DGAP-Ad hoc: Marenave Schiffahrts AG

The annual general meeting of Marenave Schiffahrts AG (Marenave or Company) has resolved to postpone the capital reduction which was proposed by the Management Board and the Supervisory Board of the Company.

Therefore, the Investment Agreement between the Company and CPO Investments GmbH & Co. KG (Offen Group) and DEVK Allgemeine Versicherungs-Aktiengesellschaft (DEVK; together with Offen Group the Investors) fails from the Investor's perspective and will no longer be pursued by them, as already announced by the Investors before the annual general meeting (cf.  press release of 8 September 2017).

Moreover, the annual general meeting resolved to remove Mr. Klaus Meyer with effect as of the termination of the annual general meeting and to enlarge the Company's Supervisory Board to four members. At the same time the annual general meeting, according the proposal of Ernst Russ AG, has elected Mr. Jens Mahnke (member and spokesman of the management board of Ernst Russ AG) and Dr. Michael Schmidt-Dencker as member of the Company's Supervisory Board.
 
Against this overall background, all Supervisory Board members acting so far, the chairman of the Supervisory Board Mr. Bernd Zens and Dr. Henning Winter, resigned from office with effect as stipulated in the articles of association. Thereupon, the Supervisory Board elected Dr. Schmidt-Dencker as new chairman of the Supervisory Board.

All voting results are published on the Company's website.
 
The Management Board