PEARL GOLD AG: Frankfurt Court Rules on Action against Resolutions of General Meeting of June 12, 2015

Berlin (pta016/22.02.2018/11:55 UTC+1) Martagon Investments Ltd. and Sequoia Diversified Growth Fund Ltd. have withdrawn their appeals against the judgment of the Regional Court Frankfurt on the Main of April 5, 2016. Hence, the dismissal of their claims has now become final and unappealable. Further, Nemo Asset Management Ltd. ("Nemo") withdrew its appeal concerning the election of the candidates proposed by Nemo as members of the supervisory board. Thus, the dismissal of this claim has also become final and unappealable.

The company has withdrawn its appeal against the same judgment. The withdrawal was informed by the legal reasoning expressed by the presiding judge during the hearing. Therefore, the judgment of the regional court is now final and unappealable insofar as it was in favor of Nemo. Upon the action of Nemo, the regional court had declared the positive resolutions under agenda items 2a to 2c (election of Messrs. Roy Darius Maybud, Chris Simon Ainsworth, and Alireza Mahdavi as members of the supervisory board) as well as the negative resolutions under agenda item 3 (removal of Messrs. Robert Francis Goninon, Konstantin von Klitzing, and Pierre Roux as members of the supervisory board) and agenda item 5 (vote of non-confidence regarding the member of the management board Mr. Michael Reza Pacha) null and void. The regional court had further declared that Messrs. Robert Francis Goninon, Konstantin von Klitzing, and Pierre Roux were dismissed as members of the supervisory board of the company and that the vote of non-confidence regarding the member of the management board Mr. Michael Reza Pacha was successful. Accordingly, all six individuals mentioned above ceased to be members of the supervisory board retroactively as per the end of the general meeting of June 12, 2015.

The Higher Regional Court Frankfurt on the Main dismissed the remaining appeal of Nemo, concerning participation and voting rights of two shareholders in the general meeting of June 12, 2015. The application was seen as inadmissible as there was a lack of legal interest to clarify the issue. No further appeal was allowed.

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Emitter:	PEARL GOLD AG c/o Malmendier Partners, Kurfürstendamm 213 10719 Berlin Germany
Contact Person:	Julia Boutonnet
Phone:	+49 30 59 00 30 40
E-Mail:	info@pearlgoldag.com
Website:	www.pearlgoldag.com
ISIN(s):	DE000A0AFGF3 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt