Corporate | 24 January 2011 09:11
Eckert & Ziegler Strahlen- und Medizintechnik AG / Key word(s):
Miscellaneous
24.01.2011 / 09:11
Berlin, January 24, 2011 - IBt S.A., the central affiliate and lead company
for radiotherapy activities of Eckert & Ziegler Strahlen- und
Medizintechnik AG (ISIN DE0005659700), filed a lawsuit at the Federal
District Court in Seattle, Washington, against Core Oncology, Inc. for a
rescission of the so-called Core Oncology Option Deal. On the basis of
these agreements, the Belgium-based IBt in November 2009 had acquired,
among other things, a take-over option for its American competitor and
further had made available to this company a short-term loan in the amount
of USD 2 million.
In the following period it turned out that the balance sheets for 2008 and
2009, which Core Oncology had presented before the loan was granted, had to
be considerably revised. In their rectified versions they contained much
weaker performance figures than originally claimed. Since Core Oncology
later also tried to materially modify the loan agreement with IBt through a
series of questionable contract amendments, IBt in its lawsuit asserts
fraud and deception. It added two Core Oncology directors to the list of
defendants.
With regards to the loan, which is still outstanding, Eckert & Ziegler took
a reserve against the 2010 results in the amount of EUR 1.4 million. Eckert
& Ziegler's profit forecast for 2010, at least EUR 1.80 EUR annual net
profit per share, remains unaffected by the provision.
The Board of Directors
Your contact for any questions you may have:
Eckert & Ziegler AG, Karolin Riehle, Investor Relations, Robert-Rössle-Str.
10, 13125 Berlin
Tel.: +49 (0) 30 / 94 10 84-138, Fax -112, e-mail: karolin.riehle@ezag.de,
www.ezag.com
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Language: English
Company: Eckert & Ziegler Strahlen- und Medizintechnik AG
Robert-Rössle-Str.10
13125 Berlin
Deutschland
Phone: 49 30 941084-138
Fax: 49 30 941084-112
E-mail: karolin.riehle@ezag.de
Internet: www.ezag.de
ISIN: DE0005659700
WKN: 565970
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
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