Adler Group S.A.: Adler Group: Interim status of comprehensive review by KPMG Forensic
Adler Group S.A. / Key word(s): Miscellaneous Publication of a notice pursuant to Article 17 (1) of the Market Abuse Regulation (Regulation (EU) No. 596/2014) -------------------------------------------------------------------------------- Luxembourg, March 10, 2022 - ADLER Group S.A. ("ADLER") announces that KPMG Forensic has provided the Company with an interim status of its comprehensive review of allegations of a short seller. The investigation is being continued. KPMG is not able to refute the allegations made regarding the transactions with and influence on ADLER by alleged related parties due to currently available data. The allegations regarding the recoverability of ADLER's residential portfolio have all been refuted. The allegations regarding the development portfolio have only been partially refuted to date. Value differences in the development portfolio are currently being jointly reviewed further. KPMG's loan-to-value (LtV) calculations based on the balance sheet data published in the respective financial reports as of the respective end of quarter of the years 2019 and 2020 in accordance with the bond terms and conditions did not lead to the alleged exceeding of the LtV thresholds specified in the bond terms and conditions. These calculations are further refined based on several scenarios. Grand Duchy of Luxembourg, 10 March 2022 ADLER Group S.A. 10-March-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Adler Group S.A. |
| 1B Heienhaff | |
| 1736 Senningerberg | |
| Luxemburg | |
| Phone: | +352 278 456 710 |
| Fax: | +352 203 015 00 |
| E-mail: | investorrelations@adler-group.com |
| Internet: | www.adler-group.com |
| ISIN: | LU1250154413 |
| WKN: | A14U78 |
| Indices: | SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX |
| EQS News ID: | 1299985 |
| End of Announcement | DGAP News Service |