EANS-Adhoc: Fortune Management Inc.
Fortune continues Operations in 2010
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Company Information
29.12.2009
Fortune Management Inc. (General Standard, ISIN USU026281027, SIN: A0BLYY) informs that it will continue to operate beyond the Year End 2009 into 2010 in accordance with the Restructuring Agreement with its former Bond- and Loannote-Holders entered into force in 2008. Thanks to strict budget discipline, the early execution of cost cutting measures and the shifting of expenses into 2010, this has become possible. As a result, Fortune retains its position as an operational party in the various actively pursued judicial proceedings. The first hearing in the CHF 17.5 million claim against Stanford (Suisse) Ltd. in Zurich is set for 20 May 2010. The indictment in the criminal case against the manager and a number of former employees of one of Fortune´s asset management firms is expected early in the New Year. The Supreme Court decision in the defense against the HLSP appeal in Delaware is also expected in the first few weeks in 2010. The courts had ruled in favor of Fortune in the first instance. Fortune also will be able to continue to actively support its FSEM joint-venture in the United Arab Emirates, which is currently assessing the 'Dubai Crisis' and its possible impacts on its business.
end of ad-hoc-announcement ========================================== ====================================== FORTUNE Management Inc. is listed on the Frankfurt Stock Exchange in the Regulated Market (General Standard) under the Symbol: FMI1 (ISIN: USU 026281027) as well as on Nasdaq Dubai.
end of announcement euro adhoc
Further inquiry note:
Thomas Luber
FORTUNE Management Inc.
Phone +49 69 9441 8069
IR@fortune-management.com
c/o Fortune Services AG
Bahnhofstrasse 10, P.O. Box 324 CH-6301 Zug
Branche: Financial & Business Services
ISIN: USU026281027
WKN: A0BLYY
Börsen: Berlin / free trade
Stuttgart / free trade
Düsseldorf / free trade
Frankfurt / regulated dealing/general standard