JoWood Insolvency Update

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Written by Brother None on April 21st, 2011

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Several sources report that JoWooD's insolvency process is moving forward, unfortunately not in the desired direction.

• Negotiations with possible investors, and with them the intended restructuring plan, have failed.
• JoWooD pulls back the application to pursue a restructuring plan.
• Thereby the insolvency with a planned restructuring becomes an insolvency without a positive continuation prognosis.
• This means the liquidation proceedings will start shortly.
• The daughter company JoWooD Distribution Services GmbH files for insolvency on April 21st 2011.
• Trading of the JoWooD shares at the Vienna Stock Exchange has been suspended.

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