IVU Traffic Technologies AG — AGM Information 2002

Jun 18, 2002

News Details

Ad-hoc | 18 June 2002 16:31

IVU Traffic Technologies english

IVU Traffic Technologies AG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Berlin, 18th June, 2002: At the Annual General Meeting IVU reports on financing concept +++Capital increase by 2.5 mil EURO equity capital and 3 mil EURO outside capital almost sure+++ The chairman of the Executive Board of IVU Traffic Technologies AG (WKN 744 850), Prof. Dr. Ernst Denert, could report to the stockholders’ meeting on 18th June, 2002 that the negotiations about financing the business activities have reached an advanced stage and that liquidity is almost sure. The core of the financing is an additional equity capital of 2.5 mil EURO jointly produced by Hans G. Kloß, a member of the Supervisory Board (0.5 mil EURO), by Prof. Denert (1.4 mil EURO), and by the IVU team itself. 90% of the personnel contribute 600,000 EURO, an average of a good 2,000 EURO per person. This kind of self-help is a sound reason for the Land Berlin to secure by an official bond the credit in the amount of 3 mil EURO of a consortium of banks led by the Deutsche Bank. In addition, the continued financing of a credit by the DZ bank amounting to 10 mil EURO is sure subject to approval of the bodies. The decisive factor for this was an agreement on being secured by TransTec and üstra, the Hanover transport operation companies. Üstra, already participating in IVU with 3.4%, considers an increase of their shares next year. Now, IVU can fully concentrate on their business which is intended to generate a turnover of 39 mil EURO and a slightly positive result (EBIT: 1.2 mil EURO, net income: 0,5 mil EURO) in the current year. Contact: IVU AG Investor Relations: Nicola Gehrt, Tel.:+49.30.85906.272, Fax.: +49.30.85906.111, eMail:ir@ivu.de end of ad-hoc-announcement (c)DGAP 18.06.2002 ——————————————————————————– WKN: 744850; ISIN: DE0007448508; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 181631 Jun 02