Meinl European Land Limited

euro adhoc: Meinl European Land Ltd.
Meinl European Land Limited: Ruling by FMA MEL received administrative ruling

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Company Information


Jersey, 11 July 2008. Meinl European Land Limited ("MEL") announced, that one of the board members had been served two administrative rulings. The rulings claim that MEL in the opinion of FMA had committed acts of market manipulation. The imposed fines under the rulings amount to EUR 50,000 in each case.

MEL takes the view that the FMA´s rulings are based on a completely inappropriate assessment of complex facts and circumstances. Consequently, the rulings use inconclusive arguments which are contradictory in themselves and will therefore not hold up against an appeal. Furthermore, filings to the defense of MEL's board member have been ignored completely, a fact that constitutes one of several serious procedural mistakes in the ruling. In addition, some of the issues and transactions have already been dealt with in the widely publicised ruling by the appeals tribunal (UVS). MEL's board member will therefore file an appeal against these rulings with the appeals tribunal in Vienna and will take all other available legal remedies against it.

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ots Originaltext: Meinl European Land Limited
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Meinl European Land Limited

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

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