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JoWooD Entertainment AG

EANS-Adhoc: JoWooD Entertainment AG applied for a procedure of capital reorganization at the Commercial Court Vienna in accordance with Art. 167 IO/ Insolvency Statute

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
07.01.2011
The management board of JoWooD Entertainment AG announces that all 
efforts towards restructuring of capitalization concerning outside 
capital as well as equity capital had to be considered as failed on 
06/01/2011.
On the basis of this fact, material insolvency occurred with this 
date.
Therefore today, JoWooD Entertainment AG applied for a procedure of 
capital reorganization at the Commercial Court Vienna in accordance 
with Art. 167 IO/ Insolvency Statute.
Bond creditors of the 10% bond 2007-2011 (ISIN:  AT0000A05TV0) are 
asked to report directly to the company (see queries reference) to be
able to coordinate their rights.
The management board assumes that negotiations with creditors and 
possible investors can be positively conducted and finalized within 
90 days and thus continuation of the company can be assured.
end of announcement                               euro adhoc

Further inquiry note:

JoWooD Entertainment AG
Ing. Mag. Franz Rossler, Vorstand
Mag. Philipp Brock, Investor Relations
Tel.: +43 (0)1 37909
mailto:investor@jowood.com
http://corporate.jowood.com

Branche: Software
ISIN: AT0000747357
WKN: 935221
Index: WBI, ViDX, mid market
Börsen: Berlin / free trade
Frankfurt / free trade
Stuttgart / free trade
München / free trade
Wien / Regulated free trade

Plus de actualités: JoWooD Entertainment AG
Plus de actualités: JoWooD Entertainment AG