11 88 0 Solutions AG — M&A Activity 2004

Sep 30, 2004

News Details

Ad-hoc | 30 September 2004 19:24

telegate announces sale of UK-subsidiary 11 88 66 Ltd

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– telegate announces sale of UK-subsidiary 11 88 66 Ltd telegate AG announces the sale of its wholly-owned British subsidiary 11 88 66 Ltd to the UK-based Croftacre Holdings Ltd. Under the terms of the agreement, which will complete with effect from 1st October, telegate’s Scottish call centre and employement contracts of all staff located there will be continued by 11 88 66 Ltd.’s new shareholder. telegate AG is withdrawing from the British directory enquiries market in order to focus resources on the growing opportunities presented by the forthcoming liberalisation of directory assistance services in other European markets. Following this transaction and given the very positive course of business during the year so far, telegate raises its EBITDA-guidance for 2004 from currently minimum EUR 25.0 million to now minimum EUR 29.0 million and confirms its clear strategic commitment to profitable growth for the Group. The telegate AG Board will inform interested parties in a conference call to be held tomorrow, Friday 1st October 2004 at 10:00 (CET) / 09:00 (GMT). Further Information: telegate AG Claudia Strixner Fraunhofer Str. 12a – 82152 München-Martinsried Tel.: +49 (0) 89/ 8954-1188 – Fax: +49 (0) 89/ 8954-1189 e-mail: claudia.strixner@telegate.com end of ad-hoc-announcement (c)DGAP 30.09.2004 ——————————————————————————– WKN: 511880; ISIN: DE0005118806; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 301924 Sep 04