IXOS Software AG
IXOS Software AG english
IXOS acted properly
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IXOS acted properly
Board of Admissions drops proceedings – company vindicated as expected
Munich/Grasbrunn, June 3, 2003 – The Board of Admissions of the Frankfurt Stock
Exchange has confirmed that IXOS SOFTWARE AG (NASDAQ: “XOSY”, TecDAX: “XOS”)
acted in compliance with Stock Exchange rules. In a letter to the Executive
Board of IXOS dated May 26, the Board of Admissions states that there is no
evidence of negligent or sanctionable conduct by the Group in relation to the
need to restate the consolidated financial statements for 2001/2002 and the
figures for H1 2002/2003.
IXOS had discovered irregularities in its Belgian sales region that were due to
the misconduct of a single employee, who had forged a total of six customer
orders. Since IXOS is committed to observing particularly strict standards of
corporate governance and transparency, the Company made this public on May 6,
2003 and resolved to voluntarily restate its consolidated financial statements.
This was followed by a formal request for information in accordance with section
41 (1) of the Börsengesetz (German Stock Exchange Act). Following the
publication of its decision, Deutsche Börse now regards the matter as closed.
CEO Robert Hoog announced: “The decision by the Board of Admissions confirms
that our conduct was correct. We see this as vindicating our actions.” At the
same time, Hoog underlined that IXOS has already introduced more stringent
control mechanisms in order to prevent any malpractice of this kind on the part
of individuals in future.
Even before the decision by the Board of Admissions of the Frankfurt Stock
Exchange, the Schutzgemeinschaft der Kleinaktionäre (SdK – Association for the
Protection of Small Shareholders) emphasized that this case of fraud at IXOS
poses no threat to its trust in the company as a whole or the TecDAX selection
index.
About IXOS:
IXOS SOFTWARE is a leading provider of Enterprise Content Management (ECM).
IXOS solutions perform essential enterprise functions such as the efficient
staging of information for Web delivery, the optimization of business processes,
and the permanent archiving of business documents in a secure, reliable
document base. A global team of highly qualified consultants and global 7×24
hour support round out the wide range of available IXOS solutions. IXOS
partnerships with leading international hardware and software vendors, as well
as system integrators, guarantee the deployment of innovative technology and
comprehensive industry expertise.
Its financial stability makes IXOS a stable, long-term partner. Major
corporations from a wide variety of industries have already installed over 3,200
IXOS installations worldwide – enabling them to reduce their costs and
simultaneously enhance their productivity and competitiveness. More than 1,8
million users around the world already work with ECM solutions from IXOS.
Shares of IXOS SOFTWARE AG are traded under the symbol “XOS” in the TecDAX 30 of
the Frankfurt Stock Exchange (SID 506150; ISIN: DE0005061501). In the U.S.,
American Depository Shares (ADS) are traded on NADSAQ under the symbol “XOSY”.
Contact: IXOS Investor Relations Hotline ++49/89/4629-2400
This release can also be found on the Internet under:
http://www.ixos.com/en/press.
end of message, (c)DGAP 03.06.2003
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WKN: 506150; ISIN: DE0005061501; Index: TecDAX, NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
031000 Jun 03
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