04.04.2007 – 14:36

november AG

euro adhoc: november AG
Capital measures
Executive and supervisory board propose resolution of capital reduction and capital increase against contribution in kind for financial restructuring of the company to shareholder’s meeting The executive and

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.

Company Information

04.04.2007

Erlangen, 04. April 2007. In order to continue the financial 
restructuring of november AG i.I., the annual shareholder’s meeting, 
taking place on May 22nd, 2007, shall decide on the capital reduction
in a simplified procedure as compensation for losses and 
depreciations in assets from Euro 7,508,320.00 by Euro 3,754,160.00 
to Euro 3,754,160.00 (at the rate of two to one). Furthermore, the 
shareholder’s meeting shall for the necessary financial restructuring
decide on a capital increase against contribution in kind with the 
exclusion of the shareholders’ subscription rights in return for the 
contribution of the companies IBL Gesellschaft für Immunchemie und 
Immunbiologie mbH (IBL), Hamburg, and PROGEN Biotechnik GmbH 
(PROGEN), Heidelberg, into november AG i.I. by the company Biomed 
Beteiligungsgesellschaft mbH and Mr. Dr. Claus Müller. The 
contribution of both companies will presumably - among other 
conditions - be subject to a final, legally binding resolution of the
shareholder’s meeting on the said corporate action, the exemption 
from the obligation to publish and make a mandatory offer by the 
German Federal Financial Supervisory Authority (Bundesanstalt für 
Finanzdienstleistungsaufsicht) according to § 37 Takeover Act (WpÜG) 
and the successful termination of the insolvency proceedings on the 
assets of november AG. For this purpose, it is intended to enter into
a contribution contract with Biomed Beteiligungsgesellschaft mbH and 
Mr. Dr. Claus Müller prior to the shareholder’s meeting. For purposes
of the capital increase against contribution in kind with the 
exclusion of the shareholders’ subscription rights and in 
consideration of the capital reduction, 10,287,356 new notional 
non-par-value shares shall be issued at an issue price of Euro 1.74 
per notional non-par-value share (arithmetically Euro 0.87 per share 
prior to the capital reduction). Moreover, the shareholder’s meeting 
shall in consideration of the capital reduction and the capital 
increase against contribution in kind decide on a capital increase 
for cash by up to Euro 7,020,758.00 with subscription rights for the 
shareholders.

end of announcement                               euro adhoc 04.04.2007 13:59:35

Further inquiry note:

Marcus Weichert
Leitung PR/IR
Telefon: +49(0)9131 75088 868
E-Mail: weichert@november.de

Branche: Biotechnology
ISIN: DE0006762909
WKN: 676290
Index: CDAX, Technologie All Share, Prime All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
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