Regulated and Inside Information
ANNOUNCEMENT: Update on Dissolution Plan
To the shareholders:
London - 6 December 2018 at 19:00 hours
ANNOUNCEMENT: Update on Dissolution Plan
Pursuant to the dissolution plan, which was agreed upon unanimously by the shareholders in the annual general meeting of 18 January 2018, and pursuant to the announcement of the Company of 22 August 2018, all shares that the Company held in Your Drinks AG have in the last months been sold at the Berlin Stock Exchange. The sale of these shares has yielded the amount of € 26.288,-.
With that sale, all, in practice, saleable assets of OIM have been disposed of, except for the shares the Company holds in Algo Vision GmbH and Out of Africa (in liquidation) and a (very) limited amount of cash. Cessation of both companies pursuant do German law is expected within the next two months and with that, these specific assets of the Company will also cease to exist.
The Board is currently in the process of finalizing the last balance sheet of the company. The (proceeds of the) assets will be employed to settle any remaining debts of the Company. If any funds remain, these will be paid out to the shareholders.
All the above is necessary for the purpose of concluding the affairs of the Company. Therefore, the Board expects to make the application for dissolution within 3 months from publishing the last balance sheet and informing the shareholders of any final distribution.
Board of Directors
Mr. P. Zwart (CEO)
Mr. W. Bouma