Marbert Holding AG
Marbert files bankruptcy
Marbert Holding AG / Key word(s): Insolvency 18.05.2011 13:24 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. --------------------------------------------------------------------------- Marbert files bankruptcy Duesseldorf, 18th May 2011, the Management Board of Marbert Holding AG and Marbert Cosmetics GmbH, a wholly owned subsidiary company of Marbert Holding AG, hereby announces that today, both companies have filed petitions in bankruptcy with the Duesseldorf bankruptcy court. Mr. Fernando Di Filippo, Jr., the managing director of both companies since September 2010, who has made an investment of EUR 10 million through his own investment vehicle DMC Holding AG, will work closely with the insolvency administrator to try and save as many jobs at Marbert Cosmetics GmbH as possible. Marbert Holding AG has been in economic and financial distress for more than ten years now and the company was confronted with serious liquidity problems especially during the past 12 months. Therefore, the company's management was continuously looking for new investors to provide additional cash and improve the company's financial position. In October 2010, Mr. Di Filippo, Jr. completed negotiations with a young German entrepreneur, Mr. Stephan T. Schubert, to invest in Marbert Holding AG and to assume primary responsibility for the financial restructuring and turn around of the company. Mr. Schubert's private investment company, STS, signed a binding agreement with DMC Holding to invest EUR 2 million in new equity and to provide Marbert Holding AG with an additional EUR 500,000 loan through the purchase of products. On February 22, 2011, an extraordinary meeting of shareholders of the company adopted the necessary resolutions to facilitate that investment through a capital increase in cash. By the end of February 2011, Mr. Schubert informed Mr. Di Filippo, Jr. that he withdraws from this agreement. Since then, the management has been in emergency negotiations with various German investment groups to determine whether an alternative investor to Mr. Schubert may be found for Marbert Holding AG. Such negotiations recently failed and the only remaining option Marbert Holding AG and Marbert Cosmetics GmbH was to file for bankruptcy under German law. Mr. Di Filippo, Jr. as Managing Director of Marbert Holding AG and Marbert Cosmetics GmbH has formally filed a criminal complaint to review the conduct and management of the former management and controlling shareholders of both companies to determine whether such conduct and management was illegal under German law and whether criminal charges should be filed against such managers and / or controlling shareholders. For any further information, please contact: Marbert Holding AG Bonner Str. 155 40589 Düsseldorf Tel.: +49 211 79 53-205 Fax: +49 211 79 53-183 18.05.2011 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: Marbert Holding AG Bonner Straße 155 40589 Düsseldorf Deutschland Phone: 0211-7953-0 Fax: 0211-7953-222 E-mail: info@marbert.de Internet: www.marbertfinance.com ISIN: DE000A0S84W0 WKN: A0S84W Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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