MANIA Technologie AG / Insolvency 28.04.2008 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Weilrod, 28 April 2008 The management board of the Company will file today for insolvency proceedings with the competent local court of Bad Homburg v.d.H. due to over-indebtedness. After intensive internal as well as expert examination the management board of the Company assumes that the Company is over-indebted in the meaning of Insolvency Law. The insolvency filing of the Company has no direct or indirect impact on the German and foreign operating subsidiaries of the Company. At present, the Company is preparing an insolvency plan together with all participants which aims for the restructuring of the whole Mania group. Due to the filing for insolvency the calling of the extraordinary shareholders meeting regarding the loss of half of the registered share capital as mentioned in the ad-hoc-announcement as of 18 April 2008 is not required any more and therefore the management board will not make that calling. End of ad hoc announcement --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: Expanation Since the beginning of the year 2007 the considerable price pressure resulting from the weak demand and the continuing decline of the US dollar have had a negative impact on the operating activities of the Mania Group and the holding company, Mania Technologie AG. The measures immediately initiated by the Management to reduce product costs, in particular by reworking the product design and the transfer of assembly and procurement to China, bore first fruits. However these not yet completed measures were not able to compensate the loss in turnover and margin from the price decline and the constant devaluation of the US dollar quickly enough. On the other hand, the Business Division Outsourcing was able to assert itself in a market which has been weak recently and continues to provide clearly positive results. As a result of the latest developments of the operative business activities in the Business Division Production Systems and the bad profit situation arising therefrom, the Management Board of Mania Technologie AG has established that although the Company is currently financially solvent it is over-indebted in the sense of insolvency law. The Management Board will today therefore file for insolvency. The Management Board prepares with all participants a corresponding insolvency plan, in order to enable the further restructuring of Mania Technologie AG under the protection of insolvency law. The world-wide operating subsidiaries are not affected by Mania Technologie AGs file for insolvency. The operating companies will consequently not file for insolvency and at the present time there is no apparent reason for them to do so in the future. The individual subsidiaries will continue to operate in full. The planning process regarding the assets of Mania Technologie AG has no influence on these business activities. For further information please contact Wassula Zapris Investor Relations Tel.: +49 (0)6083-280 178 Fax: +49 (0)6083-280 505 Email: Investorrelations@maniagroup.com www.maniagroup.com Mania Technologie Aktiengesellschaft Technologiepark D-61276 Weilrod-Riedelbach ISIN: DE0006620701 WKN: 662070 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Hamburg, Düsseldorf DGAP 28.04.2008 --------------------------------------------------------------------------- Language: English Issuer: MANIA Technologie AG Technologiepark 61276 Weilrod Deutschland Phone: +49 (0)6083 280 178 Fax: +49 (0)6083 280 505 E-mail: investorrelations@maniagroup.com Internet: www.maniagroup.com ISIN: DE0006620701 WKN: 662070 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: Mania Technologie AG ('Company'): The Company files for insolvency
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