EANS-Adhoc: november AG
Further Extraordinary Income Generated By Extensive
Debt Waiver
Long-term Repayment
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Consolidation
11.01.2010
november AG (ISIN: DE000A0S9N72) announces the successful negotiation with another major shareholder, resulting in a debt waiver and reorganization of liabilities. Total financial liabilities of the november AG owed to this major shareholder are exempted from interest. Additionally, a long-term deferment, a long-term repayment or partial repayments were agreed upon within the scope of a long-term payment plan. Another loan to PROGEN Biotechnik in the amount of approx. EUR 1.2 mio was paid off with TEUR 200; TEUR 700 were waived and the remaining debt was converted into a long-term and interest-free repayment plan.
Thus, short-term liabilities were reduced considerably by a total of approx. EUR 1.7 mio. This loan waiver results in an extraordinary income of approx. TEUR 700, improving the equity base by this amount.
Also this further constructive cooperation with another major shareholder represents an additional important milestone in the financial stabilization of the november AG and its subsidiaries.
end of announcement euro adhoc
Further inquiry note:
Dr. Dirk Zurek
Vorstand
Tel.: +49 (0) 221 82200 520 10
E-Mail: ir@november.de
Branche: Biotechnology
ISIN: DE000A0Z24E9
WKN: A0Z24E
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade