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mybet Holding SE: Management Board preparing an application to open insolvency proceedings after talks with strategic investor fail

mybet Holding SE / Key word(s): Insolvency/Miscellaneous
mybet Holding SE: Management Board preparing an application to open insolvency proceedings after talks with strategic investor fail

14-Aug-2018 / 17:02 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


mybet Holding SE: Management Board preparing an application to open insolvency proceedings after talks with strategic investor fail

The Management Board of mybet Holding SE ("Company") (ISIN DE000A2LQ009 new shares: ISIN DE000A2LQ7F4, convertible bond 2015/2020: DE000A1X3GJ8 and 2017/2020: DE000A2G8472) are preparing an application to open insolvency proceedings due to imminent illiquidity. The company aim to file the application for all three German group companies including the Company itself to the responsible local court this Friday.

The background for the application for the opening of insolvency proceedings is the failure of discussions with potential investors. Today, the discussions with a strategic investor reported by ad-hoc on the 13th July regarding the possible sale of the online business of mybet Holding SE under the domain www.mybet.com were closed. These talks failed due to conditions set by the investors which could not be fulfilled.

The board's decision to file for insolvency after the failure of these talks was also influenced by the decision of the Frankfurt am Main II Tax Office ("Tax Office") to reject an application for the provisional suspension or stay of enforcement regarding outstanding sports betting taxes which the group company Personal Exchange International ("PEI"), based in Malta, had filed. Following the decision of the Tax Office, a total of ca. EUR 4 million of sports betting taxes are in arrears.


Information and Explanation of the Issuer to this News:

Reporting company:
mybet Holding SE, ISIN DE000A2LQ009, new shares: ISIN DE000A2LQ7F4in the Prime Standard segment of the Frankfurt Securities Exchange

Reporting person:
Markus Peuler, member of the Management Board

Contact
mybet Holding SE
Karl-Liebknecht-Strasse 32
D-10178 Berlin
Investor & Public Relations
tel +49 30 22 90 83-161
fax +49 30 22 90 83-150
Email: ir@mybet.com


14-Aug-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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