Gontard & MetallBank AG i.I.
Gontard & Metallbank AG english

Add. provisioning requirements trigger notice pursuant to section 92 (1) AktG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– – Additional provisioning requirements trigger notice pursuant to section 92 (1) of the German Stock Corporation Act – Detailed concept for restructuring and strategic realignment in preparation Frankfurt/Main, 3 May 2002 – In an ad-hoc disclosure published on 19 April 2002, Frankfurt-based Gontard & MetallBank AG (WKN 589 050 / ISIN DE0005890503) had announced additional provisioning requirements of approximately EUR 25 million. As a result of subsequent, additional price diminutions affecting the securities pledged to collateralise loans, losses have exceeded 50% of the issued share capital of Gontard & MetallBank AG. Pursuant to section 92 (1) of the German Stock Corporation Act (Aktiengesetz), the Board of Managing Directors will therefore convene a General Meeting of Shareholders in June 2002. The invitation to the Meeting will be published as soon as the agenda has been determined. To accurately reflect the company’s financial situation, the results for the quarter ended on 31 March 2002 have been adjusted to include the additional impairment of collateral, as well as the diminution in the value of certain securities during April. On this basis, the result before taxes (according to IAS) for the first two quarters of the business year 2001/2002 (1 October 2000 to 31 March 2002) was a loss of EUR 44.8 million (including EUR 39.7 million in loan loss provisions), compared to a EUR 0.6 million profit for the same period of the previous business year. The operative result was a loss of EUR 9.2 million (1st half of 2000/2001: EUR 2.1 million profit). The Board of Managing Directors will submit a detailed concept for the restructuring and strategic realignment of the bank during the Extraordinary General Meeting to be convened. Contact: Gontard & MetallBank AG – Investor Relations – Patrick Kiss – Phone: +49 (69) 71908-206 – E-mail: info@gmag.de – http://www.Gontard-MetallBank.com end of ad-hoc-announcement (c)DGAP 03.05.2002 ——————————————————————————– WKN: 589050; ISIN: DE0005890503; Index: SDax Listed: Amtlicher Handel in Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München und Stuttgart. 032038 Mai 02