WaveLight AG
WaveLight AG: Deferred taxes carried forward for partially adjusting the value as at 30th April, 2008
WaveLight AG / Miscellaneous Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Ad hoc communication according to Para. 15 WpHG (German Law on Securities Trading) WaveLight AG: Deferred taxes carried forward for partially adjusting the value as at 30th April, 2008 Erlangen, 23th April, 2008. WaveLight AG, listed in the Prime Standard of Deutsche Börse AG (Company address: Wolfsmantel 5, 91058 Erlangen; ISIN: DE0005125603) today communicates the partially value adjustment of the balanced deferred taxes for accumulated deficits brought forward by WaveLight AG as at 30th April, 2008, as stated in the consolidated accounts of 31st July, 2007. The agreement published on the 7th April, 2008 between Nestlé S.A. and Novartis AG., forms the background for this value adjustment. It provides that Novartis should acquire 24.85% of the shares of the WaveLight majority shareholder Alcon Inc., as the first step. Between the 1st January, 2010 and the 31st July, 2011, the remaining stake of about 52% of the shares of Alcon, Inc. could be transferred. The Executive Committee of WaveLight AG has checked the recoverability of the deferred taxes on deficits carried forward, on the grounds of the probable takeover of Alcon by Novartis and the provisions of Section 8c of the German Law on Corporation on Tax and has decided as follows: that, as in the consolidated financial statement on 31st July, 2007, the balanced deferred taxes on accumulated deficit carried forward shall be partially value adjusted to a value of € 5.000 thousand on the planned useful level of € 8.258 thousand, against the background of a probable takeover of Alcon by Novartis. This will already be effected for in the nine-months-accounts of WaveLight AG on 30th April, 2008. End of the ad hoc communication 23.04.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: WaveLight AG Am Wolfsmantel 5 91058 Erlangen Deutschland Phone: +49 (0)9131 - 61 86-0 Fax: +49 (0)9131 - 61 86-111 E-mail: info@wavelight.com Internet: www.wavelight.com ISIN: DE0005125603 WKN: 512560 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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