Balda AG / Miscellaneous
05.03.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Balda AG announces:
Bad Oeynhausen, March 5, 2008. Balda AG has sold Balda Solutions
Deutschland GmbH, Balda Werkzeugbau GmbH and Balda Solutions Hungaria Kft.
to KS Plastic Solutions GmbH as per end of last year. Based on profit and
loss transfer agreements (Ergebnisabführungsverträge) Balda AG has to bear
the sold companies losses for the fiscal year 2007. Balda Solutions and
Balda Werkzeugbau have now provided drafts of the financial statements for
2007. Losses according to these draft statements for 2007 exceed previously
planned and budgeted numbers. There is no sufficient cash on hand to fully
cover those losses.
Balda AG is in negotiations with the companies mentioned concerning the
amount of the loss to be compensated and regarding a payment plan,
respectively. Furthermore, Balda AG is in talks with banks in order to
receive additional credit facilities to cover those loss compensation
claims.
Both negotiations are well under way. Based on the progress in these
negotiations so far, Balda AG is convinced to successfully reach agreements
within the next days. The annual press conference planned for March 19,
2008 and the annual shareholders meeting scheduled for May 7, 2008 will be
postponed. New dates for these will be announced in due course.
* * *
Company profile Balda AG
The internationally operating Balda Group develops and produces highly
integrated devices comprising plastic, metal and electronic components as
well as touch sensors. Among the customers of the SDAX listed company are
international brand-names from the mobile telephony industry, medical
technology and various related markets.
The integration of plastic and touch screen technologies creates completely
new customer benefits. Only Balda currently offers both technologies from
one source on a global scale. The group has a strong position in the
important growth markets China and India and owns four production
facilities in the region. Plants in Brazil and in Malaysia, as well as the
facility in Germany for Balda Medical, underline the global competitiveness
of the group of companies.
* * *
If you have any questions please contact: Balda AG, Clas Röhl, Phone: +49
5734 922 2728, Fax: +49 5734 922 2691, Mail: croehl@balda.de, Internet:
www.balda.de
* * *
This ad hoc-announcement includes 'forward-looking statements' which are
based on the current expectations of the management of Balda. They are
subject to risks and uncertainty because they relate to events and depend
on circumstances that will occur in the future, such as, for example,
developments in the mobile communications industry, changes in technology
and the ability to timely and successfully develop new products and various
other factors. Balda does not undertake any obligation to update publicly
or revise forward-looking statements except to the extent legally required.
This ad hoc-announcement is not an offer of securities for sale or a
solicitation of an offer to purchase securities in the United States or
elsewhere. The shares in Balda AG (the 'Shares') may not be offered or sold
in the United States or to or for the account or benefit of U.S. persons
(as such term is defined in Regulation S under the U.S. Securities Act of
1933, as amended (the 'Securities Act')) unless registered under the
Securities Act or pursuant to an exemption from such registration. The
Shares have not been and will not be registered under the Securities Act.
DGAP 05.03.2008
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Language: English
Issuer: Balda AG
Bergkirchener Str. 228
32549 Bad Oeynhausen
Deutschland
Phone: +49-(0)5734-922-0
Fax: +49-(0)5734-922-2747
E-mail: info@balda.de
Internet: www.balda.de
ISIN: DE0005215107
WKN: 521510
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Balda AG:
| Source: EQS Group AG