Press releaseeuro adhoc: Wire Card AG / Mergers - Acquisitions - Takeovers / ad hoc release in accordance with §15 of the German Security Trading Act Wire Card AG plans to acquire XCOM Bank AG and capital increase2005-09-08T11:23:31Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. 08.09.2005 Berlin/Munich, September 8, 2005 - Wire Card AG, which is listed in the Prime Standard at Frankfurt Stock Exchange, announces the acquisition of XCOM Bank AG, that is based in Willich, Germany, in accordance with the resolution passed by the Management Board and the Supervisory Board on 8. September 2005. Subject to the approval of the German financial services supervisory authorities (BaFin) and the German banks' auditing association (Prüfungsverband deutscher Banken e.V.), Wire Card AG will be acquiring all the shares in XCOM Bank AG with effect from 1. January 2006 via Wire Card Beteiligungs GmbH, in which it will be holding a 100% interest in future. The purchase price amounts to EUR 13 million; the vendor and its parent company XCOM AG guarantee that XCOM Bank AG will be in possession of at least EUR 7 million in cash on 31. December 2005 that are defined in more detail in the sale and purchase agreement. Wire Card AG estimates that the overall investment costs (including the operating integration and running-in costs) amount to about EUR 18 million. Wire Card AG intends to complete the value chain in the payment services field by acquiring XCOM Bank AG. In order to finance this acquisition including the transaction costs and the necessary operating integration and running-in costs Wire Card intends to carry out a share capital increase. The company will announce further details in the next days. end of announcement euro adhoc 08.09.2005 10:43:52 Further inquiry note: Iris Stöckl Permalink:
|
Additional Informationhttp://wirecard.comDas Presseportal ist ein Service von news aktuell und die Datenbank für Presseinformationen im deutschsprachigen Raum. www.presseportal.de |