PTA-Adhoc: United Labels AG: Spanish subsidiary insolvent

Monday, 21. October 2019 22:15

Public disclosure of inside information according to article 17 MAR

Münster (pta034/21.10.2019/22:15) - Due to statutory obligations, the Spanish subsidiary United Labels Iberica S.A. will soon apply for insolvency. This has been decided by the management of the Spanish entity today. This decision also affects indirectly the Italian subsidiary of United Labels Iberica S.A. which has been inactive for a while.
There are no inter-company agreements which oblige our company to compensate any losses of the Spanish subsidiary.
In the stand alone accounts of United Labels AG the participation in has been fully written off, on group level, the goodwill of the Spanish subsidiary as well as the respective deferred tax assets have been written off. No receivables towards the Spanish subsidiary exist on group company level.

This event will have a negative impact on the annual forecast, the extend of which is currently under review.

The 9 month report of United Labels AG will be released shortly.

United Labels AG - Investor Relations -
Gildenstraße 6, 48157 Münster, Tel.: +49 (0) 251-3221-0, Fax: +49 (0) 251-3221-960


emitter: United Labels AG
address: Gildenstraße 6, 48157 Münster
country: Germany
contact person: Investor Relations
phone: +49 251 3221-0

ISIN(s): DE0005489561 (share)
stock exchanges: regulated market in Frankfurt; free market in Stuttgart, free market in Munich, free market in Hamburg, free market in Dusseldorf; open market in Berlin, Tradegate

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