CHRIST WATER TECHNOLOGY AG

EANS-Adhoc: CHRIST WATER TECHNOLOGY AG
CHRIST reports preliminary figures for 2009

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Company Information

11.02.2010

Christ Water Technology AG ("CWT" or the "Company"; ticker symbol CWT / Vienna Stock Exchange) reports that, following changes in the composition of its Management and Supervisory Boards in late 2009, the Company conducted an in-depth review of its financial position as at November 30th 2009 and December 31, 2009.  This effort included an entity-by-entity detailed review of assets and liabilities to ensure that the Company´s consolidated financial position as at those dates fairly reflect underlying realizable values of all assets, net of liabilities.  The review included a thorough examination of working capital items, contracts in progress and long-lived assets (including intangible assets), taking into consideration all facts known as of those dates.

This work has led the Company to record adjustments in the three month period ending December 31, 2009, which, together with results of operations for the fourth quarter of fiscal 2009, amount to EUR-31.4 million.  As a result, Shareholders´ Equity decreased from EUR36.9 million as at September 30, 2009 to EUR5.5 million as at December 31, 2009. The Company´s net debt stood at EUR22.4 million as at December 31, 2009.

Pursuant to the terms of the voluntary takeover bid for CWT´s shares launched by GLV Inc. in October 2009, CWT´s shareholders have until February 19, 2010 to tender their shares.

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ots Originaltext: CHRIST WATER TECHNOLOGY AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Christ Water Technology AG
Marc Barbeau, CA
courrier@glv.com
Phone: +1 (514) 284-2224

Branche: Biotechnology
ISIN:      AT0000499157
WKN:        675399
Index:    WBI, ATX Prime
Börsen:  Wien / official market



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