August 13, 2012

Annulment Action against Capital Reduction – Suspension of Proceedings

Shareholders to hold again a vote on capital reduction

Ad-Hoc Shareholder's/Press Release in accordance with § 15 WpHG

Berlin, August 13, 2012. A shareholder has filed at the Regional Court of Berlin (file number 100 O 4/12) an annulment action against a resolution adopted by the Annual General Meeting on December 5, 2011 under agenda item 4 relating a capital reduction.

On August 10, 2012 the Supervisory Board of TELES decided to submit a proposal to the General Meeting suggesting the annulment of the capital reduction resolution on the next Annual General Meeting. The main shareholder, Prof. Dr.-Ing. Schindler, intends to vote on the next Annual General Meeting for the annulment of the capital reduction resolution with all shares held directly and indirectly by him.

In light of this, on August 10, 2012 the parties agreed within a settlement agreement to unanimously apply for the suspension of the proceedings. The plaintiff agreed to abandon the claim immediately after the Annual General Meeting passed a resolution relating the annulment of the capital reduction resolution.

All details of the settlement agreement will be published within the Federal Gazette.

TELES AG Informationstechnologien
Board of Directors