Curasan AG: Convening of a General Meeting to report a loss amounting to half of the share capital pursuant to Section 92 (1) of the German Stock Corporation Act (AktG) and other measures

Translation of an ad hoc release published in German pursuant to Article 17 of Regulation (EU) No 596/2014

Kleinostheim, 29. November 2018 - The Management Board has today determined that, at its dutiful discretion, a loss of more than half of the share capital has occurred. This is due to the scheduled operating losses already announced by the Company in earlier announcements. Based on the current course of business, the currently available cash and cash equivalents will therefore probably continue to be sufficient to finance business operations until the end of the first half of 2019.

According to Section 92 (1) AktG, a loss of half of the share capital triggers a statutory obligation to immediately invite shareholders to a General Meeting. At this meeting, the Management Board will report the loss amounting to half of the share capital and discuss the situation of the company. An invitation including the agenda will be published in due time and form. The Company assumes that the General Meeting will probably take place in February 2019 at the latest. From today's perspective, this meeting will also resolve on an authorization to issue convertible bonds and a new election to the Supervisory Board.

The background for the planned resolution proposals to the General Meeting is, on the one hand, the Company's intention to offer the shareholders convertible bonds with a volume of up to 5 million euros for subscription instead of new shares within the framework of the previously planned capital increase with subscription rights. Based on discussions with potential investors, the Company is confident that it will be able to place at least almost all of the convertible bonds offered and thus substantially strengthen the Company's liquidity. On the other hand, the shareholder structure changed in the course of 2018 will also be taken into account in the composition of the Supervisory Board in the future. For this purpose, Prof. Dr. Honold has declared his willingness to resign from the Supervisory Board with effect from the end of 2018 in order to enable Isabella de Krassny to be appointed as a member of the Supervisory Board.

In order to achieve economies of scale and the resulting positive effects on sales and earnings, the Company is also currently evaluating the possibility of acquisitions or business combinations. If the Company's liquid funds are not sufficient to finance these measures even after the intended issue of convertible bonds, these could also be financed by issuing new shares against contributions in kind. If the still existing Authorized Capital 2018 should not be sufficient for this purpose, a decision on this would be submitted to a further General Meeting of the Company for resolution, but probably to the Annual General Meeting planned for June 2019 at the earliest.

Contact at curasan AG:

Andrea Weidner
Head of Investor Relations & Corporate Communications
[phone] - 51
[e-mail]