Silvia Quandt Capital Markets (Switzerland) AG with a new name: Private Capital Markets AG

Press Release from 12.03.2013

After a continued blockade of the Company’s name change since the end of September 2012 by the former Board of Silvia Quandt Capital Markets (Switzerland) AG through the German citizen Mr. Joachim Paech, this was repealed by the Commercial Court of Zurich on 17.01.2013 and it was entered in the Register of the canton on 11.03.2013. The new name of the company is Private Capital Markets AG.

This paved the way for the reconstruction of the company and since the end of September 2012, the ongoing rehabilitation can be brought to an end as planned. In addition to the name change, the former auditor, the TSZ Trust Company Sauter + Co. AG Zurich, was deleted from the commercial register. The trust's auditor was not given due to the involvement of the auditor in an ineligible natural bankruptcy of the company.

Because of the behavior of the previous person in charge, an internal audit was carried out, which has resulted in numerous offenses of embezzlement to the detriment of the company, in which the former board members, the German citizen, Mr. Joachim Paech and Christoph Streib, and the Trustee, Mr. Victor Sauter were involved. The complaints were raised to compensate for damages. Due to the seriousness of the offenses, one currently tests, whether criminal offenses exist. Should this be the case, the Board will immediately bring this to the display.

The Board of Directors