Branicks - comment

At today’s AGM, the VIB supervisory board will be doing anything it can to avoid the appointment of a special auditor. We expect the minority shareholder proposals to be defeated. The Supervisory Board has rejected the minority shareholder claims that Branicks forced VIB management into real estate transactions and that a loan to Branicks was not in the interest of VIB. A further sale of Real Estate assets to VIB from Branicks was announced last week; the management board would only have completed that deal if they were confident that no special auditor appointment was imminent. We will update you tomorrow after the AGM results.