CARRIER 1 INTERNATIONAL S.A.
Carrier 1 S.A. english
Carrier1 announces progress in pursuing strategic opportunities
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Carrier1 announces progress in pursuing strategic opportunities
Luxembourg 28-01-2002 – Carrier1 International S.A. (the “Company”) (Neuer
Markt: CJN, NASDAQ: CONE) announced that the Company has engaged two financial
advisers concerning the possibility of entering into different potential
strategic transactions which would enable it to continue to fund its
operations. The Company is in preliminary stages of discussions with several
parties. On January 4, 2002, the Company commenced an exchange offer, scheduled
to expire on February 1, 2002, to repurchase its USD 160 million and Eur 85
million high yield debt for cash and shares. The Company’s ability to continue
to fund its operations after the exchange offer until it enters into a
strategic transaction, if any, will depend upon the amount of notes tendered in
the exchange offer, since a high take-up by note holders will require a higher
cash payment The Company had as at 22 January 2002. approximately USD 88.4
million in cash and cash equivalents, restricted cash and available-for-sale-
securities, as compared to USD 133.7 million as at 30 September 2001. The
Company intends to collect from its subsidiaries the cash required to
consummate the exchange offer which it does not already hold itself, although
it may face certain restrictions in doing so. The terms of the exchange offer
provide that the shares being offered will not be transferable until they are
listed on the Neuer Markt.
Contact: Keith Johnson; Carrier1; Email: keith.johnson@carrier1.com; Phone: +4
20 7001 6000
end of ad-hoc-announcement (c)DGAP 28.01.2002
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WKN: 932 485; ISIN: LU0107939984; Index: NEMAX 50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
281548 Jän 02
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