Landesbank Baden-Württemberg / Corporate Action/Final Results
21.11.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Todays Owners Meeting of Landesbank Baden-Württemberg (LBBW) has decided
cornerstones with a view to strengthening LBBWs capitalisation and, in
addition, has mandated the Board of Managing Directors to explore
possibilities of securing the banks scheduled borrowing with guarantees
furnished by the Financial Markets Stabilisation Fund or by the Owners in
the sense of a funding reserve.
In order to achieve and secure an appropriate level of capitalisation and
one that is now necessary in the current competitive environment, the
Owners Meeting has decided as a cornerstone to increase LBBWs equity
capitalisation by EUR 5bn in the first quarter of 2009 while preserving the
existing Owners ownership structures. The capital increase is subject to
approval by the Owners executive bodies.
In addition, LBBW will explore making use of a guarantee framework in an
amount of 15 to 20 bn for newly-issued debt instruments and other
liabilities or of guarantees furnished by its Owners in compliance with the
Landesbank Baden-Württemberg Act. This is primarily being done in order to
be able to ensure in the light of the current macroeconomic situation a
sustained supply of credits to the banks core markets in the future.
In connection with the ongoing crisis in the financial markets, LBBWs
Board of Managing Directors reported at todays meetings of the executive
bodies that despite a positive operating business performance, the LBBW
Group will post a negative operating result before tax and restructuring
expenses of around EUR 800m according to IFRS as of the end of September
2008. LBBWs Board of Managing Directors therefore assumes from today's
point of view that a loss for the year ending 31.12.2008 will be reported
in the IFRS consolidated annual financial statements. With regard to the
HGB individual enterprise accounts, the Board of Managing Directors
currently expects that it will not be necessary to report a loss in 2008.
As things stand at the present, LBBW is planning to service profit
participation rights, silent partners contributions and similar capital
instruments.
Contact:
Herr
Michael Pfister
Am Hauptbahnhof 2
70173 Stuttgart
+49 711 127-41610
michael.pfister@lbbw.de
DGAP 21.11.2008
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Language: English
Issuer: Landesbank Baden-Württemberg
Am Hauptbahnhof 2
70173 Stuttgart
Deutschland
Phone: 0711-127-73372
Fax: 0711-127-73004
E-mail: armin.brendle@lbbw.de
Internet: www.lbbw.de
ISIN: DE0005456131, DE0005456131 Genussschein Ausgabe 2 STUTTGART Regulierter Markt, DE0008065095 Genussschein Ausgabe 1 STUTTGART Regulierter Markt, DE0008066408 Genussschein Ausgabe 1994002 FRANKFURT Regulierter Markt, DE0008066408 Genussschein Ausgabe 1994002 STUTTGART Regulierter Markt, DE0008125824 Genussschein Ausgabe Kap. 5 STUTTGART Regulierter Markt, DE0008125832 Genussschein Ausgabe Kap. 6 STUTTGART Regulierter Markt, DE0008125840 Genussschein Ausgabe Kap. 7 STUTTGART Regulierter Markt, DE0002978657 Genussschein Ausgabe A. 1 FRANKFURT Regulierter Markt, DE0002978673 Genussschein Ausgabe A. 2 FRANKFURT Regulierter Markt, DE0002978715 Genussschein Ausgabe A. 3 FRANKFURT Regulierter Markt
WKN: 545613, 545613, 806509, 812582, 806640, 812583, 812584, 297865, 297867, 297871
Listed: Regulierter Markt in Frankfurt (General Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg
Informationen zu weiteren Finanzinstrumenten entnehmen Sie bitte den folgenden Webseiten:, , 1. Deutsche Website:, www.LBBW.de/Investor Relations/IR-Veröffentlichungen/Ad-hoc-Mitteilungen, Zugehöriger Link:, http://www.lbbw.de/lbbwde/1000002776-de.html, , 2. Englische Website:, www.LBBW.com/Investor Relations/IR Releases/Ad-hoc Releases, Zugehöriger Link:, http://www.lbbw.de/lbbwde/1000002776-en.html
End of News DGAP News-Service
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DGAP-Adhoc: Landesbank Baden-Württemberg:executive bodies approve cornerstones of capitalisation measures, explore guarantee measures and discuss earnings situation
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