PrimaCom AG

euro adhoc: PrimaCom AG
PrimaCom AG filed a law suit against the holders of the "second secured loan".

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Today the PrimaCom AG and the company`s subsidiary PrimaCom Management GmbH filed a law suit at the District Court Mainz against the holders of the "second secured loan". The second secured loan amounts to EUR 375.000.000. The law suit (AZ 10HKO 112/04) should determine whether PrimaCom AG and PrimaCom Management GmbH is obligated to pay the interest of the second secured loan or rather that the second secured holder should currently not be able to enforce possible existing interest claims. The law suit is based on expert opinions obtained from the renowned accounting partnership (Wirtschaftsprüfersozietät) LKC Kemper Czarske v. Gronau Berz - functioning as special examiner - as well as from Prof. Dr. Armbrüster on usurious credit and additionally on an expert opinion from a renowned insolvency office - that the second secured loan has an equity character. This implies that no interest would have to be paid over the entire term and that interest  already paid should be refunded to the company. Furthermore due to the  equity character of the second secured loans, it is not possible under the German law to continue to make interest payments as long as, and until a solution to the financial crisis is found.

PrimaCom AG Management Board

end of announcement                                euro adhoc 09.12.2004 16:23:54
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Further inquiry note: PrimaCom AG Investor Relations T.: +49(0)6131 944 522 E-Mail: investor@primacom.de

Branche: Telecommunications Equipment
ISIN:      DE0006259104
WKN:        625910
Index:    General Standard, CDAX, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Niedersächsische Börse zu Hannover / free trade
              Bayerische Börse / free trade
              Bremer Wertpapierbörse (BWB) / free trade



Weitere Meldungen: PrimaCom AG

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