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M&A Activity • Jul 30, 2002

News Details

Ad-hoc | 30 July 2002 17:47

BOV AG english

BOV AG continues with consolidation process Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– BOV AG continues with consolidation process Sale of Intermoves AG / BFK GmbH Pending approval from the supervisory board, BOV has sold its 75.5 percent share of Intermoves AG and 73 percent stake in B.F.K. Gesellschaft für angewandte Wirtschaftsinformatik GmbH, both of Paderborn, as part of a management buyout. The management board has thus stuck closely to the strategy it had announced of concentrating on the profitable core business areas and cutting costs. The move became necessary when all the indicators and the latest developments suggest that further investment into the division of Intermoves AG/B.F.K. GmbH would have been necessary, and this was not in line with the plan. The sell-off of shares will definitely delay the forthcoming adjustment of the company value to the tune of Euro 2.3 million. The sale does not affect the EBITDA which has already been announced. The forecasts for overall performance are reduced by the planned turnover from Intermoves AG/B.F.K.GmbH, i.e. Euro 2.5 million in the second half of the year. BOV AG is therefore predicting an overall performance of Euro 21.5 to 23 million for the year 2002. BOV AG will secure the software development financed to date by means of appropriate license agreements. end of ad-hoc-announcement (c)DGAP 30.07.2002 ——————————————————————————– WKN: 549 370; ISIN: DE0005493704; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München , Stuttgart, Hannover 301747 Jul 02