DGAP-Ad hoc: METRIC mobility solutions AG

DGAP-Adhoc: METRIC mobility solutions AG: Application for the initiation of insolvency proceedings under own administration in accordance with Section 270a of the German Insolvency Ordinance (InsO)

METRIC mobility solutions AG / Key word(s): Insolvency

28.06.2016 20:55

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

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Hanover, 28.06.2016. Following an in-depth and careful inspection, the Board of Management of METRIC mobility solutions AG (Frankfurt Securities Exchange, Prime Standard; ISIN DE000A1X3X66) today adopted a resolution to file an application for the initiation of insolvency proceedings with the competent Local Court of Hanover under the Company's own administration pursuant to Section 270a of the German Insolvency Ordinance (InsO) due to insolvency in order to restructure the Company under its own management and control. The objective is for entrepreneurial responsibility to remain in the hands of the Board of Management in office to date and for business operations to continue. Unexpected budget deviations in terms of turnover, occurring in tandem with delays in the completion of large-scale projects and the acquisition of a large-scale contract award, have led to a liquidity bottleneck. It was not possible for this liquidity bottleneck to be eliminated either by the receipt of an advance payment in settlement of substantial services performed upfront within the scope of an ongoing large-scale project or by tapping into additional sources of funding. Negotiations on a bridge financing arrangement conducted in the meantime, which have been promising to this day, have not achieved the desired objective. The foreign subsidiaries will not be directly affected by the application for the initiation of insolvency proceedings under own administration. METRIC mobility solutions AG Rotenburger Str. 20 30659 Hanover

The Board of Management

Contact: METRIC mobility solutions AG Sybille Gäbisch +49 511 6102-300 IR@metric-group.com

28.06.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap.de

--------------------------------------------------------------------------- Language: English Company: METRIC mobility solutions AG Rotenburger Str. 20 30659 Hannover Germany Phone: +49 (0)511-6102-0 Fax: +49 (0)511-6102-411 E-mail: info@metric-group.com Internet: http://www.metric-group.com ISIN: DE000A1X3X66 WKN: A1X3X6 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------