Bluehill ID AG
BLUEHILL ID DEMANDS SPECIAL AUDIT DUE TO REVIEW PRIMION TECHNOLOGY AG MISSING EARNINGS FORECAST
Bluehill ID AG / Legal Matter/Statement Announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- BLUEHILL ID DEMANDS SPECIAL AUDIT DUE TO REVIEW PRIMION TECHNOLOGY AG MISSING EARNINGS FORECAST - Operating earnings miss expectations by more than 70 percent according to ad-hoc release issued on 6 November 2008 - Primion management board confirmed earnings forecast in Q3 report on 19 August 2008 St. Gallen, 10 November 2008 – Bluehill ID AG (Symbol BUQ.F/BUQ.de, www.bluehill-id.com), has made use of its right as a shareholder in the Prime Standard listed company Primion Technology AG to call for an Extraordinary General Meeting according to section 122, paragraph 1, Stock Corporation Act (AktG). This motion is based on the announcement of the preliminary figures of Primion Technology AG for the financial year 2007/2008 in the ad-hoc release from 6 November 2008, reporting earnings (EBIT) at around EUR 1 million which is considerably lower than the forecast communicated by the management board. In its relatively recent interim report on the third quarter from 19 August 2008, the management board confirmed earnings targets above the previous year’s EBIT of EUR 3.4 million. The joint statement by the management board and the supervisory board of Primion Technology AG on the current takeover bid by Azkoyen Group from 31 October 2008 – six days before the ad-hoc release was issued – made no mention of earnings being missed significantly. Bluehill ID AG believes that surprisingly missing earnings forecasts again show the already stated lack of transparency in the way Primion Technology AG is managed. The exact wording of the letter to the management board of Primion Technology AG including the demand to call an Extraordinary General Meeting will be available on the Bluehill website shortly. About Bluehill ID AG Bluehill ID AG is an international operating company with headquarters in Switzerland and listed on the Frankfurt Stock Exchange (ISIN CH0031958629; Symbol BUQ). Bluehill ID is dedicated to the responsible use and development of RFID and other automatic identification technologies. These technologies are used in the fields of security, identification, tracking and further growing applications. The business model of the company is based on combining disciplined acquisitive growth with sustainable organic growth from portfolio companies. Contact Fabian Kirchmann IR.on AG Tel: +49 172 24 699 54 fabian.kirchmann@ir-on.com 10.11.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Bluehill ID AG Dufourstr. 121 CH-9001 St. Gallen Schweiz Phone: +41 44 783 8043 Fax: +41 44 783 8040 E-mail: contact@bluehill-id.com Internet: www.bluehill-id.com ISIN: CH0031958629, CH0038439490 WKN: A0MUR7 Listed: Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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