PEARL GOLD AG: Court in Frankfurt decides upon actions with respect to resolutions of GM on June 12, 2015.

Frankfurt (pta007/11.04.2016/09:15 UTC+2) April 11, 2016. The District Court Frankfurt/Main has decided on the contestation actions filed by Martagon Investments Ltd. ("Martagon"), Nemo Asset Management Ltd. ("Nemo") and Sequoia Diversified Growth Fund Ltd. ("Sequoia") against the resolutions passed in the general meeting of the company on June 12, 2015. The judgment was delivered to the company today.

The actions of Martagon and Sequoia have been dismissed as inadmissible. Based on the action of Nemo, the District Court has declared the resolutions under agenda items 2a to 2c (election of Messrs. Roy Darius Maybus, Chris Simon Answorth und 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 und Pierre Roux as members of the supervisory board) and agenda item 5 (vote of no confidence regarding the member of the management board Mr. Michael Reza Pacha) null and void.
The District Court further declared that,

- Messrs. Robert Francis Goninon, Konstantin von Klitzing und Pierre Roux have been dismissed as members of the supervisory board of the company; and
- the vote of no confidence regarding the member of the management board Mr. Michael Reza Pacha was successful.

The court justified its decision essentially by arguing that the voting rights of the shareholder Horizon Resources GmbH amounting to 22.4% were not to be counted in the determination of the resolutions.
The company considers the judgment to be wrong as a whole and intents to file an appeal. The supervisory board members will continue to hold office (for the time being) until the judgment becomes legally final and binding.

(end)

Emitter:	PEARL GOLD AG Neue Mainzer Straße 28 60311 Frankfurt Germany
Contact Person:	Reza Pacha
Phone:	+49 69 971097-555
E-Mail:	info@pearlgoldag.com
Website:	www.pearlgoldag.com
ISIN(s):	DE000A0AFGF3 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt