IM Internationalmedia AG
IM Internationalmedia AG filed for insolvency proceedings
IM Internationalmedia AG / Insolvency/Insolvency Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Munich, August 19, 2008 – IM Internationalmedia AG filed for insolvency proceedings at the Local Court in Munich today due to pending illiquidity. The Management Board has decided on this step because pending illiquidity puts continued business operations at risk. The reason for the illiquidity is that the Eluvium GmbH did not pay for exercised options. IM Internationalmedia AG already got into a financial disorder in the second half of 2007 after the abrupt cancellation of the film project STOPPING POWER. Since then no further project had been realized and the capital measures at the end of 2007 and the cooperation with a strategic investor did as well not bring the hoped for turnaround about. The Management Board now aims at continuing business of IM Internationalmedia AG with the support of the insolvency administrator. IM Internationalmedia AG Investor Relations Fon: +49 (89) 98 107 100 Fax: +49 (89) 98 107 199 E-Mail: info@internationalmedia.de 19.08.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: IM Internationalmedia AG Kaulbachstrasse 1 80539 München Deutschland Phone: +49 (0)89 98107-100 Fax: +49 (0)89 98107-199 E-mail: info@internationalmedia.de Internet: www.internationalmedia.de ISIN: DE000A0STYJ1, DE000A0STT18 WKN: A0STYJ, A0STT1 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Hamburg, Düsseldorf, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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