DGAP-Adhoc: mybet Holding SE: Strong negative impact on the already very strained liquidity situation due to court decision. Short-term payment obligation in the amount of around 295.000 Euro

2017. november 13., hétfő, 22:09





DGAP-Ad-hoc: mybet Holding SE / Key word(s): Legal Matter/Financing


mybet Holding SE: Strong negative impact on the already very strained liquidity situation due to court decision. Short-term payment obligation in the amount of around 295.000 Euro


13-Nov-2017 / 22:09 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




mybet Holding SE: Strong negative impact on the already very strained liquidity situation due to court decision. Short-term payment obligation in the amount of around 295.000 Euro



Berlin, 13 November 2017. Today, the mybet Group was informed, that in Slovenia a legal proceeding that was ongoing since 2014 has been decided in the second instance. The court decision leads to an obligation for Personal Exchange International Ltd., a group company of mybet Group, to pay to a client of mybet poker winnings of around EUR 227,000 plus interest amounting to around EUR 64,000. The payment obligation is enforceable in the short term. In addition, mybet has to bear the court costs amounting to a low four-digit figure. The short-term enforceability of the claim leads to a strong negative impact on the already very strained liquidity situation of mybet Group in the current financial year 2017. A few days ago, the mybet Group had taken out a short-term bridge loan of EUR 500,000.



The Personal Exchange International Ltd. was the defendant. It is still the opinion of mybet Group, that this decision is not justified and reserves for itself the right to lodge an appeal. But such an appeal would not lead to a postponement for the payment obligation.



In its balance sheet, the mybet Group had created accruals, that approximately match the volume of the claim. Thus, the decision does only lead to an effect on the earnings before interest and taxes (EBIT) in the volume of the interest and court cost.



As already stated in the ad hoc announcement of 10 November 2017, the expected level of the group"s liquidity by the end of the year depends directly on the implementation and the scope of additional financing measures being currently discussed. Thus, the Management Board will only be able to publish a new forecast for the group"s liquidity by the end of the year when announcing the final decision on the financing measures.



Notifying company:

mybet Holding SE, ISIN DE000A0JRU67, Frankfurt Stock Exchange Prime Standard



Notifying person:

Markus Peuler, CEO of mybet Holding SE






Information and Explanation of the Issuer to this News:

mybet Holding SE

The mybet Group, licensed in several European countries to offer sports betting and online casino games, has its registered office in Berlin and locations in Cologne and Malta. mybet offers its betting and gaming products over the internet platform mybet.com as well as at land-based betting shops operating under a franchise system. In addition, the group supplies regional betting providers in Europe and Africa as a B2B service provider.

mybet Holding SE is the parent company of the mybet Group. The shares of mybet Holding SE (ISIN DE000A0JRU67) are listed on the Frankfurt Stock Exchange in the Prime Standard.

For further information, visit www.mybet-se.com | www.mybet.com | www.mybet-shop.com



Contact

mybet Holding SE

Sebastian Bucher

Investor & Public Relations



tel +49 30 22 90 83 161

fax +49 30 22 90 83 150

e-mail sebastian.bucher@mybet.com








13-Nov-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: mybet Holding SE

Karl-Liebknecht-Straße 32

10178 Berlin

Germany
Phone: +49 30 22 90 83 0
Fax: +49 30 22 90 83 150
E-mail: ir@mybet.com
Internet: www.mybet-se.com
ISIN: DE000A0JRU67
WKN: A0JRU6
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange





 
End of Announcement DGAP News Service




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