Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG — M&A Activity 2002

Aug 2, 2002

News Details

Ad-hoc | 2 August 2002 17:10

Ludwig Beck am Rathauseck english

Ludwig Beck to close down ludwigbeck-online GmbH Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– LUDWIG BECK to close down ludwigbeck-online GmbH Munich, 2 August 2002 – Ludwig Beck am Rathauseck – Textilhaus Feldmeier AG, Munich (WKN 519 990) intends to concentrate more intensively on its core business in future and focus its attention on expanding over-the-counter business operations. Therefore, as result of the development to date, the company will be closing down its subsidiary, ludwigbeck-online GmbH, with effect from 30 September 2002. In this respect the Shareholders’ Meeting of ludwigbeck-online GmbH has resolved to wind up the company. The initially pleasing growth of the on-line subsidiary during the early part of this year has decelerated considerably in the course of recent months, and the sales figure of EUR 0.186 (0.76) million against the background of a loss totalling EUR 0.1 million as at 30 June 2002 is well below the budgeted performance. All in all, ludwigbeck-online would need considerably longer than anticipated in order to achieve positive returns on a sustained basis. ludwigbeck-online GmbH was founded on 27 July 2000, and operates an Internet shop as well as mail-order activities in the areas of classical music and jazz. Contact: Lothar Fiss, Investor Relations Tel. +49(0)89 23691-663, Fax +49(0)89 23691-600 end of ad-hoc-announcement (c)DGAP 02.08.2002 ——————————————————————————– WKN: 519990; ISIN: DE0005199905; Index: SDax Listed: Amtlicher Markt in Frankfurt (SMAX) und München; Freiverkehr in Berlin, Düsseldorf, Hamburg und Stuttgart 021710 Aug 02