PCB | April 21, 2008
Mania: Loss of half of the<br>registered share capital
In the course of preparing the annual balance sheet according to the German Commercial Code for the business year 2007 the management board of the Company assumes, based on provisional calculations, that a loss of more than half of the registered share capital has occurred.
The background to this is essentially the continuing disappointing development in the business division Production Systems which resulted in considerably lower earnings expectation for financial assets being part of this business division. The management board, therefore, assumes that the required adjustments relating to the book values of shareholdings and to loans granted to subsidiaries will result in such loss. Irrespective of ongoing discussions with third parties in order to find solutions to overcome this crisis, the management board will without undue delay call a general shareholders’ meeting pursuant to section 92 (1) of the German Stock Corporation Act, in which it will announce the loss and report on possible restructuring measures. This image has nothing to do this with this article.