An appeal may be lodged against the administrative fine order.

Background information:

Financial reports provide information on companies’ assets, financial position and results of operations. This information is important to investors because it allows them to make informed investment decisions.

Companies such as ADLER Real Estate GmbH that are domiciled in Germany and issue securities that are traded on an organised market in Germany must publish an announcement about the date from which and the website where their annual financial reports and half-yearly financial reports are made publicly available, in addition to their availability in the company register.

For annual financial reports, the announcement must be published no later than four months after the end of each reporting period and before the annual financial report; for half-yearly financial reports, the announcement must be published no later than three months after the end of each reporting period and before the half-yearly financial report.

Failure to publish financial reports and announcements stating when and where these reports are made publicly available, or failure to publish such reports and announcements within the prescribed period, constitutes a contravention of sections 114 et seq. of the WpHG. BaFin may in each case impose administrative fines on companies that fail to comply with this obligation. The maximum amount for this fine is 10 million euros or up to 5% of total revenue.