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Wednesday, August 21st, 2019

Fritz Nols AG reduces liabilities and Accruals

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by December 29, 2016 General

Berlin (pta010/29.12.2016/19:30) – Fritz Nols AG is looking back on some progress in the past financial year. It has succeeded in obtaining substantial reductions in liabilities. The last payment to the creditors from the insolvency proceedings was made. In addition, measures have been implemented which will significantly reduce operating costs in the future. The Board of Directors has succeeded in reducing the necessary provisions for contested liabilities while at the same time shortening actual payments by more than Eur 90,000 through successful negotiations. This corresponds to a reduction of the necessary provisions by approx. 30% without payment, i.e. cash outflow. Furthermore, during the course of the insolvency planning process, the Managing Board managed to almost double the originally accepted ratio of just under 30% to well over 50%, reflecting both the efforts and the successful implementation of the new strategy. Finally, the Board of Management has enabled the continuation and successful implementation of the future strategy by means of clever, profitable acquisitions, rigorous cost control and its uninterrupted willingness to take over equity replacements. Fritz Nols AG is prepared to realize its dual business model in agreement with technological and financial key partners and to conquer future markets.

Founded in 1975, Fritz Nols AG is a traditional German company group specializing in capital market advice on exchanges, M & A, issuance of corporate bonds from small and medium-sized enterprises. The entrepreneurs talk with us on the same level and we are interested in practical solutions. The focus of Fritz Nols AG and its corporate angels (interim managers) lies in ethical and morally sound and environmentally sustainable business models. The 100% subsidiary Da Vinci Invest AG manages investment funds in Singapore and Cayman Islands. The investment strategy Distressed & Special Situations (companies in difficult phases). Further investment strategies are in the area of high-frequency trading with specialization in Systematic Quantitative CTA (news-related algae systems). The dual business model of the Fritz Nols Group builds on a future which also includes contemporary electronic trading solutions. With the ongoing strategic expansion of its holdings by additional asset managers, Fritz Nols AG has not only drawn attention to its key partners. On the one hand, the Asset Manager is looking for the protective roof of this Fintech Group as well as its above-average potential for innovation and profitability in times of “investment crisis”. On the other hand, strategic partners are interested in a stake in the Fritz Nols Group.

Disclaimer

This document contains forward-looking statements on overall economic development as well as the business, earnings, financial and asset situation of Fritz Nols AG. These statements are based on current plans, estimates, forecasts and expectations of the company and are thus subject to risks and uncertainties that may cause the actual much expected from the development differs. The forward-looking statements to have the time of publication validity. The Fritz Nols AG does not intend to update the forward-looking statements and assumes no obligation. Furthermore, no guarantee for the future business development can be adopted. Maybe the records enter developments that lead to various projects as planned can not be realized or investments turn out to be a non-sense. The Fritz Nols AG assumes no liability.

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