artnet AG — Capital/Financing Update 2001

Jun 5, 2001

News Details

Ad-hoc | 5 June 2001 20:21

artnet.com AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– ARTNET.COM AG STRENGTHENS CASH POSITION IN SUCCESSFUL FUNDING ROUND Frankfurt/New York, 5 June 2001 – artnet.com AG has increased its capital by 450,000 Euros. The London Investment fund ODEY EUROPEAN INC. has acquired 150,000 shares at a price of 3 Euros. This adds a new institutional investor to the artnet.com AG shareholder base. Crispin Odey, founder of ODEY ASSET MANAGEMENT, London and manager of ODEY EUROPEAN INC., is an art collector with detailed knowledge of the art market. artnet.com AG is the leading provider of information services to the art market worldwide. The company is no longer burning cash and is systematically building out its dominant position in the art market. ODEY ASSET MANAGEMENT has several investment funds under management with a total volume of 600 million Dollars. ODEY EUROPEAN INC., the most important hedge fund of the group, showed a performance in excess of 20% last year. Performance during the last five years averaged 30% p.a. Contact: Hans Neuendorf, CEO Hneuendorf@artnet.com Tel.: 001-212-497 9700×638 Fax: 001-212-497 9707 end of ad hoc announcement (c) DGAP 05.06.2001 ——————————————————————————– WKN: 690950; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 052021 Jun 01