euro adhoc: Advanced Medien AG
Advanced Medien AG carries out
capital reduction (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Munich, September 24, 2003 - Advanced Medien AG (SIN 509 300, ISIN DE- 005093009) today announced that it will carry out the capital reduction as resolved by its annual general meeting on June 20, 2003 and pursuant to the entry in the commercial register of the Munich Local Court on July 3, 2003. The company's capital stock will be reduced from EUR 17,995,000.00, divided up into 17,955,000 no-par value shares, by EUR 16,159,500.00 to EUR 1,795,000.00. The reduction is carried out in accordance with the regulations regarding simplified capital reductions (§§ 229 ff. German Stock Corporation Act) in order to offset impairments, cover other losses and transfer funds to additional paid-in capital. The reduction of the capital stock is carried out by way of a reverse stock split at a ratio of one for ten. To carry out the capital reduction, each ten old no-par value shares (SIN 509 300, ISIN DE-0005093009) will be converted into one new no-par value share (SIN 126 218, ISIN DE-0001262186) with a mathematical value of EUR 1.00.
The change of the stock exchange listing will be made on October 06, 2003 after the market close. From tuesday, October 07, 2003, trading will be limited to the shares of the reduced capital (SIN 126 218, ISIN DE-0001262186). Shareholders for whom the capital reduction results in fractional shares are requested to ask their bank to round off their number of shares by purchasing or selling fractional shares as necessary. Fractional shares must be adjusted by November 17, 2003 at the latest.
The full announcement of the capital reduction will be published in the electronic Federal Bulletin and in the Financial Times Deutschland on September 26, 2003.
Carrying out the capital reduction is one of several measures related to the loss amounting to half of the capital stock of the company that was reported on March 19, 2003, and a further step towards implementing the merger with an unlisted partner company.
The management board
end of announcement euro adhoc 24.09.2003
Further inquiry note:
Advanced Medien AG, Susanne Rehm,
Branche: Media
ISIN: DE0005093009
WKN: 509300
Index: CDAX, Classic All Share, Prime All Share, Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade