Advanced Medien AG

euro adhoc: Advanced Medien AG
Advanced Medien AG announces cancellation of merger with FAST TV SERVER AG (E)

---------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc.   The issuer is responsible for the content of this announcement. ---------------------------------------------------------------------

Advanced Medien AG announces cancellation of merger with FAST TV SERVER AG Munich, November 25, 2003 - At today’s supervisory board meeting of Advanced Medien AG (ISIN DE-0001262186, SIN 126218), the chief executive officer of FAST TV SERVER AG, Matthias Zahn, informed the management board and the supervisory board of Advanced Medien AG that he will withdraw from the merger agreement. The draft merger agreement was initialed by the management boards of both companies on September 30, 2003, and submitted to the court for entry in the commercial register. The reasons for the withdrawal stated by Mr. Zahn are due to the future outlook for the licensing business of FAST TV SERVER AG with TV manufacturers, which has deteriorated recently compared to the forecast based on which the merger audit was conducted. Due to Mr. Zahn’s decision, the supervisory board and the management board decided to cancel the extraordinary shareholders’ meeting on December 1, 2003, which was scheduled for the purpose of voting on the merger. The point of calling this meeting has now become moot. In light of this surprising cancelation, the supervisory board has asked the management board to examine the existing alternatives with regard to the possibility of short-term implementation. Due to structuring measures taken by the company with regard to the planned merger, Advanced Medien AG would also be suitable for alternative solutions.

Advanced Medien AG The Management Board

end of announcement            euro adhoc 25.11.2003

Further inquiry note: Advanced Medien AG, Susanne Rehm,

Branche: Media
ISIN:      DE0001262186
WKN:        1260218
Index:    CDAX, Classic All Share, Prime All Share, Prime Standard
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Niedersächsische Börse zu Hannover / free trade
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade

Weitere Meldungen: Advanced Medien AG

Das könnte Sie auch interessieren: