Vivacon AG

EANS-Adhoc: Vivacon AG announces acute liquidity crises and restructures legal representatives

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Against the background of the ongoing capital market crisis and the difficult market environment, Vivacon AG (ISIN 000604 8911) is in an acute liquidity crisis. The company currently negotiates with all creditor banks about extension agreements and the opportunity for an extrajudicial restructuring concept. Intention is also the prolongation of portfolio financings becoming due in the current year. The restructuring concept and the planned restructuring envisage short-term fund raising by sale of assets (real estate) and possibly investments. In addition, further measurements for cost reduction will be implemented.

Against this background, the company reduced the number of board members. Mr. Zweigner resigns from the executive board, which now consists of Mr. Ries and Mr. Rodemer. Executive board and supervisory board thank Mr. Zweigner for his efforts.

In the future, the supervisory board consists of Mr. Leffin, Dr. Vier and Prof. Dr. Gräf. Mr. Graebner stepped down. Executive board and supervisory board thank Mr. Graebner for his longtime efforts.

Vivacon AG applies for a segment change from the Prime Standard to the General Standard because of the current situation. For this reason, the quarterly reporting according to the regulations of the Prime Standard segment is omitted. Instead, the company will publish interim statements according to Sec. 37x of the WpHG. The publication date of the consolidated financial statements 2008 is currently uncertain.

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ots Originaltext: Vivacon AG
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Branche: Real Estate
ISIN:      DE0006048911
WKN:        604891
Index:    SDAX, CDAX, Classic All Share, Prime All Share, DAX
              International 100
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Hamburg / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              München / regulated dealing

Weitere Meldungen: Vivacon AG

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