EQS-Media / 12/28/2023 / 11:44 CET/CEST PRESS RELEASE FROM KA FINANZ AG Dismantling of KA Finanz AG successfully completed – entry into liquidation Board of Directors of KF: “Accelerated dismantling has ended – with substantial reversals of value and cost savings for Austrian taxpayers and taxpayers” Vienna (December 28, 2023) – The Financial Market Authority (“FMA”) as the national resolution authority has, in a legally binding decision dated today, determined the termination of the operations of KA Finanz AG (“AG”) as a wind-down company and thus approved the dismissal of the KF granted from the BaSAG regime. This is a prerequisite for KF to enter liquidation under stock corporation law on January 1, 2024; the company receives the addition “iA” (in liquidation). Mr. Mag. Thomas Kainz was appointed as the liquidator of the company. When the bank license was revoked at the end of 2017, the supervisory board approved the KF wind-down plan drawn up by the board of directors with a term until the end of 2026. The sustained strategy of focused and rapid reduction of risky positions made it possible to shorten the reduction horizon by three years to the end of 2023 in 2021. After the portfolio was finally adjusted to include financing outside the low-risk core region of Austria – Germany – Switzerland (so-called DACH region), the DACH portfolio was transferred as planned to ABBAG – Federal Mining Investment Company (“ABBAG”) in June 2023. Following the substantial simplification of the portfolio during the wind-down, it is now managed much more cost-effectively there. Board spokeswoman Gabriele Müller: “The dismantling result was significantly improved compared to the original planning. As part of the portfolio transfer to ABBAG, price discounts of at least EUR 160 million that a sale on the market would have entailed were avoided. This preservation of value ultimately benefits Austrian taxpayers. We would like to thank the entire KF team for the excellent implementation in challenging times.” Board member Helmut Urban: “The successful dismantling of KF proves the effectiveness of the legal and regulatory framework for bank resolution in Austria. This success was made possible in particular by the support and excellent cooperation with ABBAG and the Austrian Federal Financing Agency (OeBFA), especially in the financing area.” Chairman of the Supervisory Board Stephan Koren: “It shows that the accelerated reduction was successful. I congratulate and express my thanks to the board and employees.” Inquiry note: KA Finanz AG Tel.: +43 (0) 664 815 621 E-mail: info@kafinanz.at End of press release ══════════════════════════════════════ ══════ ══════════════════════════════ Issuer/Publisher: KA Finanz AG Keyword(s): Finance 12/28/2023 CET/C EST release a press release sent by EQS Group AG. www.eqs.com
═════════════════════════════════════════ ═════════ ════════════════════════ Language: German Company: KA Finanz AG Taborstraße 1-3 1020 Vienna Austria Telephone: +43 1 310 06 06 Email : info@kafinanz.at
Internet: https://www.kafinanz.at/DE/Homepage.aspx
ISIN: XS0279423775, XS0236776877,