BIODATA Information Technology AG
Biodata Inform. Tech. english
Debt Write-Off With Insolvency Plan
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Debt Write-Off With Insolvency Plan
Reduction of the company’s capital for financial investor.
Lichtenfels, 13 December 2001. Biodata Information Technology AG today announced
it plans to transfer its operative business to a 100 percent subsidiary
company. In this scenario, the parent company will rid its property of debts
with an insolvency plan and an additional financial investor.
According to Dr. Fritz Westhelle, the preliminary insolvency administrator,
recapitalization of Biodata AG necessitates regular insolvency proceedings.
Furthermore, the IT security company requires the help of a financial investor
for a successful insolvency plan. Additional requirements are a reduction prior
to an increase of the company’s capital. This puts an investor into the position
to obtain the majority of shares of a debt-free company.
Westhelle said he needed to act fast in order to keep important employees with
the company and to continue operative business. In line with the Supervisory
Board and the Board of Directors he affirmed plans to transfer parts of the
operative business to a subsidiary company within the next days. This company
will be based in Dresden and focus on encryption products.
There are MBO negotiations concerning the Biodata affiliate in Nuremberg,
whereas the subsidiary companies in Offenbach and Munich filed insolvency
applications. According to the preliminary insolvency administrator, Biodata
Lichtenfels will not be the group’s Head Office in the near future. Biodata’s
former core technology for network and communications security will be
transferred to a corporation based in Frankenberg-Schreufa.
Consequently, Biodata AG will be restructured into a management company holding
investments in the new Dresden based subsidiary (100 percent), Cobion AG (circa
36 percent) and BioID AG (16,2 percent).
end of ad-hoc-announcement (c)DGAP 13.12.2001
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Due to over-indebtedness and imminent illiquidity Biodata Information Technology
initiated insolvency proceedings at the local court in charge (Korbach,
Germany) on 20 November 2001. An external auditor’s report determined value
adjustment of more than 40 million Euro, the companies liabilities amounting to
almost 20 million Euro. A possible investor can also benefit from the company’s
loss carried forward.
The subsidiary in Dresden and several employees in Berlin entered the Biodata
group after acquisition of all licences, technologies, R&D documents and the
logistics center of the former Dica AG. The company had applied for insolvency
in spring 2001. In Dresden and Berlin there are eleven employees with a level of
orders on hand sustaining next year’s business. The sales target for the new
subsidiary company totals circa 3 million Euro for 2002.
The subsidiary in Nuremberg includes 15 employees, and the Frankenberg-Schreufa
based corporation totally independent of the group will hold 25 to 30 employees
developing and selling Biodata products. Negotiations will be held within the
next days.
Contact:
Heiko Scholz (Public Relations), Biodata Information Technology AG, Burg
Lichtenfels, 35104 Lichtenfels, Tel. +49 (0) 6454 / 9120-118, Fax +49 (0) 6454 /
9120-180, E-Mail: heiko.scholz@biodata.de
Jörg Kleine (Investor Relations), Biodata Information Technology AG, Burg
Lichtenfels, 35104 Lichtenfels, Tel. +49 (0) 6454 / 9120-132, Fax +49 (0) 6454 /
9120-180, E-Mail: joerg.kleine@biodata.de
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WKN: 542270; ISIN: DE0005422703; Index: NEMAX 50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
131122 Dez 01
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