Ad-hoc | 30 March 2004 07:54

SHS is clearing up the finance structure

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– SHS is clearing up the finance structure Liabilities cut in half owing to a new strategic investor Munich, 30 March 2004. The Supervisory Board of SHS Informationssysteme AG approved a comprehensive debt relief plan for the SHS Group. Hereupon this morning the last corresponding contracts have bee signed. Thus the way is now free for a considerable reduction of the bank liabilities of the SHS Group. The debt relief concept covers a host of single measures, which will be implemented in the next few weeks: First of all a strategic financial investor with a company founded especially for this will take over outstanding debts to the tune of 9.05 million Euros from two of the three German banks, and a further creditor, who have financed the SHS Group so far. In this connection one bank and a further creditor will waive a further 0.5 million Euro. In the next step the new investor will also waive part of the outstanding debts. The remaining debts will be sold to SHS Informationssysteme AG. Therefore the investor will bring in the shares of the company, which has acquired the outstanding debts, by the way of an increase in real capital into the AG and thus convert these into equity capital of the AG. The subscription right of the remaining shareholders is excluded. The intrinsic value of the contributed debts will be certified by a expert auditor to be appointed by the court. The nominal capital of SHS AG will be increased by 3,333,333 Euros from 4,989,474 Euros to 8,322,807 Euros. One of the three banks will continue to accompany the SHS Group and co-finance the Spanish subsidiary through a long-term loan. This bank and the new investor will additionally ensure the short-term financial requirements of the SHS Group by injecting new liquidity. Behind the new strategic investor is a group of private persons, some of them from the circle of existing shareholders. The approval of the general meeting for increasing the real capital is to be given within the framework of the ordinary general meeting of SHS AG on 19 May 2004. After the full conclusion of the transactions the following picture can be seen: The medium and long-term liabilities of SHS Group have been cut in half, the equity capital has been strengthened considerably. Thus, it will be possible to improve the balance sheet relations in the SHS Group in the long term and considerably reduce the current interest burdens. SHS Informationssysteme AG will therefore have a healthy financing structure for the future. This is the basis for implementing the strategy for growth. Further information: SHS Informationssysteme AG Wolfgang Brand Tel.: +49/89/74 72 57-20 Fax: +49/89/74 72 57-10 E-mail: wolfgang.brand@shs.de end of ad-hoc-announcement (c)DGAP 30.03.2004 ——————————————————————————– WKN: 507240; ISIN: DE0005072409; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 300754 Mär 04