PROCON MultiMedia AG
Amortization of a shareholding
PROCON MultiMedia AG / Key word(s): Miscellaneous 20.06.2012 11:02 Dissemination 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. --------------------------------------------------------------------------- The Board of Directors of PROCON MultiMedia Aktiengesellschaft, Hamburg, ('Com-pany') has reviewed the valuation of the shareholdings when setting up the Company's annual statement of accounts as of December 31, 2011 and it adjusted the value of its 100% shareholding in Production Resource Group, S.A. Belgium ('PRG Belgium'). PRG Belgium passes a significant restructuring and downsizing and will according to expectations of the Board of Directors make in future no significant contribution to earnings. The Board therefore has amortized the shareholding, which was valued with EUR 17,272,903.80 after a capital increase in 2011 in the 2011 interim financial statements of the company (the company's financial statements according to HGB) and the preliminary financial results for the first quarter of 2012, by EUR 13,705,378.57 to EUR 3,567,525.23. As to the group accounts (IFRS), the complete value correction of PRG Belgium, which was previously recorded in the accounts in an amount of EUR 6,112,474.77 effects a reduction of the value of the business and goodwill by EUR 6,112,474.77 to EUR 0.00. This extraordinary effect will not affect the sales and profit planning of the company for the current fiscal year 2012. The adjustment is not liquidity-related, but influences the results of the Company and the group in full. For fiscal year 2011, this results in a further reduction of the net income of minus EUR 11.7 million to date to minus EUR 25.4 million, compared to plus EUR 2.3 million in 2010. Board of Directors 20.06.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: PROCON MultiMedia AG Bredowstr. 34 22113 Hamburg Germany Phone: 040/670 886-0 Fax: 040/670 61 59 E-mail: info@procon-online.de Internet: www.procon-online.de ISIN: DE0005122006 WKN: 512200 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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