Article No4

The local court Berlin-Charlottenburg resolved to open the insolvency proceedings over the assets of Heliocentris Energy Solutions AG, Heliocentris Industry GmbH, Heliocentris Fuel Cell Solutions GmbH and Heliocentris Academia GmbH.

On 01 December 2016, the local court Berlin-Charlottenburg resolved to open the insolvency proceedings over the assets of Heliocentris Energy Solutions AG, Heliocentris Industry GmbH, Heliocentris Fuel Cell Solutions GmbH and Heliocentris Academia GmbH. In each case, lawyer Joachim Voigt-Salus was appointed as insolvency administrator.

Odasco Heliocentris Europe GmbH, a subsidiary of Odeh Asalem Automation Systems - ODASCO LLC, Dubai, acquired the material assets of Heliocentris Industry GmbH at the Munich location and Heliocentris Fuel Cell Solutions GmbH at the Wendlingen location. The business operations of Heliocentris Industry GmbH and Heliocentris Fuel Cell Solutions GmbH at the locations named are continued by the purchaser. Information to ODASCO Heliocentris Europe GmbH will be available HERE shortly.

Heliocentris Academia International GmbH, a company of Horizon Educational group, acquired the material assets of Heliocentris Academia GmbH. The business operations of Heliocentris Academia GmbH are continued. Information to Heliocentris Academia International GmbH will be available shortly.

The agreed asset deals have no direct effect on the stock market listing of the insolvent Heliocentris Energy Solutions AG in the Prime Standard of the Frankfurt Stock Exchange. THIS LINK will take you to the investor relations section of the insolvent Heliocentris Energy Solutions AG.