30 October 2023 2023

Statement by ND SatCom GmbH

ND SatCom GmbH takes the allegations made in the media and the suspicions that have prompted the Ravensburg public prosecutor's office to take action due to a possible violation of the sanctions in force for deliveries to Myanmar very seriously. An independent and comprehensive audit of the business activities carried out in this context was therefore commissioned.

Statement by ND SatCom GmbH

The Munich-based law firm CREYDT.LAW, which specializes in foreign trade law, sanctions and compliance, is to fully investigate the processes, control mechanisms and approval procedures and evaluate them objectively and professionally.

Complete clarification and maximum cooperation with the authorities

"The aim is to comprehensively and fully investigate all allegations," says CEO Alexander Müller-Gastell. "We want the greatest possible transparency. CREYDT.LAW will review and assess all internal processes and assessments by inspecting documents and conducting interviews, examining documentation and evaluating all official correspondence with authorities and, where possible, interviewing licensing authorities and other experts. With CREYDT.LAW, we have commissioned one of the leading law firms in the field of foreign trade law. The founder, Dr. Matthias Creydt, is also a specialist in the aerospace and defense industry."

The mandate for CREYDT.LAW includes a legal and ethical assessment. The findings will also be made available to the investigating authorities.

Alexander Müller-Gastell: "We still do not believe that there was any criminal misconduct, violation of sanctions or deliberate circumvention of international, binding regulations. Nevertheless, in the interests of responsible corporate governance, we consider it essential to investigate the matter with extreme care and independent expertise."

Lawyer Alexander von Saucken from the law firm SvS Rechtsanwälte was mandated to protect the company's interests vis-à-vis the law enforcement authorities.