AI assistant
Coreo AG — Delisting Announcement 2015
Jun 26, 2015
5376_rns_2015-06-26_6e3ed0ff-5684-49e7-89d6-bdbd476ffa5e.html
Delisting Announcement
Open in viewerOpens in your device viewer
News Details
Corporate | 26 June 2015 16:00
Extensive write-downs have a negative effect on the annual result of the financial year 2014 / Further need to write down and retirement from the stock exchange are being analysed.
Nanostart AG / Key word(s): Final Results
26.06.2015 16:00
Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.
Nanostart AG: Extensive write-downs have a negative effect on the annual
result of the financial year 2014 / Further need to write down and
retirement from the stock exchange are being analysed.
Frankfurt / Main - June 26, 2015 - Nanostart AG is today publishing its
annual financial statements for the financial year 2014. The financial year
2014 is concluded with a loss of EUR 8.88 million. Results were
considerably impacted by value adjustments totalling EUR 8.40 million. The
value adjustments refer to write-downs at ItN Nanovation AG, at Namos GmbH
and in part to value adjustments at New Asia Investments Pte. Ltd., which
was necessary due to the write-down of BioMers Pte. Ltd., as well as the
loans to the subsidiary, VentureTech Equity-Partners GmbH.
For other operating expenses, there was an increase during the reporting
period to EUR 1.28 million as compared to EUR 0.97 million in the previous
year. Thanks to comprehensive restructuring activities, staff costs were
reduced from EUR 0.55 million in the financial year 2013 to EUR 0.24
million in the financial year 2014. The total assets decreased from EUR
34.35 in the previous year to EUR 25.39 million as of 31 December 2014.
Financial investments were reduced by about EUR 8.12 million, from EUR
17.69 million in the year 2013 to EUR 9.57 million at 31 December 2014. The
aforementioned value adjustments were primarily responsible for this
reduction. The company's equity decreased in the reporting period to EUR
24.96 million compared with EUR 33.84 million in the previous year due to
the 2014 net loss.
The corporate equity ratio at 31 December 2014 was about 98.4 percent.
Nanostart's short-term liquidity reserves in the form of securities and
cash was about EUR 5 million at 31 December 2014 with a balance sheet total
of EUR 25.39 million. The book value for all investment portfolio was EUR
6.94 million at year-end.
Nanostart AG is currently undergoing a radical change. The Board of
Directors and Supervisory Board have decided to concentrate on the existing
share portfolio and, in the future, regionally on Germany and Europe. Thus
all foreign strategic activities and shareholdings will be subject to
examination or stopped. The decision is due to changed market conditions,
such as devaluation of the euro compared to the Chinese currency, which
causes a continuing increase in funding obligations. Depending on the
business development and the amount of financial obligations, additional
possible write-downs, among other things at ItN Nanovation AG and with
regard to the activities in Asia, can be expected. As a part of the ongoing
cost-cutting measures the need for a stock market listing will be
critically scrutinized.
The financial statements are now available for download on the company's
website in the Investor Relations area at www.nanostart.de.
About Nanostart AG
Nanostart is an investment company with the focus on nanotechnology.
Nanostart invests in young and promising nanotechnology-based companies.
Nanostart invests globally and at different phases of development. When
talking about investments, the company focusses on business lines like
cleantech, life sciences or IT/electronics. Nanostart AG has its
headquarters in Frankfurt am Main.
Disclaimer
This notice constitutes neither an offer to sell nor a solicitation of
offers to purchase or subscribe to securities. There will be no public
offering of securities of Nanostart AG in conjunction with the existing
listing of its shares in the "Entry Standard" segment of the regulated
unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This
notice does not constitute a securities prospectus. Neither this notice nor
the information contained within is intended for direct or indirect
distribution within Canada, Australia, or Japan.
Media contact:
Phone: +49 (0)69 219396 0
Telefax: +49 (0)69 219396 150
E-Mail: [email protected]
26.06.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: Nanostart AG
Roßmarkt 14
60311 Frankfurt am Main
Germany
Phone: +49 69 2193 96-0
Fax: +49 69 2193 96-150
E-mail: [email protected]
Internet: www.nanostart.de
ISIN: DE000A0B9VV6
WKN: A0B9VV
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of Announcement DGAP News-Service