On November 7, 2017, the court of Frankfurt am Main (Amtsgericht Frankfurt am Main – Registergericht) has, in the case of Martagon Investments Ltd., Nemo Asset Management Ltd. and Sequoia Diversified Growth Fund Ltd. against Pearl Gold AG (file HRB 84285 Fall 32) ordered that the General Assembly scheduled by the board of Pearl Gold AG for November 17, 2017, will be chaired by attorney-at-law Dr Robert Weber. Dr Weber is a partner of the law firm White & Case in Frankfurt and a proven expert in general assemblies of German stock companies.
This order had been applied for by Martagon Investments Ltd. and others in order to avoid that the chair of the general assembly manipulates voting rights and resolutions of Pearl Gold AG as it happened during the general assembly in 2015. As you remember, due to the unlawful exclusion of voting rights, the court of Frankfurt am Main has judged by sentence of February 16, 2016, that most resolutions of the general assembly of 2015 are null and void, that the majority of the shareholders have withdrawn their trust to Mr. Michael R. Pacha and that the members of the supervisory board are recalled.
The general assembly of Pearl Gold AG will therefore take place on November 17, 2017, as scheduled, and will be chaired by attorney-at-law Dr Robert Weber as a neutral and independent chairman. Mr. Michael R. Pacha and/or members of the supervisory board of Pearl Gold AG will not be allowed to chair this general assembly.