EANS-Adhoc: november Aktiengesellschaft
Extraordinary Income Through Extensive
Waiver of Debts
Restructuring of Long-Term Repayment Agreement
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
04.01.2011
Today, november AG (ISIN: DE000A0Z24E9) succeeded in negotiating an extensive waiver of debts with the major shareholder Camkan Invest S.a.r.l. and a restructuring of repayment modalities of all remaining interest-free liabilities. As a result, a waiver was achieved for two loans totaling approx. EUR 1.376 mio. Additionally, the repayment of one interest-free loan in the amount of TEUR 255 is suspended in 2011 and installments starting 2012 are agreed upon. For PROGEN Biotechnik GmbH the existing interest-free loans are reduced by an amount of TEUR 75 and for the remaining liabilities of approx. EUR 1.016 mio the repayment modalities were improved considerably, i.e. 144 monthly installments were negotiated. With this agreement, the total liabilities of the november group owed to the major shareholders Camkan Invest S.a.r.l./alpha capital management GmbH could be reduced from approx. EUR 5.132 mio (state of Dec. 12, 2008) to now approx. EUR 1.272 mio, owed to Camkan Invest S.a.r.l. This waiver of debts results in extraordinary income of approx. EUR 1.451 mio which significantly improves the equity capital by this amount. Furthermore, the changed repayment modalities reduce short-term liabilities considerably by converting them into long-term liabilities. Thanks to the continuously constructive cooperation with the major shareholder Camkan Invest S.a.r.l. in the restructuring process another significant milestone was achieved for the financial stabilization of the november AG and its subsidiaries.
end of announcement euro adhoc
Further inquiry note:
Dr. Dirk Zurek
Vorstand
Tel.: +49 (0) 221 82200 520 10
E-Mail: ir@november.de
Branche: Biotechnology
ISIN: DE000A0Z24E9
WKN: A0Z24E
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade