DGAP-News: Weng Fine Art AG sets up Company for Services and opens up new Segment


DGAP-News: Weng Fine Art AG / Key word(s): Miscellaneous/Miscellaneous
Weng Fine Art AG sets up Company for Services and opens up new Segment

29.08.2014 / 09:00

---------------------------------------------------------------------

August 29, 2014

Press Release

Weng Fine Art AG sets up Company for Services and opens up new Segment

Weng Fine Art AG is expanding, as announced, in the services business
around high-end art. These activities will be bundled into the subsidiary
WFA Fine Art Services GmbH, which will be registered with a share capital
of 500.000 CHF in Zug/Zurich, which is particularly suitable for
international business. In parallel, an office for this company will be
established in Krefeld to serve customers in Germany.

Through this Services Company, WFA develops - without a large capital
outlay and without significant start-up costs - an additional platform to
expand its service offering in the arts. The focus will be on the active
management of private and commercial collections, and specifically towards
the needs of financial institutions, insolvency administrators and
inheritance advisors. WFA is thereby entering a new attractive segment of
the art market.

A quantification of the associated new business revenues and expectations
will be given in the beginning of 2015. However, the Management is
confident that WFA Fine Art Services will already provide positive
contributions to earnings in 2015. Moreover, synergies with other business
areas of the WFA Group are foreseeable.

ABOUT WENG FINE ART AG

Weng Fine Art AG (www.wengfineart.com), headquartered in Krefeld and with
subsidiaries in Switzerland, is a leading international art trading and
consulting company. The founder-led company combines long-standing
expertise in the art market with business know-how. Other success factors
are the inventory focused on artworks of the 20th and 21st centuries, as
well as access to attractive financing options. On this basis, WFA
continuously builds its operational activity and regional presence, and
addresses new segments in the art market such as art e-commerce. Weng Fine
Art AG is listed on the Entry Standard of the Frankfurt Stock Exchange.

INVESTOR RELATIONS CONTACT

Weng Fine Art AG
c/o edicto GmbH, Axel Mühlhaus 
Eschersheimer Landstr. 42 | 60322 Frankfurt a.M. 
Telefon +49 (0)69 905505-52 | Telefax +49 (0)69 905505-77 
E-mail amuehlhaus@edicto.de 



---------------------------------------------------------------------

29.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------


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:      Freiverkehr in Berlin; Frankfurt in Open Market (Entry  
             Standard)                                               
 
 
End of News    DGAP News-Service  
---------------------------------------------------------------------  
284588 29.08.2014