MOLOGEN AG: Update on short-term financing of the Company

MOLOGEN AG / Key word(s): Financing
MOLOGEN AG: Update on short-term financing of the Company

02-Dec-2019 / 14:00 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.

Ad-hoc release
 

Publication of inside information pursuant to Article 17 of Regulation (EU) No 596/2014

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY JURISDICTION IN WHICH SUCH DISTRIBUTION OR DISTRIBUTION IS UNLAWFUL.
 

MOLOGEN AG: Update on short-term financing of the Company
 

Berlin, December 2, 2019 - In order to facilitate short-term financing of MOLOGEN AG (ISIN DE000A2LQ900, WKN A2L Q90) (the Company), the Management Board is currently in discussions with two potential investor groups. The aim of these discussions is to place the convertible bond with a total nominal value of EUR 2,000,000 as announced in the Company's ad hoc announcement of 22 November 2019 and thereby secure the Company's existence.
 

In the course of these discussions, a group of investors in support of Prof. Dr. Burghardt Wittig propose (i) the immediate appointment of Prof. Wittig as a member of the Company's Management Board and (ii) the short-term appointment by court order of Gerhard Greif and Kai Drabe as members of the Company's Supervisory Board, with Mr. Greif to be elected as Chairman and Mr. Drabe as Deputy Chairman of the Supervisory Board following their respective appointments, as a prerequisite for a commitment to subscribe the entire convertible bond. The current members of the Supervisory Board, Dr. Friederike Zahm and Dr. Michael Schultz, are to resign from the Supervisory Board according to the proposal of the investor group. Oliver Krautscheid is to remain on the Supervisory Board according to the proposal of this investor group.
 

All members of the Management and the Supervisory Boards have today declared that they will continue to pursue the discussions with investors constructively in the interest of the Company. Therefore, in a joint meeting all members of the Management Board and the Supervisory Board of the Company today have declared their willingness in principle and within the limits of what is legally permissible to make their offices available at short notice under certain conditions as soon as a legally binding financing commitment in the form of subscription certificates for the convertible bond signed by this group of investors are available, in order to accommodate the demands of the group of investors and enable the Company to secure its continued existence.
 

If, on the other hand, the convertible bond cannot be placed or can only be placed in an insufficient amount, and if the other corporate financing efforts currently undertaken by the Company cannot be successfully concluded, the existence of the Company would be acutely threatened in the short term.

Important note:

This announcement constitutes neither an offer nor a solicitation to purchase or subscribe for securities in the United States of America, Australia, Canada, Japan or other jurisdictions in which an offer is unlawful. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act. There will be no public offering of the securities referred to in this announcement in the United States of America. Subject to certain exceptions under the Securities Act, the securities referred to in this announcement may not be offered or sold in Australia, Canada or Japan or to or for the account or benefit of persons resident in Australia, Canada or Japan.

Kontakt
Mologen AG
Tel: +49 - 30 - 84 17 88 - 0
Fax: +49 - 30 - 84 17 88 - 50
investor@mologen.com

Risk note on the forward-looking statements

Certain statements in this release contain forward-looking terminology or the corresponding negative terminology, or versions or similar terminology that differ therefrom. These are referred to as forward-looking statements. In addition, all information given here relating to planned or future results of business segments, key financial figures, developments in the financial situation or other financial figures or statistical data contains such forward-looking statements. The Company advises forward-looking investors not to place undue reliance on these forward-looking statements as a guide to future events. The Company does not undertake, and shall not be liable in any manner whatsoever, to update any forward-looking statements, which speak only as of the date of their publication.

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