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Marenave Schiffahrts AG (M5SG.BE)

M5SG.BE on Berlin Stock Exchange

1.50EUR
28 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Marenave Schiffahrts: negotiations on agreements on restructuring continued
Wednesday, 1 Mar 2017 01:59am EST 

Marenave Schiffahrts AG : Said on Tuesday renewed extension of statements of financing banks not to seriously demand payment in light of pending restructuring negotiations .Negotiations on agreements on the restructuring and release of liability between the Company and financing banks are being continued.  Full Article

Marenave Schiffahrts: negotiations on agreements on restructuring continued
Tuesday, 28 Feb 2017 03:05pm EST 

Marenave Schiffahrts AG : Said on Tuesday renewed extension of statements of financing banks not to seriously demand payment in light of pending restructuring negotiations .Negotiations on agreements on the restructuring and release of liability between the Company and financing banks are being continued.  Full Article

Marenave Schiffahrts: investment agreement with Offen Group and DEVK
Tuesday, 21 Feb 2017 01:24am EST 

Marenave Schiffahrts AG : Said on Monday had concluded investment agreement with Offen Group and DEVK . Ongoing negotiations on agreement on restructuring and release of liability . Investment agreement provides for an obligation of the Investors to provide an initial financing for and to invest in the Company the minimum amount of in total 2 million euros ($2.12 million) to be effected by way of capital measures and to conduct negotiations about a further financing and investment - depending on the further course of the project - in the order of 14 million euros . This obligation is subject to conditions precedent, in particular that the banks financing the Marenave-fleet release the Company from its liabilities incurred for the benefit of the banks . In the course of the release from liabilities it is envisaged to sell off the Marenave-fleet .Negotiations with the financing banks on an agreement on the restructuring and release of liability are being continued.  Full Article

Marenave Schiffahrts: investment agreement with Offen Group and DEVK
Monday, 20 Feb 2017 02:28pm EST 

Marenave Schiffahrts AG : Said on Monday had concluded investment agreement with Offen Group and DEVK . Ongoing negotiations on agreement on restructuring and release of liability . Investment agreement provides for an obligation of the Investors to provide an initial financing for and to invest in the Company the minimum amount of in total 2 million euros ($2.12 million) to be effected by way of capital measures and to conduct negotiations about a further financing and investment - depending on the further course of the project - in the order of 14 million euros . This obligation is subject to conditions precedent, in particular that the banks financing the Marenave-fleet release the Company from its liabilities incurred for the benefit of the banks . In the course of the release from liabilities it is envisaged to sell off the Marenave-fleet .Negotiations with the financing banks on an agreement on the restructuring and release of liability are being continued.  Full Article

Marenave Schiffahrts: renewed extension of banks statements not to seriously demand payment in light of pending restructuring negotiations
Friday, 27 Jan 2017 01:17am EST 

Marenave Schiffahrts AG : Announced on Thursday that renewed extension of statements of financing banks not to seriously demand payment in light of pending restructuring negotiations .Said the negotiations on agreements on the restructuring and release of liability between the Company and the financing banks are being continued.  Full Article

Marenave Schiffahrts: renewed extension of banks statements not to seriously demand payment in light of pending restructuring negotiations
Thursday, 26 Jan 2017 03:57pm EST 

Marenave Schiffahrts AG : Announced on Thursday that renewed extension of statements of financing banks not to seriously demand payment in light of pending restructuring negotiations .Said the negotiations on agreements on the restructuring and release of liability between the Company and the financing banks are being continued.  Full Article

Marenave Schiffahrts: restoration of positive going concern forecast
Friday, 25 Nov 2016 02:13am EST 

Marenave Schiffahrts AG : Said on Thursday after careful examination the management board had concluded that the positive going concern forecast is restored for the company and that all single ship companies are solvent . Resumption of restructuring negotiations .Probably until Dec. 9 inter alia a paper with key issues for a restructuring agreement between the company and some of the financing banks shall be concluded.  Full Article

Marenave Schiffahrts: restoration of positive going concern forecast
Thursday, 24 Nov 2016 05:37pm EST 

Marenave Schiffahrts AG : Said on Thursday after careful examination the management board had concluded that the positive going concern forecast is restored for the company and that all single ship companies are solvent . Resumption of restructuring negotiations .Probably until Dec. 9 inter alia a paper with key issues for a restructuring agreement between the company and some of the financing banks shall be concluded.  Full Article

Marenave Schiffahrts: extension of the reduced repayment rates
Friday, 1 Jul 2016 07:10am EDT 

Marenave Schiffahrts AG : Extension of the reduced repayment rates . Quarterly minimum repayment amount per single ship company shall amount to at least USD 100,000 .Bank consortium has agreed to only seriously demand payment from single ship companies.  Full Article

Marenave Schiffahrts receives letter of intent regarding sale of fleet and release from liability
Monday, 6 Jun 2016 10:29am EDT 

Marenave Schiffahrts AG : Has received today in course of ongoing discussions with banks financing Marenave-fleet a letter of intent that remains subject to approval by banks' respective bodies . According to letter entire Marenave-fleet shall be sold for best possible repayment of ship financing loans which were granted by banks to single ship subsidiaries and guaranteed by company . Furthermore, banks are willing to release company - under certain prerequisites - from any liability . Management board will now examine proposal in detail with its advisors and is optimistic that concept contemplated in letter of intent can be implemented .Release from liability is an essential requirement for entry of a potential investor.  Full Article

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