euro adhoc: Advanced Medien AG / Advanced Medien AG announces cancellation of merger with FAST TV SERVER AG (E)

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Advanced Medien AG announces cancellation of merger with FAST TV SERVER AG
Munich, November 25, 2003 - At today’s supervisory board meeting of Advanced Medien AG (ISIN DE-0001262186, SIN 126218), the chief executive officer of FAST TV SERVER AG, Matthias Zahn, informed the management board and the supervisory board of Advanced Medien AG that he will withdraw from the merger agreement. The draft merger agreement was initialed by the management boards of both companies on September 30, 2003, and submitted to the court for entry in the commercial register. The reasons for the withdrawal stated by Mr. Zahn are due to the future outlook for the licensing business of FAST TV SERVER AG with TV manufacturers, which has deteriorated recently compared to the forecast based on which the merger audit was conducted.
Due to Mr. Zahn’s decision, the supervisory board and the management board decided to cancel the extraordinary shareholders’ meeting on December 1, 2003, which was scheduled for the purpose of voting on the merger. The point of calling this meeting has now become moot. In light of this surprising cancelation, the supervisory board has asked the management board to examine the existing alternatives with regard to the possibility of short-term implementation. Due to structuring measures taken by the company with regard to the planned merger, Advanced Medien AG would also be suitable for alternative solutions.

Advanced Medien AG
The Management Board

Further inquiry note:
Advanced Medien AG, Susanne Rehm,
Tel: +49(0)89-6138050
FAX: +49(0)89-61380555

Emittent: Advanced Medien AG Keltenring 11 DE-82041 Oberhaching Tel: +49(0)89-6138050 FAX: +49(0)89-61380555 Email: WWW: ISIN: DE0001262186 WKN: 1260218 Indizes: CDAX, Classic All Share, Prime All Share, Prime Standard Börsen: regulated dealing Frankfurter Wertpapierbörse; free trade

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Niedersächsische Börse zu Hannover, Berliner Wertpapierbörse, Bayerische Börse, Börse Düsseldorf, Baden-Württembergische Wertpapierbörse
Branche: Media
Sprache: Englisch