BIODATA Information Technology AG
Biodata Inform. Tech. english
Biodata With Significant Value Adjustment
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Lichtenfels, 30 October, 2001. – Biodata Information Technology today announced
the preliminary findings of an auditor’s report determining value adjustment of
more than 40 million Euro. This means Biodata is overindebted and close to
insolvency. The Board re-adjusts the group’s restructuring process to the new
results and intensifies the search for investors.
Biodata’s Board of Directors and Supervisory Board had assigned an external
auditor that announced a preliminary report. According to the report, there is
value adjustment of significantly more than 40 million Euro. Consequently,
Biodata is heavily indebted. Additionally, the company is threatened by
insolvency.
The value adjustment is caused by significant devaluation in stakes, loans and
receivables with associated companies, an amount of more than 30 million Euro.
Devaluation concerning Biodata Information Technology AG mainly is the result
of receivables without value generated by the company’s affiliates. In this
context, the auditor determined irregularities in the volume of sales reported
by the affiliates.
The Board recognizes the necessity to re-adjust the group’s restructuring
process which had been performed parallel to the auditor’s investigations. In
addition to additional operative changes, the Board aims to intensify talks
with potential investors.
Editorial Contact:
Biodata Information Technology AG,
Burg Lichtenfels
35104 Lichtenfels
Tel +49 (0) 6454 9120 11 8 or Tel. +49 (0) 6454 9120 132
Fax +49 (0) 6454 9120 18 0
end of ad-hoc-announcement (c)DGAP 30.10.2001
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WKN: 542270; Index: NEMAX 50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
301340 Okt 01
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