On August 22, 2017, Martagon Investments Ltd., along with Nemo Asset Management Ltd. and Sequoia Diversified Growth Fund Ltd., were empowered by the court of Frankfurt am Main to call for a general assembly of Pearl Gold AG, of which they hold substantial shares.
The court of Frankfurt am Main also fixed the following agenda for the general assembly and appointed attorney-at-law Dr. Robert Weber from White & Case LLP as chair of the general assembly:
1. Presentation of the financial statements for 20132. Resolution on the discharge of the management board for 20133. Resolution on the discharge of the supervisory board for 20134. Recall of supervisory board members5. Vote of new supervisory board members6. Withdrawal of trust regarding the CEO7. Appointment of a special auditor
So far, this court sentence could not be served to the registered address of Pearl Gold AG because at the given address – which Mr. Pacha still uses today in official notices of the company – it is said that Pearl Gold AG is not longer there, without giving a new address.
These three shareholders were eager to hold the general assembly at the earliest opportunity, thus published the invitation on August 25, 2017, for October 2. Unfortunately, as mentioned, some court procedures for the proper implementation of the court order are taking longer than anticipated. Therefore, the general assembly will have to be called for a slightly later date.
In the meantime, Mr. Pacha has called for a general assembly to be held on November 17, 2017, in Frankfurt. However, this invitation does not reflect the requests of Martagon Investments Ltd., Nemo Asset Management Ltd. and Sequoia Diversified Growth Fund Ltd. and will therefore be challenged.
None of the three persons named to be elected at the Supervisory Board, Julia Gruaz, Louis Couriol or Abdul Jabbar Al Sayegh are even aware of this agenda.
The order of the court of Frankfurt am Main of August 22, 2017, however, is still fully binding for the board of Pearl Gold AG. It has not and cannot been challenged by either the management of Pearl Gold AG, nor by anyone else.
Martagon Investments Ltd, September 28th, 2017