Notice of preliminary insolvency proceeding for subsidiary Strax Holding GmbH

Strax Holding GmbH was today notified of a preliminary insolvency proceeding by the court in Bonn, Germany.

This initiates a 90-day procedure where the company works together with an administrator to investigate the potential for the business to continue operations as a going concern.

The holding in Strax Holding GmbH has been written down to zero previously in STRAX AB.

For further information

For further information please contact Ingvi T. Tomasson, Chairman and co-founder, STRAX AB, +354 698 2277.

About STRAX

STRAX is a global leader in accessories that empower mobile lifestyles. Our portfolio of branded accessories covers all major mobile accessory brands and categories: Protection, Power, Connectivity, as well as Personal Audio. The remaining own brand is Planet Buddies. We reach a broad customer base, through 70 000 brick and mortar stores around the globe, as well as through online marketplaces and direct-to-consumers.

Founded as a trading company in 1995, STRAX has since expanded worldwide and evolved into a global brand business. Today we have approximately 70 employees in 6 countries. STRAX is listed on the Nasdaq Stockholm stock exchange.

Divested own brands consist of Urbanista, Gear4 and Clckr.

Discontinued operations include Health & Wellness and licenced brand portfolio of adidas and Diesel.

Attachments

Notice of preliminary insolvency proceeding for subsidiary Strax Holding GmbH

Notice of preliminary insolvency proceeding for subsidiary Strax Holding GmbH