Ad-hoc | 5 September 2002 07:32

Carl Zeiss Meditec AG english

Carl Zeiss Meditec: Supervisory Board Approves Important Structural Changes Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Carl Zeiss Meditec: Supervisory Board Approves Important Structural Changes Management Board Reduced to 3 Members — Finalization of Required Valuation Adjustment for the Last Stand-alone Quarter of the Former Asclepion — Own Subsidiary in Japan from October 1, 2002 With the approval of the Supervisory Board of Carl Zeiss Meditec AG (Id. No. 531 370), important changes will become effective in both management and the distribution structure as part of the strategic realignment process. Due to different opinions about the future business policy, Board Member Dr. Michael Dettelbacher has asked to be released from his duties in order to leave the company. The company has complied with Dr. Dettelbacher’s request. In future, the Management Board of Carl Zeiss Meditec AG (CZ Meditec AG) will consist of 3 members. At the same time, the Supervisory Board approved plans of the new CZ Meditec AG management to perform additional valuation adjustments on the part of the former Asclepion for its last stand-alone quarter. New knowledge gained on the basis of, for example, recent economic developments required that the valuation adjustments already announced at the end of June 02 will increase to a total of EUR 11.6m. In addition, a goodwill depreciation requirement totaling EUR 3.4m, which will have no impact on liquidity, was taken into account at the British subsidiary. This results from a decision stipulating that CZ Meditec AG in the UK will in future use the sales channel of the Carl Zeiss Group. An reallocation of this goodwill will take place as part of the initial consolidation. The Supervisory Board also approved the management plans for the company to be represented in Japan with its own subsidiary from October 02. This allows CZ Meditec AG to also distribute its products directly on the world’s second largest market for medical technology. As a result, direct revenues totaling approx. EUR 15m will be generated in the 02/03 fiscal year. A substantial contribution to the operating result is expected. With this move, CZ Meditec AG is now represented in all important medical technology markets across the globe. In the view of the Management Board and the Supervisory Board, the measures implemented will have a positive impact on the fast completion of the integration process and on the positioning of CZ Meditec AG as a full-line supplier of ophthalmic products. Contact: CZ Meditec AG, Jens Brajer/ IR; Phone: +49 (0) 3641-220105 end of ad-hoc-announcement (c)DGAP 05.09.2002 ——————————————————————————– WKN: 531370; ISIN: DE0005313704; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München und Stuttgart 050732 Sep 02