phenomedia AG
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Phenomedia AG: Continuation of Business Activities
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Continuation of Business Activities
Following Phenomedia AG’s application for insolvency proceedings at the
district court of Bochum on 14 May 2002, Dr. Jur. Wulf-Gerd Joneleit from
Bochum was appointed temporary insolvency administrator. The aim of the
insolvency proceedings established in early constructive talks with Phenomedia
AG’s managing board is to enable the company to continue its business.
Furthermore, the managing board is continuing to negotiate with a number of
potential investors to quicken the progress of the company’s recapitalisation.
In the course of the restructuring required in order to concentrate on core
competences, the number of Phenomedia AG’s staff was cut within the legal
periods of notice from around 90 employees by about 40, including trainee
staff. This staff reduction affects the administrative sections of the company
as well as those areas of the developing department not directly involved in
the creation and visualisation of characters and concepts. The core team of
creative staff necessary to the continuation of the company remains. Thus, the
company will be able to continue its development of licensable characters.
end of ad-hoc-announcement (c)DGAP 23.05.2002
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WKN: 541490; ISIN: DE0005414908; Index:
Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, München, Hannover und Stuttgart
231204 Mai 02
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