Ad hoc

EQS-Adhoc: Marinomed Biotech AG announces unanimous approval of the restructuring plan by creditors

EQS-Ad-hoc: Marinomed Biotech AG / Key word(s): Insolvency
Marinomed Biotech AG announces unanimous approval of the restructuring plan by creditors

14-Nov-2024 / 14:34 CET/CEST
Disclosure of an inside information acc.

to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Korneuburg, Austria, November 14, 2024 – Marinomed Biotech AG (VSE:MARI) announces that the creditors‘ assembly unanimously approved the restructuring plan presented at the final court hearing at the Korneuburg Regional Court on November 14, 2024. The established quota is 30%, payable in several tranches within two years. 5% is to be deposited as a cash quota. The liquidity required for the repayment of the quotas is to be partially funded through the sale of the Carragelose business unit of Marinomed Biotech AG. A super quota of up to a further 7% will be distributed if milestone payments from the sale of the Carragelose business within two years exceed the planned amount. Confirmation of the restructuring plan and termination of the proceedings are subject, among other things, to the payment of the 5% cash deposit and a standstill declaration from the European Investment Bank (EIB). The Company will provide information on further developments.

+++ End of ad-hoc announcement +++ 

End of Inside Information

14-Nov-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com

Language: EnglishCompany: Marinomed Biotech AG Hovengasse 25 2100 Korneuburg AustriaPhone: +43 2262 90300E-mail: office@marinomed.comInternet: www.marinomed.comISIN: ATMARINOMED6WKN: A2N9MMListed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Official Market)EQS News ID: 2030405
 End of Announcement EQS News Service

2030405  14-Nov-2024 CET/CEST

EQS-Ad-hoc: Marinomed Biotech AG / Key word(s): Insolvency
Marinomed Biotech AG announces unanimous approval of the restructuring plan by creditors

14-Nov-2024 / 14:34 CET/CEST
Disclosure of an inside information acc.

to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Korneuburg, Austria, November 14, 2024 – Marinomed Biotech AG (VSE:MARI) announces that the creditors‘ assembly unanimously approved the restructuring plan presented at the final court hearing at the Korneuburg Regional Court on November 14, 2024. The established quota is 30%, payable in several tranches within two years. 5% is to be deposited as a cash quota. The liquidity required for the repayment of the quotas is to be partially funded through the sale of the Carragelose business unit of Marinomed Biotech AG. A super quota of up to a further 7% will be distributed if milestone payments from the sale of the Carragelose business within two years exceed the planned amount. Confirmation of the restructuring plan and termination of the proceedings are subject, among other things, to the payment of the 5% cash deposit and a standstill declaration from the European Investment Bank (EIB). The Company will provide information on further developments.

+++ End of ad-hoc announcement +++ 

14-Nov-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com

2030405  14-Nov-2024 CET/CEST

2030405  14-Nov-2024 CET/CEST