eJay AG
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eJay: Insolvency procedures initiated/ Business operations continue unchanged
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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eJay: Insolvency procedures initiated/ Business operations continue unchanged
Stuttgart, 1st February 2002. Today, the responsible local court in Stuttgart
has initiated insolvency proceedings over the capital of eJay AG. Dr. Tibor
Braun (Illig, Braun, Kirschnek solicitors) has been appointed insolvency
administrator. eJay AG’s business operations will continue unchanged following
the initiation of proceedings.
Meanwhile, the number of potential investors has been narrowed down to viable
companies and initial offers are with the insolvency practitioner. At present it
is not possible to say whether an insolvency plan or an asset deal will be
implemented. In the case of an asset deal, only unencumbered material and
immaterial assets would be alienated. A decision is set to be reached in
February.
Head of Sales and Marketing at eJay Rainer Zipp has chosen to step down from the
Board of Management with effect from 31st January 2002 in order to concentrate
on new tasks. CEO Helmut Schmitz is taking over his tasks.
For further information please contact
Michael Kränzle
Senior Public Relations Manager
Rotebühlstraße 87
D-70178 Stuttgart
Tel: +49 711-62031-150, Telefax: +49 711-62031-001
E-Mail: Michael.Kraenzle@eJay.de
Public Relations Online: http://www.eJay-AG.de
end of ad-hoc-announcement (c)DGAP 01.02.2002
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WKN: 549 570; ISIN: DE0005495709; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
011344 Feb 02
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