A.S. Creation Tapeten AG

Legal Proceedings Report • Nov 8, 2017

News Details

Ad-hoc | 8 November 2017 19:34

A.S. Création Tapeten AG: French supreme court announces decision in anti-trust proceedings

A.S. Création Tapeten AG / Key word(s): Legal Matter

A.S. Création Tapeten AG: French supreme court announces decision in anti-trust proceedings

08-Nov-2017 / 19:34 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.

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In April 2016, the court of appeal (“Cour d’appel”) in Paris reduced the penalties imposed by the French competition authorities (“Autorité de la concurrence”) on SCE – Société de conception et d’édition SAS (“SCE”) and MCF Investissement SAS (“MCF”), two member companies of the A.S. Création Group, by EUR 2.9 million from EUR 5.0 million to EUR 2.1 million. The French competition authorities thereupon lodged an appeal against this verdict with the French supreme court (“Cour de cassation”) .

The supreme court today announced the verdict and revoked the verdict of the court of appeal. The case will thus be returned to the court of appeal, which may retry the case. SCE and MCF have to decide within two months if the court of appeal shall retry the case or if the companies accept the penalties originally imposed. This decision will be taken after having examined the situation together with the companies’ legal counsel.

The penalty of EUR 5.0 million originally imposed by the French competition authorities was already recognised in full as an expense in the 2014 consolidated financial statements. Under French law, the original penalty of EUR 5.0 million had to be paid in full in 2015, with an amount of EUR 2.9 million refunded in 2016 as a result of the ruling of the court of appeal. Because of the verdict of the supreme court the amount of EUR 2.9 million will have to be repaid to the competition authorities until further notice. As a consequence, there will be no impact on the earnings position of the A.S. Création group if the penalties originally imposed are accepted. The financial situation will be affected by a cash outflow of EUR 2.9 million

Gummersbach, November 8, 2017

A.S. Création Tapeten AG

The Managing Board

Contact:

Maik Krämer

Chairman of the Managing Board

Director of Finance and Controlling

Südstr. 47

D-51645 Gummersbach

Phone +49-2261-542 387

Fax +49-2261-542 304

E-Mail: m.kraemer@as-creation.de

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Language:	English
Company:	A.S. Création Tapeten AG
	Südstraße 47
	51645 Gummersbach
	Germany
Phone:	+49 22 61 54 2-0
Fax:	+49 22 61 54 2-3 04
E-mail:	investor@as-creation.de
Internet:	http://www.as-creation.de
ISIN:	DE000A1TNNN5
WKN:	A1TNNN
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

End of Announcement	DGAP News Service