IVU Traffic Technologies AG — Capital/Financing Update 2002

Jul 25, 2002

News Details

Ad-hoc | 25 July 2002 18:26

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. ——————————————————————————– Financing of IVU secure+++Borrowed funds of 13 mil Euro agreed on+++More than half of all shares of new investors and founders bundled in pool Berlin, 25th July, 2002: IVU Traffic Technologies AG, Berlin (WKN 744 850) has managed to ensure the financing of altogether 15,5 mil Euro. This guarantees the liquidity required for business activities. First, the continued financing of a bank loan amounting to 10 mil Euro was agreed on in a contract with the DZ bank, with a period up to the end of 2007 and being secured by TransTec and üstra, the Hanover transport operation companies. In addition, the Deutsche Bank and the Deutsche Kreditbank firmly promised a loan in the amount of 3 mil Euro. The five former members of the executive board offer a guarantee for this, and the Land Berlin has benevolently held out the prospect of a security. The core of the financing is an equity injection of 2.5 mil Euro jointly produced by the chairman of the executive board, Prof. Dr. Ernst Denert (1.4 mil Euro), by a member of the supervisory board (0.5 mil Euro), and by the IVU team. 90% of the personnel contribute 600,000 Euro, an average of a good 2,000 Euro per person. These capital measures are mutually dependent. Now that all capital contributors have given their firm commitments, the security of the Land Berlin is the keystone which will finally be decided on in the second half of August. The 2.5 mil Euro will be injected into IVU by capital increase. The subscription price of the new shares is 1 Euro, although the current price is lower. The capital stock will thus be increased from 13.7 mil Euro up to 16.2 mil Euro. It might even be more if also external IVU shareholders join in. This is possible thanks to an increase of cash capital amounting to 1.64 mil Euro, which was decided on at the Annual General Meeting on 18th June, 2002 including options, term of subscription until 30th September, 2002, and a rate of issue of 1 Euro. The two investors and the six founders of IVU have bundled most of their shares (a good 50% of the capital stock) in a pool. A voting commitment is not intended. Contact: Annette Weisser, Tel.: +49.30.85906.244, Fax.: +49.30.85906.111, eMail:ir@ivu.de end of ad-hoc-announcement (c)DGAP 25.07.2002 ——————————————————————————– WKN: 744850; ISIN: DE0007448508; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 251826 Jul 02