Gontard & MetallBank AG i.I.
Gontard & Metallbank AG english

Gontard & MetallBank AG sees additional provisioning requirements Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Gontard & MetallBank AG sees additional provisioning requirements Frankfurt/Main, 19 April 2002 – As a result of the continued market decline, and also due to insolvency proceedings affecting securities pledged to collateralise loans, Gontard & MetallBank AG (ISIN DE0005890503) has determined additional provisioning requirements amounting to approx. EUR 25 million (according to IAS). The bank’s issued share capital amounts to EUR 49.3 million, with reserves of EUR 4.8 million. These will burden the results of the second quarter of the business year. The liquidity of Gontard & MetallBank AG remains sound; in addition, the bank enjoys a favourable structure of deposits taken (currently around EUR 850 million). In close cooperation with regulatory authorities, the Board of Managing Directors will consolidate the bank’s lending business, and will reduce the level of assets exposed to risk. Loans and advances to customers which, at the balance sheet date (30 Sep 2001) had amounted to EUR 690 million, have already been reduced to a current level of approx. EUR 500 million; it is planned to reduce them by a further ten per cent, to below EUR 450 million. Furthermore, additional measures are planned to improve the quality of the loan portfolio. Gontard & MetallBank AG reaffirms its commitment to strengthen its equity capital, and to stabilise earnings. The resolutions passed by the Annual General Meeting held on 15 February 2002, and corresponding changes to the company’s Memorandum and Articles of Association have been entered into the Commercial Register at the responsible District Court. Based on the corresponding resolution, Gontard & MetallBank can now use authorised capital to a maximum amount of EUR 24.6 million. Therefore, the bank currently holds discussions with investors who have expressed an interest to acquire a majority holding. The results of the second quarter of the business year 2001/2002 (1 Jan – 31 March 2002) will be published on schedule, on 6 May 2002. Contact: Gontard & MetallBank AG – Investor Relations – Patrick Kiss Phone:+49(69)71908-206 – E-mail:info@gmag.de – http://www.Gontard-MetallBank.de end of ad-hoc-announcement (c)DGAP 19.04.2002 ——————————————————————————– WKN: 589050; ISIN: DE0005890503; Index: SDax Listed: Amtlicher Handel in Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München und Stuttgart. 192030 Apr 02