EANS-Adhoc: Curanum AG announces capital increase and debt restructuring

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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31.03.2011

Curanum AG's Management Board has passed a resolution to increase the
company's share capital. It has done so in advance of the publication
of its consolidated annual financial statements, and with the consent
of the Supervisory Board. The capital increase will be a rights
offering to all shareholders from authorized capital. The company
will issue up to 6,532,000 ordinary bearer shares, each with a
notional share in the share capital of EUR 1.00 per share, in
exchange for cash, thereby increasing the share capital by up to EUR
6,532,000, from currently EUR 32,660,000 to up to EUR 39,192,000. The
capital increase serves to support the planned transaction-related
growth path.

The new shares will be offered to shareholders in a 4.9 : 1 ratio,
and at a subscription price of EUR 1.80 per share. The 405,102
treasury shares owned by the company will not participate in the
subscription offering, and have consequently not been included in the
subscription ratio calculation. The subscription offer will be
published in the electronic Federal Gazette presumably on April 11,
2011. The offer period will run from April 12, 2011 to May 2, 2011.
The new shares are vested with full dividend rights for the 2010
financial year. The subscription offer is directed exclusively at
existing shareholders in the company. There are no plans to organize
subscription rights trading.

Shareholders will also have the exclusive right to acquire, at the
same subscription price, any new shares that have not been subscribed
for by shareholders as part of the subscription offer (so-called
"over-subscription"). Binding offers for such an over-subscription
must be submitted during the offer period. Should it be impossible to
allocate all the additional new shares for which shareholders have
made an offer to subscribe as part of their over-subscription, offers
to acquire further new shares will be allocated to those shareholders
pro rata to their exercised subscription rights until the entire
volume of the capital increase has been exhausted. The new shares are
to be admitted to trading on the Regulated Market (Prime Standard) of
the Frankfurt Stock Exchange, without publication of a securities
prospectus.

Curanum AG´s Management Board also announces today to kick off a
refinancing of the existing debt of the company. The current base
financing of the company consisting of a promissory note loan of
around EUR 31 million is to be replaced by a syndicated loan, since,
as a result of one-off effects and extraordinary write-downs
reflecting the Management Board's conservative valuation approach, as
well as an amendment to the IAS 36 accounting standard, the company
does not comply with an agreed financial ratio under the existing
loan documentation, thus granting the financing banks an
extraordinary termination right. Since this financial ratio, however,
neither reflects the current improvement in the company's net debt
position of around EUR 15 million, nor the company's earnings level,
which is materially impacted by one-off effects, and since the
interest rate level on the promissory note loan is relatively high,
the Management Board has launched measures to implement a debt
refinancing in the second quarter of 2011. This concept is intended
in particular to provide the company with new base financing.

Munich, March 31, 2011

end of announcement euro adhoc
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ots Originaltext: CURANUM AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Caroline Lutz
Tel.: + 49 89 242065 17
E-Mail: ir@curanum.de

Branche: Healthcare Providers
ISIN: DE0005240709
WKN: 524070
Index: CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / regulated dealing