DGAP-News: SCHIRP & PARTNER Rechtsanwälte mbB: WIRECARD: too many unanswered questions - German law firm Schirp & Partner demands the appointment of special auditor (deutsch)

SCHIRP & PARTNER Rechtsanwälte mbB: WIRECARD: too many unanswered questions - German law firm Schirp & Partner demands the appointment of special auditor

DGAP-News: SCHIRP & PARTNER Rechtsanwälte mbB / Schlagwort(e):
Rechtssache/Hauptversammlung
SCHIRP & PARTNER Rechtsanwälte mbB: WIRECARD: too many unanswered questions
- German law firm Schirp & Partner demands the appointment of special
auditor

21.10.2019 / 17:11
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.

Wirecard: too many unanswered questions -
German law firm Schirp & Partner Rechtsanwälte demands the appointment of
special auditor under section 142 of the German Stock Corporation Act

German fintech group Wirecard has failed to answer urgent questions raised
by the Financial Times, especially in recent articles published on Tuesday
and Wednesday last week. The Financial Times has unearthed documents that
seem to show 34 key clients of Wirecard's Dubai subsidiary, equivalent to
one quarter of Wirecard group's reported turnover and half its EBITDA for
fiscal year 2016, who as per the Financial Times' reporting have in part
ceased operations and in part could not confirm a business relationship with
the company. Wirecard has responded rather lamely to these allegations,
denying all impropriety but refusing to go into the details and state
specifically which particular allegation it considers untrue. Most
astonishingly, Wirecard has claimed that the 34 companies mentioned by the
Financial Times were "labels of customer clusters", each cluster aggregating
hundreds of individual genuine clients. This explanation has in itself
raised eyebrows around the globe and does not seem to satisfy common
financial reporting standards.

Wirecard has since then named KPMG as its own auditor to look into the
matter. Leading German lawyers feel that this is not nearly enough. Dr.
Wolfgang Schirp from Schirp & Partner Rechtsanwälte mbB in Berlin: "In the
current situation, an independent auditor is needed. Investors cannot
confide in someone who reports to the Wirecard board. Therefore, we are
assembling a group of investors to force the appointment of a special
auditor under section 142 of the German Stock Corporation Act. This special
auditor will independently examine the matter and report to shareholders. To
reach the quorum of 1/20 of Wirecard's capital needed under section 122 of
the German Stock Corporation Act, we welcome participation by as many
shareholders as possible".

For further information and for participation, please contact:
Dr. Wolfgang Schirp, Schirp & Partner Rechtsanwälte mbB,
Leipziger Platz 9, D - 10117 Berlin, Germany,
Tel. [phone], Fax [phone],
mail: [e-mail] URL: www.schirp.com

21.10.2019 Veröffentlichung einer Corporate News/Finanznachricht,
übermittelt durch DGAP - ein Service der EQS Group AG.
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.

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893601 21.10.2019

	AXC0224    2019-10-21/17:12