Bremer Woll-Kämmerei AG
Bremer Woll-Kämmerei AG: Notification of Loss Amounting to nearly 70% of Share..
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Announcement according § 15 WpHG (Securities Trading Act):
Notification of Loss Amounting to nearly 70% of Share Capital, and Restructuring
Concept
The Share Capital of Bremer Woll-Kämmerei AG has deteriorated in the first half-
year 2004 due to a lack of growth in the wool textile industry, so that the
Board of Management, in exercise of its discretion and in duty bound assumes,
that a loss of close to 70% of the share capital is apparent.
Due to continued weakness of the market, and to the fact that measures for
earnings improvement have not yet been completed, the Bremer Woll-Kämmerei AG
has to report a deficit of 8.1 million euros for the first six months of the
year, including extraordinary expenditure amounting to 4.3 million euros, so
that the company assets are reduced by nearly 70% of the share capital.
The Board of Management is currently working on a restructuring plan for the
company consisting of a number of strategic and operational measures including
negotiations with the major creditors and the major shareholder of the Company,
which are intended to secure its long term survival. The Board of Management and
the Supervisory Board expect to be in a position to present these measures and
a restructuring plan to the shareholders at the ordinary Annual General Meeting
on 31 August 2004.
The Board of Management
Please address any queries to Mr Günther Beier Tel: 0421/60 91-304 or
Mr Thomas Bolte Tel.: 0421/60 91-205.
Board of Management of the Bremer Woll-Kämmerei AG
Günther Beier, CEO
Trevor Thiele
BREMER WOLL-KÄMMEREI AG
Postfach 71 01 80
D-28761 Bremen
Tel.: 0421/60 91-0
Fax.: 0421/60 91-600
e-mail: info@bwk-bremen.de
Internet: http://www.bwk-bremen.de
end of ad-hoc-announcement (c)DGAP 21.07.2004
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WKN: 527 200; ISIN: DE0005272009; Index:
Listed: Amtlicher Markt in Berlin-Bremen, Frankfurt (General Standard), Hamburg,
Hannover und München; Freiverkehr in Stuttgart
210828 Jul 04
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