DF Deutsche Forfait AG: Ulrich Wippermann resigns from Board of Management

27Feb2014

Ulrich Wippermann has resigned from the Board of Management of DF Deutsche Forfait AG (Prime Standard, ISIN: DE0005488795) with immediate effect. His employment relationship with DF Deutsche Forfait AG was terminated simultaneously.  These actions follow the February 6, 2014 designation of Mr. Wippermann and DF Deutsche Forfait AG on the US Treasury Department’s Office of Foreign Assets Control’s (OFAC) list of Specially Designated Nationals and Blocked Persons (SDN List) and are part of the company’s continuing efforts to resolve this matter with OFAC as quickly as possible based on remediation of possible sanctions risks relating to Iran. Deutsche Forfait AG is not aware that the company nor Mr. Wippermann have committed violations of US sanctions law and look forward to continue the process with OFAC with the goal of removal from the SDN List.

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