Marenave Schiffahrts AG: Offen Group and DEVK commit themselves to the Investment Agreement and point out risks in the event that the proposed capital reduction will not be adopted
Yesterday, Marenave Schiffahrts AG (Marenave or Company) has received a joint declaration from CPO Investments GmbH & Co. KG (Offen Group) and DEVK Allgemeine Versicherungs-Aktiengesellschaft (DEVK; together with Offen Group the Investors). By this joint declaration the Investors commit themselves to the Investment Agreement concluded with the Company (cf. ad-hoc-disclosure of 20 February 2017). At the same time, the Investors underline the necessity to adopt the capital reduction as proposed for the Company's annual general meeting in order to implement the agreed restructuring concept. In the event that the Company's annual general meeting will not adopt the proposed capital reduction, the Investors will consider the restructuring concept of the Investment Agreement as failed and will no longer pursue it. The Management Board and the Supervisory Board of the Company appreciate the Investors' explicit confirmation of their contribution to a successful restructuring concept outside insolvency for the Company. Moreover, as already pointed out in the joint statement by the Management Board and the Supervisory Board on Ernst Russ AG's motion to supplement the agenda for the annual general meeting and on its counterproposals (cf. under http://www.marenave.com/investor-relations/hauptversammlungen/2017.html), the Management Board and the Supervisory Board again emphasize, that dramatic consequences for the Company are to be feared in case that the proposed capital increase will not be adopted or in case that the resolution will be postponed. Against this background, the Management Board and the Supervisory Board again invited Ernst Russ AG to a constructive dialogue on the restructuring of the Company.
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Company: Marenave Schiffahrts AG Valentinskamp 24 20354 Hamburg
Germany Phone: 040 / 28 41 93 0 Fax: 040 / 28 41 93 297 E-mail: email@example.com Internet: www.marenave.com ISIN: DE000A0H1GY2 WKN: A0H1GY Listed: Regulated Market in Hamburg; Regulated Unofficial Market in Berlin, Munich; Open Market in Frankfurt End of News DGAP News Service