SLEEPZAG (SLZ): Sam Stil-Art-Möbel GmbH files an application for the opening of insolvency proceedings - raport 15

Raport bieżący nr 15/2019

Podstawa Prawna:
Art. 17 ust. 1 MAR - informacje poufne.

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

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.

Disclosing person:

Alexander von Tschirnhaus, Member of the Management Board, Phone: +49-30-346461597, avt@sleepz.com