PEARL GOLD AG

Detailed information on Pearl Gold AG and Wassoul'Or following court decision in Mali - Seite 2

The press statement of the management of Wassoul'Or dated March 27th 2015 names operations called "convertible loans" and others of which we as shareholders and members of the Board - "Conseil d'Administration"- of Wassoul'Or have not been informed and that we strongly question and that we will oppose in order to defend our interests as shareholder and creditor.

It is exactly this total lack of transparency uncoordinated management, and the fact that decisions are taken unilaterally without any kind of consultation or cooperation with the board and the company organs by the President of Wassoul'Or that we do reject and denunciate.

It is simply against the laws applicable in Mali that a director of a company decides alone on loans or other agreements with related parties, entirely controlled by himself, in the amount of more than 12 billion FCA (more than 5 times the capital of the company) without any information or vote of the "Conseil d'Administration". This is even more sensitive and shocking for a company which is subject to a protection procedure (comparable to the Chapter 11 in the US).

The same is applicable to the unjustified and harmful decision to lay off 310 employees when operations are supposedly announced by the President to restart, and that are thus just motivated by the protest of a group of employees in front of his luxury private estate after 8 months of unpaid salary.

But this is not the time for more public discussions and arguments as all the assets of Wassoul'Or SA are at risk due to the before mentioned lack of capabilities of its management.

We would like to invite all stakeholders to find and discuss with us suitable solutions for our investment and to save Wassoul'Or SA from bankruptcy.

In order to organize telephone calls for our investors, we invite you to send us your contact details (at least your name, number of shares, phone number and e-mail) to our central mail: [e-mail]. We will shortly invite you to information calls to update you on the situation at Wassoul'Or SA.

Our representatives in Mali will be in contact with the Judiciary Administrator and the Mining Minister in order to defend the interests of Pearl Gold and its shareholders.

The Management of Pearl Gold AG



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emitter: PEARL GOLD AG address: Neue Mainzer Straße 28, 60311 Frankfurt country: Germany contact person: Reza Pacha phone: [phone] e-mail: [e-mail] website: www.pearlgoldag.com

ISIN(s): DE000A0AFGF3 (share) stock exchanges: regulated market in Frankfurt

[ source: http://www.pressetext.com/news/20150331030 ]