TelesensKSCL AG
TelesensKSCL AG english
TelesensKSCL secures liquidity.
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Ad hoc announcement: TelesensKSCL (DE0005299705) TelesensKSCL secures liquidity.
Cologne, 22 October 2001 – TelesensKSCL today announces that negotiations with
investors and creditors concluded successfully and as a result TelesensKSCL has
secured the liquidity required to move forward with confidence until the
business is projected to be operating cash generative.
The outcome of these negotiations is that the company will receive 15 million
euros of additional cash. This includes the final instalment of the financing
package announced in June, the disposal of a substantial part of TelesensKSCL’s
interest in the non-core investment in Berlin-based nexnet and a shareholder
loan. Furthermore, the arrangement with creditors involves the restructuring of
debts and the renewal of existing bank facilities, with a total volume of about
30 million euros.
With this financing package TelesensKSCL will proceed with the implementation
of its extended restructuring plan. Details of that plan will be communicated
in due course.
Ernst & Young acted as advisors on the financial restructuring.
Investor Relations: Nina von Moltke
E-mail: investor@telesenskscl.com
Internet: http://www.TelesensKSCL.com
TelesensKSCL AG, Global Solutions
Ferdinand-Porsche-Strasse 1, 51149 Cologne
Tel.: +49 2203 91 28 888, Fax.: +49 2203 91 28 500
end of ad-hoc-announcement (c)DGAP 22.10.2001
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WKN: 529970; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
221744 Okt 01
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