IM Internationalmedia AG / Insolvency/Insolvency
19.08.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Munich, August 19, 2008 IM Internationalmedia AG filed for insolvency
proceedings at the Local Court in Munich today due to pending illiquidity.
The Management Board has decided on this step because pending illiquidity
puts continued business operations at risk. The reason for the illiquidity
is that the Eluvium GmbH did not pay for exercised options.
IM Internationalmedia AG already got into a financial disorder in the
second half of 2007 after the abrupt cancellation of the film project
STOPPING POWER. Since then no further project had been realized and the
capital measures at the end of 2007 and the cooperation with a strategic
investor did as well not bring the hoped for turnaround about.
The Management Board now aims at continuing business of IM
Internationalmedia AG with the support of the insolvency administrator.
IM Internationalmedia AG
Investor Relations
Fon: +49 (89) 98 107 100
Fax: +49 (89) 98 107 199
E-Mail: info@internationalmedia.de
DGAP 19.08.2008
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Language: English
Issuer: IM Internationalmedia AG
Kaulbachstrasse 1
80539 München
Deutschland
Phone: +49 (0)89 98107-100
Fax: +49 (0)89 98107-199
E-mail: info@internationalmedia.de
Internet: www.internationalmedia.de
ISIN: DE000A0STYJ1, DE000A0STT18
WKN: A0STYJ, A0STT1
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: IM Internationalmedia AG filed for insolvency proceedings
| Source: EQS Group AG