Hess AG
Hess AG: Suspicion of Manipulation of Balance Sheets
Hess AG / Key word(s): Legal Matter/Change of Personnel 21.01.2013 16:37 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Hess AG: Suspicion of Manipulation of Balance Sheets Villingen-Schwenningen, this 21 January 2013 - Internal researches at Hess AG ('Hess AG' or the 'Company') have revealed that the Company has probably been, with the knowledge of the management board, in continuous breach of accounting rules for a remarkable period of time. It is, inter alia, suspected that Hess AG has at least since the year 2011 accounted for not existing revenue and income. Accordingly, it is likely that in the financial statements of the Company for the years 2011 and 2012 sales revenues were accounted for which were actually not achieved, and that also the financial situation of the Company was described too positively. In an extraordinary meeting of the supervisory board of the Company which was called for today, Monday, 21 January 2013, the supervisory board has revoked the appointment of the two members of the management board of Hess AG and has terminated their service agreements for good cause with immediate effect. In addition, in his meeting as of today, the supervisory board has appointed Dr. Till Becker with immediate effect as member of the management board of the Company. Equally, in his meeting as of today the supervisory board has resolved to execute with im-mediate effect an economic and legal special investigation of the Company by independent auditors and lawyers, in order to determine the exact amount of a potential damage and cor-responding legal claims. The Management Board 21.01.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Hess AG Lantwattenstraße 22 78050 Villingen-Schwenningen Germany Phone: +49 7721 920 0 Fax: +49 7721 920 250 E-mail: hess@hess.eu Internet: www.hess.eu ISIN: DE000A0N3EJ6 WKN: A0N3EJ Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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