Tele Atlas N.V.
Tele Atlas N.V.: Tele Atlas converts loan into Ordinary Shares
Ad hoc announcement §15 WpHG
Loan conversion
Tele Atlas N.V.: Tele Atlas converts loan into Ordinary Shares
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Tele Atlas, a worldwide leading provider of digital map data and location
content today has entered into an agreement with shareholder International
Asset Management (IAM) to convert a contingent loan into ordinary shares. The
loan, which was created in connection with a legal restructuring of the Tele
Atlas Group in January 2000, was payable upon realization by Tele Atlas of
potential tax benefits resulting from the depreciation of certain assets
contributed by IAM in the restructuring. The total amount of the contingent
loan, assuming full realization of the tax benefits, was EUR33 million. The
EUR20 million amount for the loan carried on the Tele Atlas balance sheet
represented the amount expected to be payable to IAM during the ten year term
of the agreement. As of March 31, 2005, EUR2 million in benefits had been
realized by Tele Atlas and was currently payable under the loan agreement.
Pursuant to the conversion agreement, the loan will be valued at EUR17.5
million which is the fair value of the loan as determined by the company’s
board of directors. Tele Atlas will issue 1,466,768 ordinary shares in
connection with the conversion which was determined based on the April 18,
2005 closing price of the company’s shares on the Xetra exchange. Upon
conversion, all payment obligations under the loan (including for payment of
the currently payable amount of EUR 2 million) will cease to exist.
TELE ATLAS N.V.
Reitscheweg 7F
NL-5232 BX `s-Hertogenbosch
Netherlands
ISIN: NL0000233948
WKN: 927101
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
End of ad hoc announcement (c)DGAP 10.05.2005
100831 Mai 05
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