Kabel New Media AG
Kabel New Media AG english
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Temporary cessation of payments at Kabel New Media AG
In response to the increasingly difficult market environment, Kabel New Media AG
has introduced a fundamental restructuring of the production and sales
processes. This will enable it to react more quickly and flexibly to the changed
market demands. The objective of the restructuring was to create a cost-
efficient and profitably functioning enterprise, which is able to serve its key
clients, as the market leader in Germany. Parallel to this, the firm’s directors
carried out discussions with potential investors, seeking the necessary
commitment to secure additional financial requirements. Last night, a key
potential investor broke off negotiations. Directors of Kabel New Media AG
intensively debated the business and financial situation of Kabel New Media AG
and Group, following the end of these negotiations. Today, as a precautionary
measure, they authorised a cessation of payments throughout the whole Kabel New
Media Group. This will take effect immediately.
The board of directors is currently engaged in a process of analysis of the
situation, and is investigating the next steps. The objective is to maintain the
positive core business. Alongside this process, ongoing discussions with
potential financiers and other investors will be pursued.
end of ad hoc announcement (c) DGAP 28.06.2001
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WKN: 622950; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
290016 Jun 01
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