Baden-Baden, September 15, 2020: GRENKE AG, a global financing partner for small and medium-sized enterprises, is the subject of a report published today by Viceroy Research, a platform founded by the short-selling investor Fraser Perring. This report contains allegations which GRENKE strongly rejects.
A central accusation is that a substantial portion of the EUR 1,078 million in cash and cash equivalents reported in the 2020 half-year financial report does not exist. This is demonstrably false. EUR 849 million, which is almost 80% of the cash and cash equivalents, were held in Deutsche Bundesbank accounts on June 30, 2020 as published in the 2020 half-year financial report. As of today, the credit balance at the Bundesbank amounts to EUR 761 million.
In addition, the 64-page report contains numerous other unfounded allegations. GRENKE AG is currently also preparing a detailed reply to these accusations and will respond to them.
GRENKE reserves the right to take legal action and will initiate such action accordingly.