Albis Leasing AG: BaFin Imposes Administrative Fine

Annual financial reports are available in the Company Register. However, companies must announce when and where their financial reports are also published.

The company may lodge an appeal against the administrative fine order.

Background information:

Annual financial reports provide information on companies’ assets, financial position and results of operations. This information is important to investors because it allows them to make informed investment decisions. Companies such as Albis Leasing AG that are domiciled in Germany and that issue securities that are traded on an organised market in Germany must publish an announcement about the date from which and the website where, in addition to the Company Register, their annual financial reports are made publicly available.

This announcement must be published no later than four months after the end of each financial year and before the date when the accounting documents are made publicly available for the first time. Failure to publish such an announcement within the prescribed period constitutes a contravention of section 114 (1) sentence 2 of the WpHG. BaFin may impose administrative fines on companies that fail to comply with this obligation. The maximum amount for this fine is 10 million euros or up to 5% of total revenue.