Ad-hoc | 8 October 2002 07:45

Telegate AG english

telegate AG prepares capital increase: Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– telegate AG prepares capital increase: A more solid balance sheet and less payments of interest Munich, October 8, 2002 , The Munich-based telegate AG plans a capital increase against contributions of up to approximately 47 Million Euro. On the evening of 7 October 2002, the Management Board and the Supervisory Board have passed a resolution on the execution of a capital increase against contributions in kind and a capital increase against contributions in cash. The majority shareholder of telegate AG, Seat Pagine Gialle, S.p.A., Milan, shall contribute to the Company a part of a repayment claim from a credit agreement in the total amount of 30.3 Million Euro still within this fiscal year. Hence, the share capital of the Company shall be increased from 12,730,000 Euro by 8,214,355 Euro to 20,944,355 Euro. With the planned capital increase against contributions in cash by further up to 4,515,645 Euro up to 25,460,000 Euro the Company shall offer to all shareholders of the Company – except for Seat-Group – to assume new shares in a ratio of 1:1 against payment of the purchase price 3.69 Euro per no par share. This offer shall be arranged by a German credit institution within the framework of a subscription offer. The Company shall convene an extraordinary Shareholders Meeting scheduled for 18 November 2002, which shall resolve on the capital increase. The capital increase will further improve the companys equity ratio and will help to save payments of interest in the future. Furthermore, telegate AG will receive capital for the further profitable growth of its national and international core business. Press information: telegate AG, Anja Meyer, +49 / 89 / 89541188 end of ad-hoc-announcement (c)DGAP 08.10.2002 ——————————————————————————– WKN: 511880; ISIN: DE0005118806; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 080745 Okt 02