Branicks - comment

The request by a minority shareholder for a special auditor at VIB to investigate the €250m loan (maturing in July 2025) to Branicks is a negative for the creditors. The appointment of a special auditor would not impact Branicks immediately but would bring any further transactions between the two companies under heavy scrutiny. 

 Mann AM (a 10.74% shareholder) is querying the actions of the executive board in granting the loan. VIB took legal opinions on granting the loan and the security to ensure no economic disadvantage to the company. The proposal for an auditor will be discussed at the VIB AGM on 14th August. 

https://vibag.de/downloads/IR/VIB%20Vermoegen%20AG_oHV%202024_Requests%20for%20additions%20to%20the%20Agenda_Mann%20Vermoegensverwaltung%20eGbR_EN.pdf (Link to AGM resolution and Board response)