euro adhoc: november AG / Capital measures / Executive and supervisory board propose resolution of capital reduction and capital increase against contribution in kind for financial restructuring of th

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Company Information

04.04.2007

Erlangen, 04. April 2007. In order to continue the financial
restructuring of november AG i.I., the annual shareholder’s meeting,
taking place on May 22nd, 2007, shall decide on the capital reduction
in a simplified procedure as compensation for losses and
depreciations in assets from Euro 7,508,320.00 by Euro 3,754,160.00
to Euro 3,754,160.00 (at the rate of two to one). Furthermore, the
shareholder’s meeting shall for the necessary financial restructuring
decide on a capital increase against contribution in kind with the
exclusion of the shareholders’ subscription rights in return for the
contribution of the companies IBL Gesellschaft für Immunchemie und
Immunbiologie mbH (IBL), Hamburg, and PROGEN Biotechnik GmbH
(PROGEN), Heidelberg, into november AG i.I. by the company Biomed
Beteiligungsgesellschaft mbH and Mr. Dr. Claus Müller. The
contribution of both companies will presumably - among other
conditions - be subject to a final, legally binding resolution of the
shareholder’s meeting on the said corporate action, the exemption
from the obligation to publish and make a mandatory offer by the
German Federal Financial Supervisory Authority (Bundesanstalt für
Finanzdienstleistungsaufsicht) according to § 37 Takeover Act (WpÜG)
and the successful termination of the insolvency proceedings on the
assets of november AG. For this purpose, it is intended to enter into
a contribution contract with Biomed Beteiligungsgesellschaft mbH and
Mr. Dr. Claus Müller prior to the shareholder’s meeting. For purposes
of the capital increase against contribution in kind with the
exclusion of the shareholders’ subscription rights and in
consideration of the capital reduction, 10,287,356 new notional
non-par-value shares shall be issued at an issue price of Euro 1.74
per notional non-par-value share (arithmetically Euro 0.87 per share
prior to the capital reduction). Moreover, the shareholder’s meeting
shall in consideration of the capital reduction and the capital
increase against contribution in kind decide on a capital increase
for cash by up to Euro 7,020,758.00 with subscription rights for the
shareholders.

end of announcement euro adhoc 04.04.2007 13:59:35
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ots Originaltext: november AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Marcus Weichert
Leitung PR/IR
Telefon: +49(0)9131 75088 868
E-Mail: weichert@november.de

Branche: Biotechnology
ISIN: DE0006762909
WKN: 676290
Index: CDAX, Technologie All Share, Prime All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
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