farmatic biotech energy ag
farmatic biot. energy ag english
Notice pursuant to §92 Para. 1 AktG required
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
In the process of preparing the 2002 annual financial statements for farmatic
biotech energy ag, a detailed examination of the company’s equity interests and
valuations has in recent days led to further writedowns and adjustments. Losses
have resulted from the revaluation of loans granted on the one hand to an
investment company and on the other to a (biogas) plant operating company. In
addition, in the first few months of the current year some new orders have been
deferred and planned revenues have consequently not been realized.
Given the current status of the annual financial statements and present
developments, the Executive Board of farmatic biotech energy ag is duty bound to
anticipate that at least one half of the current equity capital has been eroded
by these losses. In accordance with § 92, Para. 1 of the German Stock
Corporation Act [AktG], the Executive Board therefore intends to immediately
convene a general meeting at which the loss will be notified.
The comprehensive restructuring of farmatic initiated by the newly appointed
Board at the end of 2002 will continue. An important element of this program is
the introduction of fresh capital. A recently developed finance plan, which
includes both an increase in existing credit lines as well as the provision of
new equity capital is already in an advanced stage of implementation and is due
to be completed in the immediate future.
Contact: Karen von der Brelie, Corporate Communications
farmatic biotech energy ag, Kolberger Strasse 13, D-24589 Nortorf
Tel.: +49 (4392) 9177-200, Fax: -197
brelie@farmatic.com, www.farmatic.com
end of ad-hoc-announcement (c)DGAP 28.05.2003
——————————————————————————–
WKN: 605192 ; ISIN: DE0006051923; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
282050 Mai 03
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found