DGAP-Adhoc: DEAG Deutsche Entertainment Aktiengesellschaft: 7-year proceedings can be closed

DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Legal
Matter/Miscellaneous

24.05.2013 14:41

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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7-year proceedings can be closed

- 7-year proceedings can be closed

- The Executive Board and the Supervisory Board welcome legal certainty
after judgment

- Full claims will be asserted against the insurance of the auditor

Berlin, May 24, 2013 - The Berlin court of appeal (Kammergericht) has set
aside today the appeal of DEAG Deutsche Entertainment AG (ISIN
DE000A0Z23G6) against the first-instance judgment of the Berlin regional
court (Landgericht) in legal proceedings which have been pending since
2006. According to the judgment, DEAG would have to release the amount of
EUR 2.7 million deposited as security since 2011 and pay interest to Qivive
GmbH i.L. The administrator of Qivive GmbH i.L. had originally filed a suit
for an amount of EUR 4.4 million plus interest. Despite the capping of the
amount to EUR 2.7 million plus interest, which has now been reached, the
company would have the possibility to lodge an appeal but intends to
possibly secure this result by way of compromise.

Within the framework of a contribution in kind DEAG contributed in 2001 the
software Ticketplus with a value of EUR 5.0 million to the holding company
Qivive GmbH. The valuation of the software was based on an expert report
concerning the contribution in kind prepared by the firm of auditors
Deloitte & Touche in December 2000. The expert appointed by the Berlin
regional court determined in the course of the proceedings an amount of EUR
2.3 million as proper value of the software contributed at that time.
According to the judgment now pronounced, DEAG has to pay the difference of
EUR 2.7 million plus interest to the administrator of Qivive GmbH i.L.

Deloitte & Touche, which had audited the contribution in kind at that time,
was already served a third-party notice in 2006. DEAG can now assert its
recourse claim against Deloitte & Touche within the liability limit of EUR
4.0 million agreed in 2001.

The Executive Board expressly welcomes the intermediate stage reached after
seven years of legal proceedings in respect of a matter dating back more
than 12 years and is confident that the final settlement of these
proceedings will not have any influence on the planned EBIT of the company.

DEAG Deutsche Entertainment AG
The Executive Board

For further information please contact:
Axel Muehlhaus
edicto GmbH
Eschersheimer Landstr.42
60322 Frankfurt/M
Germany
Tel: +49-69-90 550 552
Fax: +49-69-90 550 577
Email: deag@edicto.de

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Language: English
Company: DEAG Deutsche Entertainment Aktiengesellschaft
Potsdamer Straße 58
10785 Berlin
Germany
Phone: +49-30-810 75-0
Fax: +49-30-810 75-519
E-mail: deag@edicto.de
Internet: www.deag.de
ISIN: DE000A0Z23G6
WKN: A0Z23G
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service

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