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Carbures has filed a lawsuit against Emerging Market Intrinsic for illegal speculation with its shares

The Company is claiming 150 million in the lawsuit filed with the New York Supreme Court.

• Carbures has filed a lawsuit with the Court of New York against the fund Emerging Market Intrinsic (EMI) for illegal speculation transactions which are harming its listing.

• It is claiming 150 million dollars for the damages caused to the Company due to the drop in its share price, among others.  

• The Company closed a financing transaction with said fund for seven million in September and the lender is allegedly speculating in the market with the shares pledged as a guarantee for the loan.

Madrid, 27 November 2015. Carbures has detected speculative transactions it considers to be illegal with the Company's shares in the latest sessions, especially since 23 November, which are causing it to sharply fall in the stock market. For this reason, the Company filed a 150 million dollar lawsuit on 23 November with the Courts of New York against Emerging Market Intrinsic (EMI) as it has detected the illegal negotiation and lending of Carbures shares which were pledged exclusively as a guarantee for a financing transaction formalized by the Company.  

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Carbures formalises the 30 million investments in Black Toro Capital by means of a capitalised loan

• The company chose to formalise the 30 million investment in the Black Toro Capital fund by means of a capitalised loan formula through shares but is reserving its decision to execute the conversion or not.  

• The Carbures Board of Directors appointed its Chairman as Executive Chairman as one more step by the company to accompany its industrial and business growth with its operations and management.  

• Carbures has added Domingo Ureña, former Chairman of Airbus Spain and former Executive Vice-Chairman of Airbus Defense, as an external advisor and a member of the industrial group's strategy committee for its aviation and defense business.

Madrid, 27 October 2015. Carbures will earn 30 million to continue complying with its business plan and is taking strategic steps towards structural growth as a company. The company's Board of Directors has approved the formalisation of the 30 million financial transaction signed in September with the Black Toro Capital (BTC) fund through a share-convertible credit formula. The decision to capitalise the loan or not in shares is reserved by Carbures. On the other hand, the company's highest management body has approved the appointment of its Chairman as Executive Chairman. The appointment was made in response to the need to reinforce Carbures' management capacity due to the industrial volume the group has reached as well as the expected growth in the automotive sector and the business development underway in the various countries in which it operates.

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CARBURES ALLIES WITH 2elle-engineering TO MANUFACTURE CARBON RIMS

The companies design new carbon wheels with the objective of manufacturing in 2017

• The Spanish company and the Italian engineering design new carbon fiber wheels and produce the prototypes with the objective of production in 2017  

• There are two types of design: one of hybrid wheels of aluminum and carbon fiber that reduces weight by 30 percent compared to the lightest metal ones. And another design, only of carbon fiber, which lowers the weight 45 percent, almost half.

• The manufacturing processes of Carbures, fully automated with linears of in-house technology, raise production to allow long series of 30,000 units per year.

Madrid, October 8, 2015. Carbures advances in the automotive industry. The company specialized in manufacturing vehicle’s structures and parts of carbon fiber, has signed a contract with the Italian company 2elle engineering establishing the development of the manufacture of car rims of two types: a hybrid one, made of aluminum and carbon fiber, meaning a reduction of weight of 30 percent compared with the traditional metal ones; and another ones only of carbon fiber, whose weight reduction reaches 45 percent. Both companies have set themselves the goal of industrially manufacture at a rate of 30,000 units per year from 2017.

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Carbures reinforces its corporate governance structure

Appoints two directors: of Legal Affairs and Compliance, Markets and Communication

• The company creates a Legal Affairs Department and a Compliance, Markets and Communication Department, putting an expert at the head of each one.

• The appointments are part of the efforts to meet the need to accompany Carbures' industrial growth with that of the Corporate Governance areas.

Madrid, 27 October 2015. Carbures has reinforced its corporate governance structure to balance it with its growth as a company and, thus, meet the structural corporate excellence requirements imposed by the market and the stock exchange in this area. To do so, the Carbures Board of Directors has created the Legal Affairs Department and the Compliance, Markets and Communication Department and has put Tomás Rodriguez Peñamaría and Juan Ignacio Peinado, respectively, at the head of each.

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Carbures increases its revenue in the first six month period by 41%

The EBITDA improves by 57%, leaving it at -2.6 million, forecasting 2.8 million by the closing of this financial year.

• The Group gets its financial situation back on track, due fundamentally to an increase in sales in the aeronautic sector and it raises its operating revenue to 30.2 million Euros.  

• The Company foresees that it will close this financial year with financial equilibrium with an EBITDA of 2.8 million Euros.  

In Madrid on the 30th of September 2015. In Madrid on the 30th of September 2015. Carbures gets back on the right track and expects to finish the year close to financial equilibrium. The Industrial group, specialised in the manufacturing of pieces and structures made from carbon fibre, invoiced 28.6 million Euros in the first six month period of 2015, a growth of 41% in comparison to the sales carried out during the same period in 2014 (20.2 million). The operation revenue has risen to 30.2 million Euros, 38% more than in the first six month period of the previous year. In addition, Carbures has improved its EBITDA for the first six month period, leaving it at -2.6 million, 57% better than the -6.2 million of the same period in the previous financial year.

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