Regulated and Inside Information
ANNOUNCEMENT: Dissolution of company
To the shareholders:
London - 8 April 2019 at 17:00 hours
ANNOUNCEMENT: Dissolution of company
On 6 December 2018, the Board announced that pursuant to the Dissolution Plan, which was agreed upon unanimously by the shareholders in the annual general meeting of 18 January 2018, all, in practice, saleable assets of OIM had been disposed of, except for the shares the Company holds in Algo Vision GmbH and Out of Africa (in liquidation) and a (very) limited amount of cash.
As announced on 7 February 2019, the voluntary strike-off that the Board would request under the Dissolution Plan would be replaced by the compulsory strike-off that was announced by the Registrar of Companies in the United Kingdom on 22 January 2019. This strike-off will take place on 9 April 2019.
To the extent practically and legally possible, all known contracts and other agreements have been assigned, novated or terminated. All the Company?s bank accounts have been closed or will be closed in the near future. Furthermore, the Board has taken all the steps that were necessary and practically possible to complete the liquidations of both Algo Vision GmbH and Out of Africa, subsidiaries of the Company. These companies have now ceased to exist or will cease to exist in the near future, both pursuant to German law.
The (proceeds of the) assets and most remaining cash in the Company were employed to settle remaining debts of the Company. Given that the advisor fees were higher than the available cash, final settlements were reached with the advisors, resulting in no remaining debts. The Board confirms that all known creditors of the Company have now been either paid or settled. There are no remaining known debts in the Company, and there is no remaining cash for distribution. As announced on 26 March 2019. There will be no further distributions to the shareholders. Then (unaudited) Annual Accounts for 2017 and 2018 can be found here.
All trade in the shares of the Company has been suspended and the Board has requested delisting from Euronext Brussels.
Any remaining legal relationships with Your Drinks AG will automatically transfer to the Crown (the Treasurer) bona vacantia as part of the dissolution and subsequent strike-off. The Board refers to the dissolution plan in this respect and to its announcements dated 18 January 2018 and 22 August 2018.
The Company has thereby concluded the affairs of the Company.
Board of Directors
Mr. P. Zwart (CEO)
Mr. W. Bouma