DGAP-Ad hoc: artnet AG

DGAP-Adhoc: artnet AG: French Court of Cassation decides in pre-trial ruling that the appeal filed by artnet did not meet the conditions for admissibility and cannot be reviewed until such conditions are met

artnet AG / Key word(s): Legal Matter

30.03.2016 21:36

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.

---------------------------------------------------------------------------

Ad hoc Announcement pursuant to Sec. 15 of the German Securities Trading Act

French Court of Cassation decides in pre-trial ruling that the appeal filed by artnet did not meet the conditions for admissibility and cannot be reviewed until such conditions are met

(Berlin, March 30, 2016) In the lawsuit of the photographer Stéphane Briolant vs. artnet AG, artnet France Sarl, and Artnet Worldwide Corp. concerning his claim of a violation of copyright, the French Court of Cassation has ruled in favor of Mr. Briolant on a procedural aspect.

On the previous level of jurisdiction, the Paris Court of Appeal had ordered artnet AG, artnet France Sarl, and Artnet Worldwide Corp. to pay 764,412 EUR to Mr. Briolant, and held that artnet AG, artnet France Sarl, and Artnet Worldwide Corp. are jointly and severally liable (cf. ad hoc announcement dated March 13, 2015). The appeal filed against this judgment by artnet AG, artnet France Sarl, and Artnet Worldwide Corp. intended to obtain from the Court of Cassation, to cancel this ruling and to have the whole case reviewed on the merits by a different Court of Appeals. However, Mr. Briolant filed a motion claiming that this appeal cannot be processed by the Court of Cassation for failure to meet certain prerequisites with respect to the enforcement of the ruling from the Court of Appeals. This motion was argued by the parties before the Court in a hearing which led to a pre-trial ruling in favor of Mr. Briolant's motion.

Consequently, the pre-trial ruling is not based on any consideration of the arguments that artnet AG, artnet France Sarl, and Artnet Worldwide Corp. formed to challenge the grounds of the ruling from the Court of Appeals. The Court of Cassation could re-register the case if all or part of the above mentioned compensations are paid within a two-year period.

The Company will intensely evaluate its legal options as well as the appropriate financial classification for this matter. Additionally, it will evaluate whether the publication of the annual financial statements and of the consolidated financial statements for the fiscal year 2015, have to be postponed beyond March 31, 2016. Provisions in an amount of 800,000 EUR have already been recognized in 2015 as a result of the ruling from the Court of Appeals.

30.03.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de

--------------------------------------------------------------------------- Language: English Company: artnet AG Oranienstraße 164 10969 Berlin Germany Phone: +49 (0)30 20 91 78 -0 Fax: +49 (0)30 20 91 78 -29 E-mail: info@artnet.de Internet: www.artnet.de ISIN: DE000A1K0375 WKN: A1K037 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------