• Behrooz Abdolvand elected new Board of Management Chairman
• Franz Josef Nick to become new Supervisory Board member

Gruenwald, 11 October 2017, 17:01 CET/CEST – The Supervisory Board of DF Deutsche Forfait AG (ISIN share: DE000A2AA204, ISIN bond: DE000A1R1CC4) today appointed Dr. Behrooz Abdolvand for initially one year as new Chairman of the company’s Board of Management with effect from 1 November 2017. Dr. Abdolvand has so far served on the Supervisory Board of the company. In his new capacity on the Board of Management, Dr. Behrooz Abdolvand will primarily be responsible for Strategy and Sales. Dr. Abdolvand has long-standing and in-depth knowledge of DF Group’s target markets in the Near and Middle East, especially Iran.

In connection with this appointment to the Board of Management, Dr. Abdolvand today resigned from his post as member of the Supervisory Board with effect from 31 October 2017. The company has been able to sign up Mr Franz Josef Nick as successor to Dr. Abdolvand on the Supervisory Board. Mr Nick is a lawyer and a very experienced banker who in his last position served as Chairman of the Board of Management of TARGO Bank. Mr Nick is to be initially appointed by a court order at the request of the Board of Management (section 104 (1) of the German Stock Corporation Act (AktG)) until the company’s next ordinary Annual General Meeting, which will then decide on his further appointment. The company expects the court to fulfill the request to appoint Mr Nick.