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PCB | April 28, 2008

Mania Technologie declares insolvency

The management board of the Company will file today for insolvency proceedings with the competent local court of Bad Homburg v.d.H. due to over-indebtedness.
After intensive internal as well as expert examination the management board of the Company assumes that the Company is over-indebted in the meaning of Insolvency Law.

The insolvency filing of the Company has no direct or indirect impact on the German and foreign operating subsidiaries of the Company. At present, the Company is preparing an insolvency plan together with all participants which aims for the restructuring of the whole Mania group.

Due to the filing for insolvency the calling of the extraordinary shareholders’ meeting regarding the loss of half of the registered share capital as mentioned in the ad-hoc-announcement as of 18 April 2008 is not required any more and therefore the management board will not make that calling.

The world-wide operating subsidiaries are not affected by Mania Technologie’s file for insolvency. The operating companies will consequently not file for insolvency and at the present time there is no apparent reason for them to do so in the future. The individual subsidiaries will continue to operate in full. The planning process regarding the assets of Mania Technologie has no influence on these business activities.
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November 11 2018 12:47 pm V11.8.0-2