GAP AG GSM Applikationen und Produkte
GAP AG – Actions leading to further business development
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
GAP AG – Actions leading to further business development
Oberhaching, April 22, 2004 – For reasons of legal security enabling the further
development of the company, the Managing and Supervisory boards of GAP AG für
GSM Applikationen und Produkte agreed to accept the in the company’s view
unfounded claims against resolutions made at the November 27, 2003 general
shareholders’ meeting. The acceptance decision was made based on the
consideration of the time required for a final legal decision – even with a
fast-track procedure a decision would not be expected before the middle of the
year. Such a delay would greatly impact the further development of the company.
Considering the further business development of GAP AG, the focus of the company
lies in its profitable business areas. In this context, GAP AG sells
significant parts of the telematics business effective as of April 15, 2004. As
part of the agreement, staff members belonging to as well as financial
obligations associated with this business area such as lease and binding bid
obligations will be transferred to the buyer. The South African subsidiary is
not part of the transaction and therefore remains in the GAP Group.
From now on GAP AG will fully concentrate on its profitable business areas. The
GAP AG business areas are the distribution of Siemens components which accounted
for a majority of the total return for the business year 2002/2003 and the area
of IBM/Lotus Notes applications of GEDYS IntraWare GmbH which had a preliminary
9-month result as at December 31, 2003 showing sales revenue of approximately
2.45 million Euro and a positive operative result of approximately 0.75 million
Euro.
GEDYS IntraWare GmbH was integrated into the GAP Group following adjustment of
intercompany liabilities. This results in an anticipated company profit of 2.13
million Euro for GEDYS IntraWare GmbH.
Contact:
GAP AG für GSM Applikationen und Produkte
Bajuwarenring 12a, D-82041 Oberhaching,
Tel.: +49-89-666695-0, e-mail: ir@gapag.de
end of ad-hoc-announcement (c)DGAP 22.04.2004
——————————————————————————–
WKN: 580150; ISIN: DE0005801500; Index:
Listed: Geregelter Markt in Frankfurt (General Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
221111 Apr 04
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden