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    DGAP-Adhoc  964  0 Kommentare METRIC mobility solutions AG: Application for the initiation of insolvency proceedings under own administration in accordance with Section 270a of the German Insolvency Ordinance (InsO)


    METRIC mobility solutions AG / Key word(s): Insolvency

    28.06.2016 20:55

    Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
    by DGAP - a service of EQS Group AG.
    The issuer is solely responsible for the content of this announcement.

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    Hanover, 28.06.2016. Following an in-depth and careful inspection, the
    Board of Management of METRIC mobility solutions AG (Frankfurt Securities
    Exchange, Prime Standard; ISIN DE000A1X3X66) today adopted a resolution to
    file an application for the initiation of insolvency proceedings with the
    competent Local Court of Hanover under the Company's own administration
    pursuant to Section 270a of the German Insolvency Ordinance (InsO) due to
    insolvency in order to restructure the Company under its own management and
    control. The objective is for entrepreneurial responsibility to remain in
    the hands of the Board of Management in office to date and for business
    operations to continue.
    Unexpected budget deviations in terms of turnover, occurring in tandem with
    delays in the completion of large-scale projects and the acquisition of a
    large-scale contract award, have led to a liquidity bottleneck. It was not
    possible for this liquidity bottleneck to be eliminated either by the
    receipt of an advance payment in settlement of substantial services
    performed upfront within the scope of an ongoing large-scale project or by
    tapping into additional sources of funding. Negotiations on a bridge
    financing arrangement conducted in the meantime, which have been promising
    to this day, have not achieved the desired objective.
    The foreign subsidiaries will not be directly affected by the application
    for the initiation of insolvency proceedings under own administration.
    METRIC mobility solutions AG
    Rotenburger Str. 20
    30659 Hanover

    The Board of Management

    Contact:
    METRIC mobility solutions AG
    Sybille Gäbisch
    +49 511 6102-300
    IR@metric-group.com


    28.06.2016 The DGAP Distribution Services include Regulatory Announcements,
    Financial/Corporate News and Press Releases.
    Media archive at www.dgap.de

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    Language: English
    Company: METRIC mobility solutions AG
    Rotenburger Str. 20
    30659 Hannover
    Germany
    Phone: +49 (0)511-6102-0
    Fax: +49 (0)511-6102-411
    E-mail: info@metric-group.com
    Internet: http://www.metric-group.com
    ISIN: DE000A1X3X66
    WKN: A1X3X6
    Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
    Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
    Munich, Stuttgart

    End of Announcement DGAP News-Service

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    DGAP-Adhoc METRIC mobility solutions AG: Application for the initiation of insolvency proceedings under own administration in accordance with Section 270a of the German Insolvency Ordinance (InsO) METRIC mobility solutions AG / Key word(s): Insolvency 28.06.2016 20:55 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this …