Corporate | 29 June 2004 09:12

SHS announces significantly increased equity ratio

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– SHS announces significantly increased equity ratio Munich, June 29, 2004. The implementation of the capital increase of SHS Informationssysteme AG was registered in the Commercial Register on June 24, 2004. The share capital of SHS AG has been increased from EUR 4,989,474 by EUR 3,333,333 to EUR 8,322,807 by issuing 3,333,333 new bearer shares without par value. One no-par value share represents a share of EUR 1.00 in the share capital at an issue price of EUR 1.59 per no-par value share. As part of the non-cash capital increase of SHS AG, SOCO GmbH will contribute all shares of its wholly owned subsidiary SOMI GmbH as a contribution in kind to SHS AG effective June 30, 2004. In return, SHS AG will grant SOCO GmbH the 3,333,333 new shares without par value which were created by implementing the capital increase. On June 11, 2004, an independent auditor of the non-cash capital increase valued the contributed shares in SOMI GmbH at a minimum of EUR 5.3 million. The annual general meeting of SHS Informationssysteme AG had approved of the related comprehensive debt relief concept for the SHS Group by a large majority on May 19, 2004. The entry of the strategic investor has thus reduced the Group’s previous liabilities of approximately EUR 20 million by almost 50 percent. SOCO GmbH had acquired receivables due from SHS in the amount of approximately EUR 8.9 million from one of the banks and acquired a further EUR 0.16 million from other creditors. This has led to a sustainable improvement of the balance sheet of the SHS Group and significantly reduced regular interest charges. Dirk Roesing, chief executive officer of SHS AG, comments: “Contributing the shares in SOMI GmbH to SHS AG will increase the equity ratio considerably. It will enable us to improve our credit worthiness and extend our financial leeway. From now on, all our efforts will once again be focused on our business in Germany and Spain, especially on further developing and marketing our GUARDEAN customer risk and customer value solution.” The three new members of the Supervisory Board, Dr. Tonio Kröger, Wolfgang Schmitz and Kurt Sibold, who were elected by the annual general meeting, will be involved in addressing the challenges of the future. Further information: SHS Informationssysteme AG Wolfgang Brand Tel: +49 – 89 – 747257 – 0 e-mail: wolfgang.brand@shs.de end of message, (c)DGAP 29.06.2004 ——————————————————————————– WKN: 507240; ISIN: DE0005072409; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 290912 Jun 04