ItN Nanovation AG

euro adhoc: ItN Nanovation AG
ItN Nanovation AG Restructures Board of Directors and Strengthens Liquidity

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Company Information


Saarbrücken, December 19, 2008 - ItN Nanovation AG´s (ISIN DE000A0JL461) supervisory board has asked chairman of the board Dr. Tillmann C. Lauk to step down and resign from his duties as chairman effective today. Directorial board member Dr. Roland Schlager also resigned from his position. Until further notice, Dr. Ralph Nonninger will be in charge of the company´s operations as sole director.

ItN Nanovation AG had experienced a liquidity shortage during a diversification phase in which the company developed new business segments. The strained liquidity situation could now be alleviated by an influx of funds. A consortium of existing shareholders and new investors secured the necessary funding, which consists of several tranches. In addition to a loan, further corporate actions to increase the capital will be taken, provided that they are in accordance with stock-corporation and capital market laws. In the context of these corporate actions, creditors will have the option to provide their loan financing as investment in kind with a partial utilization of the approved capital and exempting shareholder purchase options. In consequence, parts of these corporate actions may have a diluting effect on shares held by existing shareholders.

end of announcement                               euro adhoc

Further inquiry note:

Please address questions to:
ItN Nanovation AG
Untertürkheimer Straße 25
66117 Saarbrücken
Tel.: +49 (0) 681/50 01-460
Fax: +49 (0) 681/50 01-499

IR contact:
edicto GmbH
Herr Axel Mühlhaus
Zeißelstr. 19
60318 Frankfurt am Main
Tel.: 069-90 55 05-52
Fax.: 069-90 55 05-77

Branche: Technology
ISIN: DE000A0JL461
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade

Original-Content von: ItN Nanovation AG, übermittelt durch news aktuell

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