EQS-Adhoc

The Social Chain AG: Creditors' meeting today approves the intended sale of the DS Group, which is to be notarised shortly - probably also today

EQS-Ad-hoc: The Social Chain AG / Key word(s): Disposal The Social Chain AG: Creditors' meeting today approves the intended sale of the DS Group, which is to be notarised shortly - probably also today 08-Nov-2023 / 15:42 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Publication of insider information pursuant to Article 17 of Regulation (EU) No. 596/2014

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The Social Chain AG: Creditors' meeting today approves the intended sale of the DS Group, which is to be notarised shortly - probably also today

Berlin, 8 November 2023 - The creditors' meeting of The Social Chain AG ("Company") (ISIN DE000A1YC996 / WKN A1YC99; ISIN DE000A3E5FE7 / WKN A3E5FE) convened by the insolvency court today granted its consent to the intended sale of the DS Group based in Stapelfeld pursuant to section 162 of the German Insolvency Code (sale of business to particularly interested parties).

The company and an acquiring company of Ralf Dümmel and other former shareholders ("Acquiring Company") have reached a final agreement as part of the already communicated process for the sale of the DS Group immediately before the start of the creditors' meeting, which was the subject of today's resolution by the creditors' meeting.

Following the approval that has now been granted, it is intended to sell and assign all shares in TSCDS Holding GmbH (HRB 232978 B, Charlottenburg Local Court) ("Target Company"), including the subsidiaries held directly and indirectly by it, to the Acquiring Company. The completion of the purchase agreement will depend on the fulfilment of standard market conditions.

Following the final agreement approved by the creditors' meeting, the Company will realise a purchase price (taking into account the financial liabilities of DS Group) of EUR 6.5 million as part of the sale of DS Group, of which EUR 3.5 million will go to the insolvency estate to satisfy creditors and EUR 3.0 million will be paid into the Target Company's capital reserves to repay bank liabilities.