EANS-Adhoc: CHRIST WATER TECHNOLOGY AG
CHRIST reports preliminary figures for
2009
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
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.
end of announcement euro adhoc
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