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Statement On The Publication Of An Examination Order By BaFin Dated July 15, 2022
DEUTSCHE KONSUM REIT-AG
(Incorporated in the Federal Republic of Germany)
(Registration number HRB 13072)
FSE Share Code: A14KRD
JSE Share Code: DKR
ISIN: DE000A14KRD3
LEI: 529900QXC6TDASMCSU89
(“DKR” or “the Company”)
STATEMENT ON THE PUBLICATION OF AN EXAMINATION ORDER BY BAFIN DATED JULY 15, 2022
Potsdam, July 19, 2022 - On July 15, 2022, BaFin published an examination order against
DKR for the disclosed separate financial statements according to international accounting
standards as of September 30, 2021 and the related management report.
The reason for the BaFin order is the accounting treatment of loan agreements with a
shareholder and the accounting treatment of loans acquired via a fintech in the Company's
IFRS separate financial statements as of September 30, 2021, which, in the opinion of BaFin,
may not be fully and correctly recognized and reflected.
DKR comments on this as follows:
The matters to be examined by BaFin relate to short-term investments of liquid funds with the
main shareholder Obotritia Capital KGaA, Potsdam, and via Creditshelf AG, Frankfurt, which
DKR has used to date to invest surplus liquidity from property sales, refinancing and current
cash flow on a temporary and interest-bearing basis if the current real estate acquisition
pipeline does not contain any currently attractive acquisition targets.
In the opinion of DKR, the loan receivables were accounted for and presented in the relevant
financial statements in accordance with the applicable accounting standards. Furthermore,
comprehensive and transparent disclosures were made in the notes to the financial
statements on an ongoing basis. In this connection, the Company also refers to the audited
annual financial statements of the Company, which have been issued with unqualified audit
opinions.
DKR is in communication with BaFin and cooperates fully in this regard.
About Deutsche Konsum
DKR is a listed real estate company focusing on German retail properties for everyday goods
in established micro-locations. The focus of the Company's activities is on the acquisition,
management and development of local retail properties with the aim of achieving a steady
increase in value and the lifting of hidden reserves.
Due to its German REIT status ('Real Estate Investment Trust'), the Company is exempt from
German corporation and trade tax. The shares of the Company are listed on the Prime
Standard of Deutsche Börse (ISIN: DE 000A14KRD3) and on the JSE (JSE Limited) (South
Africa) by way of a secondary listing.
Contact:
Deutsche Konsum REIT-AG
Stefanie Frey
Investor Relations
E-Mail: sf@deutsche-konsum.de
Phone: +49 (0) 331 74 00 76 – 533
Potsdam, 19 July 2022
JSE Sponsor
PSG Capital
Date: 19-07-2022 05:50:00
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