euro adhoc: Advanced Medien AG
Disclosure of loss pursuant to § 92 German Stock Corporation Act (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Munich, Germany, March 19, 2003 - In connection with the preparation of its financial statements for fiscal year 2002, Advanced Medien AG, after due assessment of the circumstances, reached the conclusion that the company incurred a loss amounting to at least half of the capital stock of Advanced Medien AG.
The loss incurred by Advanced Medien AG is primarily due to the valuation allowance for loans to its subsidiary Advanced Licencing North America, Inc., write-offs on the participation value of TSC Technische Systeme Consult GmbH and an impairment loss on film assets.
The management board will convene the annual general meeting pursuant to § 92, para. 1 German Stock Corporation Act and report on the current situation of the company.
The management board
end of announcement euro adhoc 19.03.2003
Further inquiry note:
Susanne Rehm Tel.: +49(0) 896138050 Email: info@advanced-medien.de
Branche: Media
ISIN: DE0005093009
WKN: 509300
Index: Nemax All Share
Börsen: Frankfurter Wertpapierbörse / Neuer Markt
Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade