VALENS Holding AG (today: Defraq Ventures AG) has infringed the obligations of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). It has failed to publish the required annual financial information for the financial year 2021. Furthermore, Defraq Ventures AG has failed to publish the half-yearly financial report for the financial year 2022.

The order is immediately enforceable but is not yet final and binding.

Update (19.04.2023): The notice is final and binding.

BaFin makes this publication in accordance with section 124 of the WpHG.

Background information:

Financial reporting requirements

Undertakings such as Defraq Ventures AG, that have their registered offices in Germany and issue securities on the organised market here, are required to prepare annual financial information at the end of every financial year. These must be made available to the public four months after the end of the respective financial year at the latest. This is stipulated in section 114 (1) sentence 1 of the WpHG.

The WpHG also requires undertakings to prepare a half-yearly financial report (section 115 of the WpHG). This must be made available to the public three months after the end of the respective reporting period at the latest.

Before each publication, the undertaking is required to inform the public and BaFin by way of a formal announcement about the date from which and the website where the information will be made publicly available (section 114 (1) sentences 2 and 3 and section 115 (1) sentences 2 and 3 of the WpHG).