euro adhoc: Foris AG
Quarterly or Semiannual Financial Statements
FORIS submits its restructuring program and semiannual figures. (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
1. FORIS AG has resolved to implement an extensive restructuring program www.foris.de. 2. FORIS AG will leave the New Market and seek listing in the Regulated Market by 30 August 2002. Costs and handling charges speak in favor of this decision. 3. FORIS AG will concentrate all of its corporate activities in one location. All of its other offices will be closed by the end of this year at the latest. 4. An extensive program to lower costs has already been introduced so that the 2003 costs will be 1/3 lower than the 2002 costs. 5. FORIS' turnover during the first half of the year was 11.86 million Euros (+ 29.3 % as compared to 9.17 million Euros). Of the 11.86 million Euros, 1.34 million Euros were derived from litigation financing (+ 34 % as compared to 1.0 million Euros) and 10.21 million Euros were derived from the sale of shelf companies (+ 27 % as compared to 7.99 million Euros). 6. FORIS AG showed a deficit of 1.86 million Euros as at 30.06.2002 (deficit for the same period in the previous year: 3.38 million Euros). The forecast annual deficit is 2.5 million Euros (3.5 million Euros).
For further information contact: FORIS AG, Kurt Schumacher Str. 18-20, 53113 Bonn, Tel. 0228-9575022, Fax: 0228-9575027, e-mail: bonn@foris.de , www.foris.de
end of announcement euro adhoc 26.07.2002
Further inquiry note:
Dr. Gerrit Meincke
Branche: Financial & Business Services
ISIN: DE0005775803
WKN: 577580
Index: CDAX Gesamtindex, EURO NM All Share Index, Nemax All Share
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