Marinomed Biotech AG applies for court restructuring proceedings without self-administration

Marinomed Biotech AG / ATMARINOMED6

EQS-Ad-hoc: Marinomed Biotech AG / Key word(s): Insolvency/Restructure of Company


13-Aug-2024 / 23:04 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Korneuburg, Austria, 13. August 2024 – Marinomed Biotech AG (VSE:MARI) announces to apply for the initiation of court restructuring proceedings. The aim is to carry out restructuring proceedings without self-administration.

As a result of the inability to raise funds required at short notice to secure the Company’s liquidity, insolvency is imminent. As announced, revenue expectations for the 2024 financial year could not yet be realized as planned. Aim of the restructuring proceedings without self-administration is to sustainably secure the Company’s financial stability according to a restructuring plan. For this purpose, besides restructuring measures, proceeds including from the realization of strategic options regarding the Carragelose business are intended to be used. The publication of the half-year financial statements planned for August 20, 2024, has been postponed.

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End of Inside Information

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13-Aug-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com

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Language:	English
Company:	Marinomed Biotech AG
	Hovengasse 25
	2100 Korneuburg
	Austria
Phone:	[phone]
E-mail:	[e-mail]
Internet:	www.marinomed.com
ISIN:	ATMARINOMED6
WKN:	A2N9MM
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Official Market)
EQS News ID:	1967439

End of Announcement	EQS News Service

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1967439  13-Aug-2024 CET/CEST