Sunburst Merchandising AG i.L.
Sunburst Merchandising english
Ad hoc announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Sunburst Merchandising AG
Decision on insolvency proceedings to be made on July 1st, 2001
Application for transfer to the “Geregelter Markt”
Legal action to be taken against former management board members
Osnabrück, June 28, 2001. The Osnabrück local court will announce its decision
on Sunburst Merchandising AG’s application for the initiation of insolvency
proceedings on July 01, 2001. In his expert appraisal, the preliminary
insolvency administrator comes to the conclusion that the prerequisites for
initiating insolvency proceedings are fulfilled. This means that the efforts of
the management board and the preliminary insolvency administrator to find new
investors to return the company to a position in which it is able to pay its
debts have failed.
Against the background of the initiation of insolvency proceedings, Sunburst AG
has applied to Deutsche Börse to have its listing in the Neuer Markt withdrawn
at the close of trading on Friday, July 6 , 2001. The obligations resulting
from the corresponding regulations could lead to considerable extraordinary
burdens considering the commercial and financial situation the company is in;
therefore, it cannot be guaranteed that the issuer will be able to uphold its
listing obligations. At the same time, an application has been made to list the
price of the share on the organized market starting from Monday, July 9, 2001.
In view of information established during the auditing work for the 2000 annual
report, Sunburst’s supervisory board has reported the former CEO Mr. Hero
Alting and the former CFO Mr. Oliver Butke to the public prosecutor’s office in
Osnabrück on counts of suspicion of breach of public trust and falsification of
balance sheets.
Contact:
Sunburst Merchandising AG
T +49 -89 – 516 179 -0
F +49 -89 – 516 179 -40
E info@sunburst.de
end of ad hoc announcement (c) DGAP 28.06.2001
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WKN: 720150; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
282020 Jun 01
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