TV-Loonland AG

EANS-Adhoc: TV-Loonland AG
Ad-hoc-Release in accordance with § 15 WpHG: TV-Loonland AG files for insolvency

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9. December 2009 Munich insolvency court decided that TV-Loonland AG has to go under preliminary administration and mandated Attorney at law Dr. Ott as preliminary administrator.

Due to the fact that the company´s shareholders repeatedly refused approval of a share consolidation on 19th November 2008 and 26th November 2009, TV-Loonland was not able to raise cash through an equity injection. Therefore the company cannot clear all debts on the respective due dates.

Effective today, TV-Loonland appoints Dr. Michael Briem as its new CEO. At the same time, Dr. Briem quits the company´s supervisory board. The CEO strongly believes that the value of the company´s assets exceed all open debts and is working closely with the preliminary administrator in order to further maximise the value of these assets.

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ots Originaltext: TV-Loonland AG
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Further inquiry note:
TV-Loonland AG
Tel.: +49(0) 89205080

Branche: Media
ISIN:      DE0005348403
WKN:        534840
Index:    Prime All Share
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              München / free trade

Weitere Meldungen: TV-Loonland AG

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