DGAP-Ad-hoc: Marenave Schiffahrts AG / Key word(s): Agreement/Restructure of Company Marenave Schiffahrts AG: Investment Agreement with Offen Group and DEVK; ongoing negotiations on agreement on restructuring and release of liability 20-Feb-2017 / 20:28 CET/CEST Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Today Marenave Schiffahrts AG (Marenave or Company) has concluded an Investment Agreement with CPO Investments GmbH & Co. KG (Offen Group) and DEVK Allgemeine Versicherungs-Aktiengesellschaft (together the Investors). In substance, the 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 EUR 2,000,000.00 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 EUR 14,000,000.00. 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. In future a close strategic cooperation between Offen Group and the Company is envisaged. In order to promote this cooperation, the investment in the Company is also subject to Offen Group being represented in the Supervisory Board and the Management Board of the Company. As set out in the ad-hoc-announcement on 16 December 2016, the participation of investors is an essential part in the context of the envisaged comprehensive restructuring concept outside insolvency. The details of the capital measures by which the Investors' investment shall be effected remain to be determined. The negotiations with the financing banks on an agreement on the restructuring and release of liability are being continued. The Management Board --------------------------------------------------------------------------- 20-Feb-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Marenave Schiffahrts AG Caffamacherreihe 7 20355 Hamburg Germany Phone: 040 / 28 41 93 0 Fax: 040 / 28 41 93 297 E-mail: [email protected] Internet: www.marenave.com ISIN: DE000A0H1GY2 WKN: A0H1GY Listed: Regulated Market in Hamburg; Regulated Unofficial Market in Berlin, Munich; Open Market in Frankfurt End of Announcement DGAP News Service --------------------------------------------------------------------------- 545977 20-Feb-2017 CET/CEST