euro adhoc: media[netCom] AG
media[netCom] revalues its investments in subsidiaries (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Ad hoc announcement in compliance with §15 WpHG (Ger-man law governing trading in securities)
media[netCom] revalues its investments in subsidiaries
Corporate funding secured in the medium term Hanover (28.05.2003): In view of the general economic environment, particularly the situation in the capital markets, media[netCom] is to reduce the valuation of its invest-ment in subsidiaries, with the agreement of its auditors. The conservative valuation, which will be adopted during the current financial year-end, will require an adjustment of around EUR 50 million.
The leading supplier of digital market-places for entertainment and erotica has also made certain that the medium-term funding of the enterprise is on a firm basis. All short-term loans have been converted into medium-term or long-term loans. This will not only improve the liquidity position of media[netCom], but will also have a highly positive effect on the reliability of planning.
Now that all the structural barriers have been removed, the Company will once again be able to concentrate fully on its operating activities. In particular, it will be able to focus on its proposed expansion in the Asian markets. These markets are characterised by high potential demand for language and visual value-added services. Due to above-average growth prospects for media[netCom], Klaus Helbert is to press ahead with development on-site. He has therefore retired from the Executive Board of the Company. His successor as Chairman of the Executive Board is Wolfgang Fuhrmann, the founder of AudioFon.
Further information can be obtained from:
media[netCom] AG Investor Relations Unter den Eichen 5, D-65195 Wiesbaden Tel: 0611 / 71 61-110, Fax: 0611 / 71 61-117 Mail: ir@media-netcom.de
end of announcement euro adhoc 28.05.2003
Further inquiry note:
Cornelia Poebing-Taboubi Tel.: +49 (0) 611 7161 110 E-Mail: ir@media-netcom.de
Branche: Computing & Information Technology
ISIN: DE0005423800
WKN: 542380
Index: Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade