Last week, Weng Fine Art AG (WFA) was able to reach an agreement with a German pension fund that will take over part of its treasury stock as a long-term investment. The transaction will be executed directly after the Annual General Meeting, which will take place on August 24, 2021.

CEO Rüdiger K. Weng: 'By achieving a significant pension fund investment in WFA for the first time, we have reached another milestone. As a result of the sale, we are able to finance the investment in the 360X Art much earlier than expected - even before the payment is due and entirely from our own funds.

WFA will provide the remaining tranche of 50,000 shares of treasury stock to a U.S. securities trading firm, which will begin to build a shareholder base in WFA's primary market, the United States. If necessary, the WFA major shareholder will provide additional shares in a placement for the US.

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Weng Fine Art AG published this content on 23 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2021 12:23:03 UTC.