euro adhoc: InfoGenie Europe AG
Restructuring & Recapitalisations /
InfoGenie Europe AG plans further capital increase against non-cash
capital contributions --- Reduced revenues and earnings expectations
- business model extended to include Internet p
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Berlin, October 28, 2003. InfoGenie Europe AG, listed on the Prime Standard of the German Stock Exchange (ISIN: DE0007472060) anticipates a profit for the Group as a whole for the first time this year despite the current phase of economic weakness; however, the extent of this profit will no longer be in line with the target planned at the beginning of the financial year. According to the company, revenues will total about 10 million euros for the current fiscal year, and the group is on the threshold to positive earnings territory. Apart from the subdued macro-economic recovery, recently enacted legislation in connection with value added service phone numbers is also impeding business. In order to reduce entrepreneurial risks in this sector, InfoGenie Global GmbH has therefore sold its holding in Crosskirk S.L., Palma de Majorca. It still retains reduced income from software license operations.
In addition, InfoGenie Europe AG is reinforcing its base by means of further acquisitions and has extended its business model to include the field of Internet payment systems. To this end, Munich-based Netsales GmbH is to be initially acquired along with Click2Pay GmbH. Netsales successfully markets advertising space on a well-known Internet portal. Click2Pay has an exclusive license to the Internet payment system of the same name, which was developed by Wire Card AG by order of ebs Holding AG as a micro and macro payment solution for European dealers and major Internet portals.
Both companies are to be integrated by means of a capital increase derived from authorized capital against a non-cash capital contribution amounting to a total volume of 2.225 million euros - based on a Management Board resolution approved by the Supervisory Board.What is required to this end is an audit certificate relating to contributions in kind as well as presentation of the certificate with the commercial register in order for the entry to be effected. To the extent that the commercial register entry with the local court can be completed by the beginning of December, in terms of the stock exchange prospectus of early June 2003 it will be possible to avoid further substantial costs involved in arranging for the company to receive a stock market listing.
end of announcement euro adhoc 31.10.2003
Further inquiry note:
InfoGenie Europe AG
Investor Relations
An den Treptowers 1
D-12435 Berlin
Tel.: +49 (030) 726102-122
Fax : +49 (030) 726102-199
Email: ir@infogenie.com
Branche: Telecommunications Services
ISIN: DE0007472060
WKN: 747206
Index: CDAX, Prime All Share, Prime Standard, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade