Staramba SE: Board of Directors decides on reorganization of business activities, which involves job cuts

The Board of Directors of STARAMBA SE (XETRA: 99SC) today decided to implement a reorganization and associated restructuring measures in order to position the company in a sustainable way in the market and thus develop profitable business segments in the short to medium term. The reorientation of the business activities will be accompanied by a reduction of approx. 40% of the personnel.

Staramba SE’s business strategy will be sharpened and adapted in such way that the business model of Staramba SE will be concentrated with immediate effect on two business areas. The focus is on the one hand on the technology area “Scanner”, in which all activities in connection with the scanner technology developed by Staramba itself (e.g. photogrammetry scanner 3D-INSTAGRAPH®) are concentrated, and on the other hand on the area “Virtual Reality”, which so far has mainly been filled by the Virtual Reality project MATERIA.ONE.

After appropriate preparation by the management, the Board of Directors today decided to restructure the Virtual Reality division so that the resources necessary for the establishment and development of this business area can be used efficiently and purposefully. In addition to the further, long-term development of the MATERIA.ONE project, in the near future the focus will be on an offer from the company to plan, develop and implement innovative projects in the field of virtual reality. The goal is to generate additional income with the company’s existing know-how in the conception and development of virtual worlds and applications.

These changes require an adjustment of the cost structure, including the personnel reductions outlined above. The managing director has been entrusted with the implementation of the reorganization of business activities and authorized to take appropriate measures.

This publication and the information contained herein only serve information purposes and do not constitute a securities prospect and neither contain an offer to sell securities of Staramba SE nor an invitation to submit an offer to purchase securities in the United States of America, Canada, Japan or Australia. This publication and the information contained herein may not be distributed, published or transferred – be it directly or indirectly – in the United States of America, Canada, Japan or Australia. In the United States of America, securities may only be sold or offered for sale or purchase in the United States of America with prior registration under the provisions of the U. S. Securities Act of 1933, as amended, or without prior registration, only on the basis of a derogation. The shares of Staramba SE are not and will not be registered under the provisions of the U. S. Securities Act of 1933, as amended, or the securities laws of Australia, Canada or Japan and will not be offered or sold in these countries. The dissemination of this announcement may be subject to legal restrictions in certain countries; persons who obtain documents or other information mentioned herein should inform themselves of these restrictions and observe them. Failure to comply with these restrictions may constitute a violation of the securities laws of these countries.