Meinl European Land Limited

euro adhoc: Meinl European Land Ltd.
Meinl European Land: Announcement UVS confirms FMA rulings against MEL directors with limitations

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Company Information


Jersey, April 29th 2008. Meinl European Land ("MEL") announces that the "Unabhängige Verwaltungssenat Wien" (UVS) has orally issued a ruling in today´s appellate hearing against members of the Board of Directors in which the findings of the FMA ("Austrian Financial Market Authority") regarding the text of the ad-hoc release of July 27, 2007 were largely confirmed. However, the UVS explicitly limited the relevant period to the day of July 27, 2007, while the FMA had initially indicated a period from July 27, 2007 to August 23, 2007.

The members of the Board of MEL will, after service of the written ruling, appeal to the "Supreme Administrative Court" because of procedural mistakes in the proceeding and an erroneous interpretation of the law applicable to the complex set of facts.

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ots Originaltext: Meinl European Land Limited
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Further inquiry note:
Bernhard Hudik

Branche: Real Estate
ISIN:      AT0000660659
WKN:        066065
Index:    Standard Market Continous
Börsen:  Wiener Börse AG / official market

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