DCI AG

Legal Proceedings Report • Dec 13, 2002

News Details

Ad-hoc | 13 December 2002 17:37

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MuK. Medien- und Kommunikationsgesellschaft mbH Declares Insolvency Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Starnberg, 12 December 2002. On 11 December 2002, MuK. Medien- und Kommunikationsgesellschaft mbH (MuK) filed a petition for insolvency at the district court of Berlin-Charlottenburg due to an inability to pay its debts. The company has gone into temporary receivership effective as of today. Despite its ongoing restructuring program, MuK was unable to adapt its expenses in time to offset its losses in sales revenue. Toward the end, MuK’s financial situation was further burdened by payment delays from one of its key accounts. DCI AG has had a majority interest in MuK since June 2001. MuK does not belong to DCI AG’s core business. After examining its business and financial status, DCI AG decided not to lend any more financial support to the deficit subsidiary, thereby safeguarding liquidity for its own turn-around process. DCI AG’s original goal of reaching break-even in its EBITDA on a monthly basis during fiscal 2002 has thus been shifted to the first half of 2003. The company has a sufficient volume of liquid assets to ensure its further existence. end of ad-hoc-announcement (c)DGAP 13.12.2002 ——————————————————————————– WKN: 529 530; ISIN: DE0005295307; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 131737 Dez 02