EANS-Adhoc: CHRIST WATER TECHNOLOGY AG / CHRIST reports preliminary figures for 2009

--------------------------------------------------------------------------------
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------

11.02.2010

Christ Water Technology AG ("CWT" or the "Company"; ticker symbol CWT / Vienna
Stock Exchange) reports that, following changes in the composition of its
Management and Supervisory Boards in late 2009, the Company conducted an
in-depth review of its financial position as at November 30th 2009 and December
31, 2009. This effort included an entity-by-entity detailed review of assets
and liabilities to ensure that the Company´s consolidated financial position as
at those dates fairly reflect underlying realizable values of all assets, net of
liabilities. The review included a thorough examination of working capital
items, contracts in progress and long-lived assets (including intangible
assets), taking into consideration all facts known as of those dates.

This work has led the Company to record adjustments in the three month period
ending December 31, 2009, which, together with results of operations for the
fourth quarter of fiscal 2009, amount to EUR-31.4 million. As a result,
Shareholders´ Equity decreased from EUR36.9 million as at September 30, 2009 to
EUR5.5 million as at December 31, 2009. The Company´s net debt stood at EUR22.4
million as at December 31, 2009.

Pursuant to the terms of the voluntary takeover bid for CWT´s shares launched by
GLV Inc. in October 2009, CWT´s shareholders have until February 19, 2010 to
tender their shares.

Further inquiry note:
Christ Water Technology AG
Marc Barbeau, CA
[email protected]
Phone: +1 (514) 284-2224
end of announcement euro adhoc
--------------------------------------------------------------------------------

issuer:   CHRIST WATER TECHNOLOGY AG
          Walter-Simmer-Straße 4
          A-5310 Mondsee
phone:    +43/6232/5011-1001
FAX:      +43/6232/5011-1109
mail:     [email protected]
WWW:      www.christ-water.com
sector:   Biotechnology
ISIN:     AT0000499157
indexes:  WBI, ATX Prime

stockmarkets: official market: Wien
language: English

Digitale Pressemappe: http://www.ots.at/pressemappe/2907

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT | OTB

print