DGAP-News: Weng Fine Art AG: CEO and founder Rüdiger K. Weng has management contract extended to 2016

DGAP-News: Weng Fine Art AG / Key word(s): Miscellaneous Weng Fine Art AG: CEO and founder Rüdiger K. Weng has management contract extended to 2016

04.02.2013 / 09:00

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Weng Fine Art AG: CEO and founder Rüdiger K. Weng has management contract extended to 2016

* Continuity of personnel safeguarded through the growth phase
* High transparency: management contract available to view on the website
* Company founder increases shareholding
* WFA shares included in Entry Standard Index

Continuity of leadership at Weng Fine Art AG (WFA) has been safeguarded for a further three years: At the start of the new financial year the company's founder Rüdiger K. Weng received a new management contract to keep him in his current role until 31 January 2016. This will cover the period during which the company is hoping to develop and expand into a leading company on the continental European art market. In line with the model of transparency used in Anglo-Saxon stock companies, the new management contract will be available to review with immediate effect on the Investor Relations pages of the company's website (www.wengfineart.com).

The contract does not provide for any management bonus so that the CEO, like the external shareholders, only participates in the financial success of this growth strategy by means of dividend payments and WFA share price rises. Rüdiger K. Weng has accordingly again increased his shareholding in the company by purchasing a further 10,000 WFA shares at a price near to the current market price. The company's founder and namesake now directly and indirectly (through his asset management company RKW Art + Asset Management GmbH) holds precisely 2 million shares. This represents a holding of 72.7 %.

Starting this Monday, the WFA share will also be traded on the Xetra electronic trading platform, in addition to the Frankfurt and Berlin stock exchanges. 'On the one hand, we are thus expanding the pool of potential investors, and on the other hand this Xetra listing will stimulate market liquidity in the medium term,' explains WFA CEO Rüdiger K. Weng, and refers to the fact that since the start of last year, the listed art trading companies has become one of the most active shares in the small cap segment on the Frankfurt stock exchange.

Accordingly, WFA has also joined the top 30 index of this market segment focused on growth stocks, where it is currently the strongest weighted share due to performance effects.

ABOUT WENG FINE ART AG

Weng Fine Art AG (www.wengfineart.com) is one of the highest-capitalized and fastest-growing European art traders, focusing on blue chip artists of the 20th century. In its core business, the company uses a B2B business model and mainly serves commercial counterparties, among them the world's leading auction houses. Moreover, Weng Fine Art's expertise and market position are the basis for the currently implemented expansion into new activities such as e-commerce and editions. The company's shares have been trading at Frankfurt Stock Exchange (Entry Standard) since 2 January 2012.

INVESTOR RELATIONS CONTACT DETAILS

edicto GmbH Axel Mühlhaus Eschersheimer Landstr. 42 | D-60322 Frankfurt a.M. Phone +49(0)69 905505-52 | Fax +49(0)69 905505-77 E-mail amuehlhaus@edicto.de


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04.02.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Weng Fine Art AG
Kimplerstraße 294
47807 Krefeld
Germany
Phone: 02151 937130
Fax: 02151 93713-29
E-mail: art@wengfineart.com
Internet: www.wengfineart.com
ISIN: DE0005181606
WKN: 518160
Listed: Open Market (Entry Standard) in Frankfurt


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200417 04.02.2013

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Firmenname: Weng Fine Art AG; Land: Deutschland; VWD Selektoren: 1E;