SLEEPZ AG
DGAP-Ad-hoc: SLEEPZ AG / Key word(s): Miscellaneous SLEEPZ AG: Sam Stil-Art-Möbel GmbH files an application for the opening of insolvency proceedings Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 Berlin, 20th May 2019 - The Management of the Sam Stil-Art-Möbel GmbH, a 75,1 % subsidiary of the SLEEPZ AG (ISIN DE000A2E3772), informed the Executive Board of SLEEPZ AG today, that the Management filed an application for the opening of an insolvency proceeding for Sam Stil-Art-Möbel GmbH due to insolvency. The reason for this insolvency is further liquidity needs of Sam Stil-Art-Möbel. Due to the tight liquidity situation of the SLEEPZ AG it cannot cover the financing requirements of Sam Stil-Art-Möbel. The negotiations between SLEEPZ AG and WAOW Entrepreneurship GmbH regarding the stock options agreements concluded on March 28, 2019 and thus regarding a takeover of the SLEEPZ AG is in process. In the event that these discussion cannot be concluded in a timely manner the Executive Board is currently examining various options for action, including ther orderly lliquidation of the company or the filling of an insolvency petition. A continuation of the group in its present form is not possible due to the lack of financing.
21-May-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | SLEEPZ AG |
| Gipsstraße 10 | |
| 10119 Berlin | |
| Germany | |
| Phone: | +49 (0)30 346 461 597 |
| Fax: | +49 (0)30 346 461 580 |
| E-mail: | ir@sleepz.com |
| Internet: | www.sleepz.com |
| ISIN: | DE000A2E3772, DE000A2E4L59 (Aktie/share); DE000A2LQSV5 (Anleihe/bond)A2LQSV, |
| WKN: | A2E377, A2E4L5(Aktie/share); A2LQSV(Anleihe/bond) |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange; Warschau |
| EQS News ID: | 814019 |
| End of Announcement | DGAP News Service |
814019 21-May-2019 CET/CEST
