Mybet Holding SE: Strong negative impact on the already very strained liquidity situation due to court decision. Short-term payment obligation in the amount of around 295.000 Euro

mybet Holding SE: Strong negative impact on the already very strained liquidity situation due to court decision. Short-term payment obligation in the amount of around 295.000 Euro

Berlin, 13 November 2017. Today, the mybet Group was informed, that in Slovenia a legal proceeding that was ongoing since 2014 has been decided in the second instance. The court decision leads to an obligation for Personal Exchange International Ltd., a group company of mybet Group, to pay to a client of mybet poker winnings of around EUR 227,000 plus interest amounting to around EUR 64,000. The payment obligation is enforceable in the short term. In addition, mybet has to bear the court costs amounting to a low four-digit figure. The short-term enforceability of the claim leads to a strong negative impact on the already very strained liquidity situation of mybet Group in the current financial year 2017. A few days ago, the mybet Group had taken out a short-term bridge loan of EUR 500,000.

The Personal Exchange International Ltd. was the defendant. It is still the opinion of mybet Group, that this decision is not justified and reserves for itself the right to lodge an appeal. But such an appeal would not lead to a postponement for the payment obligation.

In its balance sheet, the mybet Group had created accruals, that approximately match the volume of the claim. Thus, the decision does only lead to an effect on the earnings before interest and taxes (EBIT) in the volume of the interest and court cost.

As already stated in the ad hoc announcement of 10 November 2017, the expected level of the group's liquidity by the end of the year depends directly on the implementation and the scope of additional financing measures being currently discussed. Thus, the Management Board will only be able to publish a new forecast for the group's liquidity by the end of the year when announcing the final decision on the financing measures.

Notifying company:
mybet Holding SE, ISIN DE000A0JRU67, Frankfurt Stock Exchange Prime Standard

Notifying person:
Markus Peuler, CEO of mybet Holding SE