Grenke AG — Delisting Announcement 2003

Feb 6, 2003

News Details

Ad-hoc | 6 February 2003 11:20

Grenke Leasing AG english

GRENKELEASING AG reports disposal of Mauden Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Baden-Baden, February 6, 2003: GRENKELEASING disposes of Mauden SpA Within the scope of a management buyout, GRENKELEASING AG has sold its stake in Mauden SpA, Milan, to the family of Mauden’s chairman. The disposal is not expected to have an impact on the consolidated accounts of the GRENKELEASING Group for the year ending December 31, 2002. A slight improvement in GRENKELEASING Group earnings of around EUR 70,000 per annum is anticipated over the next eight years in the resulting absence of goodwill amortisation. The company will publish its annual accounts for 2002 on March 6, 2003. The Executive Board If you have any queries, please contact: GRENKELEASING AG, Neuer Markt 2, 76532 Baden-Baden Renate Hauss Tel: 07221/5007-204 Fax: 07221/5007-112 E-mail: investor@grenkeleasing.de Internet: http://www.grenkeleasing.de end of ad-hoc-announcement (c)DGAP 06.02.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: GRENKELEASING AG acquired a 100 percent interest in Mauden SpA in February 2001. Mauden was then restructured within the course of 2002. Its leasing business was hived off and transferred to GRENKE Locazione S.r.l., Milan, a GRENKELEASING Group company. This narrowed Mauden’s business activities to IT technology brokerage – focusing particularly on large IT systems. “The remaining scope of such business is scarcely compatible with our leasing and rental business. Nor was a justifiable contribution to earnings achieved. A disposal was the logical conclusion”, is the comment Wolfgang Grenke, Chairman of the Executive Board of GRENKELEASING AG, gave on the divestment. GRENKE Locazione has built up its sales business according to plan, introduced the successful GRENKE business model to the Italian market, and currently provides support to 200 dealers with a main focus on northern Italy. GRENKELEASING presently maintains 19 domestic branch offices. Its successful foreign operations are to be further expanded. GRENKELEASING presently has 11 foreign business locations. In addition to its four French branch offices, it has one subsidiary each in Switzerland, Austria, Italy, the Czech Republic, Spain, the Netherlands, and Denmark. GRENKELEASING AG is Germany’s nationwide market leader in small-ticket IT leasing, i.e. for products such as PC’s, notebooks, copiers, printers, or software up to an acquisition value of EUR 25,000. The company has been listed on the stock exchange since 2000. GRENKELEASING AG was admitted to the new Prime Standard segment of the Frankfurt Stock Exchange on January 1, 2003, having already previously fulfilled its stringent requirements. Information on the company and its products is available on the Internet under http://www.grenkeleasing.de. ——————————————————————————– WKN: 586590; ISIN: DE0005865901; Index: Listed: Geregelter Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 061120 Feb 03