Corporate News

elumeo SE: Public Prosecutor's Office exonerates management

- Investigative proceedings pursuant to Section 170 (2) StPO dropped

- Wolfgang Boyé, Thomas Jarmuske and Bernd Fischer exonerated

Berlin, 1 October 2019.

The Berlin Public Prosecutor's Office has closed its investigations of three senior managers of elumeo SE pursuant to Section 170 (2) of the German Code of Criminal Procedure (StPO). The preliminary proceedings had to be initiated by law after the Berlin Public Prosecutor's Office had received a corresponding complaint. This was largely identical to the civil action brought by SWM Treuhand AG, represented by attorney Roderich Schaetze.

The points at issue in the civil action and the criminal complaint are alleged unlawful actions by the members of the elumeo Executive Board at the expense of the group companies Silverline Distribution Ltd., Hong Kong, PWK Jewelry Company Ltd., Bangkok, as well as the Directors and other guarantors working there.

The civil action has been accompanied by an extensive media campaign in which attorney Roderich Schaetze has disseminated a myriad of false accusations and allegations against the company and its management via the media. Wolfgang Boyé, Chairman of the Executive Board of elumeo SE: "The last few weeks have not been easy, neither for the company nor for the employees of the elumeo Group, due to the massive smear campaign carried out by the attorney Roderich Schaetze via the media. It is therefore very reassuring for us that the case has now been dropped. We also do not see any prospects of success for the other side with regard to the other proceedings that attorney Schaetze and his supporters have instigated."

About elumeo SE:

The elumeo Group, headquartered in Berlin, is the leading European company in the electronic distribution of high-quality gemstone jewelry, mainly produced in India and Thailand. elumeo's goal is to make high-quality gemstone jewelry an affordable luxury for everyone.

Through a variety of electronic distribution channels (such as TV, the Internet, Smart TV and Smartphone App), the listed company offers its customers primarily colour gemstone jewelry at comparatively low prices. The company sells its jewelry predominantly through direct sales. For example, the elumeo Group operates home shopping television stations in Germany and Italy as well as web shops in Germany, the UK, Italy, France, the Netherlands, Spain, Belgium and the United States.

Contact:

elumeo SE

Bernd Fischer, Managing Director (CFO)

Erkelenzdamm 59/61, 10999 Berlin

Phone: -231

Fax: -650

e-mail: