PROCON MultiMedia AG / Key word(s): Miscellaneous
11.11.2011 15:57
Dissemination 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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The Board of Directors of PROCON MultiMedia Aktiengesellschaft, Hamburg,
('Company') has reviewed the valuation of the shareholdings when setting up
the Company's interim statement of accounts as of June 30, 2011 and it
adjusted the value of its 94% shareholding in CINEGATE GmbH, Hamburg.
CINE-GATE GmbH which operates in the field of movie light and camera
technique will according to expectations of the Board of Directors
permanently not yield a positive result. The reason for this is the
difficult market environment. The Board therefore has adjusted the value in
full.
The book value of the shareholding so far was EUR 8.8 million for the
individual statement of accounts (according to German Commercial Code -
HGB). After the value correction of CINEGATE GmbH, the fur-ther
shareholdings will now be booked in with EUR 34.457 million and they
currently do not give rise to fur-ther value corrections. As to the group
accounts (IFRS), the complete value correction effects a reduction of the
value of the business and goodwill by EUR 3.156 million to EUR 10.650
million. The value adjust-ment does not affect liquidity, but the results
of the Company and the group of companies in full.
Board of Directors
11.11.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: PROCON MultiMedia AG
Bredowstr. 34
22113 Hamburg
Germany
Phone: 040/670 886-0
Fax: 040/670 61 59
E-mail: info@procon-online.de
Internet: www.procon-online.de
ISIN: DE0005122006
WKN: 512200
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Value adjustment of a shareholding
| Source: EQS Group AG