[rollei_list] OT: Leica latest

  • From: Nick Roberts <nickbroberts@xxxxxxxxxxx>
  • To: rollei_list@xxxxxxxxxxxxx
  • Date: Mon, 18 Apr 2005 13:10:02 +0100 (BST)

"Press release
Frankfurt/Solms, April 15, 2005
Supervisory Board of Leica Camera AG proposes capital
measures to General Meeting
and appoints new Chairman of the Board of Management
The Supervisory Board of Leica Camera AG, Solms,
unanimously and jointly with the Company?s
Board of Management, proposes measures to restore the
capital base of the Company and to
finance a restructuring. A simplified capital
reduction by ? 10.0 million to ? 1.5 million will be
proposed to the shareholders of the Company. Each
three no-par-value shares are to be
combined into one no-par-value share. Simultaneously,
the capital reserve amounting to ? 4.2
million will be released. Both measures will be
implemented in order to offset depreciation and
other losses totalling ? 14.2 million.
Following the capital reduction it will be proposed to
the Extraordinary General Meeting to
increase the share capital to up to ? 15 million by
issuance of up to 13.5 million new no-parvalue
bearer shares. The new no-par-value shares are to be
issued at an issue price of ? 1.70
per no-par-value share and to be initially offered for
subscription to the shareholders at a ratio of
1:9. In addition, an authorised capital is to be
created.
The text of the invitation to the General Meeting of
Leica Camera AG to be held on May 31,
2005 will be immediately published in the electronic
Federal Gazette (elektronischer
Bundesanzeiger).
The Chairman of the Board of Management of Leica
Camera AG, Solms, Ralf Coenen (43),
resigns from the Board of Management in mutual
agreement. The Supervisory Board of Leica
Camera AG has appointed Dr. Josef Spichtig (61) as
interim Chairman of the Board of
Management effective from April 18, 2005. The new
Chairman of the Board of Management has
a long experience in the management and consulting of
businesses, also in phases of
restructuring. Dr. Spichtig has a scientific and a
managerial education. He is married and of
Swiss nationality.
Contact for your editorial team
Gero Furchheim / Phone direct +49(0)6442?208?450 / Fax
direct +49(0)6442?208?455 /
gero.furchheim@xxxxxxxxxxxxxxxx"

Nick

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