Tous Actualités
Suivre
Abonner SYGNIS AG

SYGNIS AG

euro adhoc: LION Bioscience AG
Restructuring & Recapitalisations / LION bioscience Announces Realignment

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Cambridge, MA, USA, Heidelberg, Germany, November 18, 2004 - LION
bioscience AG (Nasdaq: LEON) today announced that the recently
appointed Supervisory Board of LION bioscience AG has concluded
together with LION´s Executive Board that the previously published
operating forecast for the current and next fiscal year cannot be
achieved.
As a result, the Supervisory Board is in agreement with LION’s
Executive Board that a realignment of the business is necessary. The
top priority is reaching and maintaining profitability for the fiscal
year 2005/2006. Going forward, the company will be focused solely on
profitable activities and shall have an optimized organizational
structure.
The business areas for bioinformatics (core product SRS) and
cheminformatics (core product LeadNavigator™) shall be concentrated
in the already existing subsidiaries headquartered in Cambridge, UK
and Cambridge, MA, U.S., respectively. The Heidelberg office shall be
reduced to host the core functions of a headquarter as well as staff
assigned to the cheminformatics partnership with Bayer AG.
As part of the realignment, LION yesterday announced changes in the
Executive Board of LION bioscience AG. In addition, the company plans
to reduce the number of employees from 142 as of September 30, 2004
to around 50 to 70 employees in the course of FY 2005/2006.
Restructuring costs will mainly occur in the current fiscal year.
This realignment of the company is designed to achieve two major
goals. The first major goal is to assure LION’s profitability in
fiscal year 2005/2006. The allocation of new funds to the core
business units from the headquarter shall be done only if the unit is
profitable. The second major goal is to increase transparency for
investors through a better description of LION´s assets. Currently,
the company’s main assets, like the market leading SRS-System, are
not adequately reflected in the company’s share price.
end of announcement                    euro adhoc 18.11.2004 06:30:00 

Further inquiry note:

Günther Dielmann
Tel.: +49 (0)6221 4038 249
E-Mail: guenter.dielmann@lionbioscience.com

Branche: Pharmaceuticals
ISIN: DE0005043509
WKN: 504350
Index: Nemax 50, Prime Standard, TecDAX
Börsen: Frankfurter Wertpapierbörse / regulated dealing
New York / regulated dealing
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade

Plus de actualités: SYGNIS AG
Plus de actualités: SYGNIS AG