CARRIER 1 INTERNATIONAL S.A.
Carrier1 S.A. english
Carrier1 International S.A. petitions for a gestion controlee proceeding
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Luxembourg, 12-February-2002 Carrier1 International S.A. (the “Company”)
(Neuer Markt: CJN, NASDAQ: CONE) announced today that it has petitioned the
Luxembourg court requesting admission to a gestion controlee proceeding. The
Company expects that its subsidiaries will file for similar or insolvency
proceedings in their respective jurisdictions shortly and, in many cases, this
week.
The Company is seeking admission to the gestion controlee proceeding in order to
manage an orderly realization of value from its assets. The Company believes
that the gestion controlee proceeding and the related moratorium on creditor
claims will enable it to consider and pursue potential transactions involving
the sale of all or part of its business. There can be no assurance that the
Company will enter into any such transaction. The Company expects in due course
that it will be liquidated but does not expect there to be any recovery for its
shareholders. The Company does not expect to make the scheduled interest
payment on its Senior Euro and Dollar Notes on 15 February 2002.
The Company expects that, in due course, its American Depositary Shares (ADSs)
will be delisted from the Nasdaq National Market System and its shares will be
delisted from the Frankfurt Neuer Markt.
Among other things, in the gestion controlee proceeding, a company s management
requires the approval of a court-appointed official for certain actions and
there is a moratorium on claims by creditors.
Further information: Keith Johnson; Carrier1 International SA; Tel. +44 20 7001
6357; keith.Johnson@carrier1.com
end of ad-hoc-announcement (c)DGAP 12.02.2002
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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
121028 Feb 02
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