Salzgitter AG

euro adhoc: Salzgitter AG
Reorganization of Group Structure

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Today the Executive Board and the Supervisory Board of Salzgitter AG decided to propose to the General Meeting of Shareholders that the corporate structure of the Group be reorganized for internal financial reasons.

On the basis of the present structure, the annual profits and losses generated by the individual Group companies and existing fiscal losses brought forward from previous account can only be set off against each other to a limited extent. If this structure is retained, the Group would suffer disadvantages amounting to a presumed total of EUR130m to EUR150m in financial year 2005 and the financial years thereafter. Furthermore, central finance management without additional restrictions is not possible on the basis of the current structure. These disadvantages can be avoided with the desired new structure, which will merge all of the essential Group companies into a single fiscal body. This measure will have no impact on the company’s management structure.

This change in the corporate structure requires approval by the General Meeting of Shareholders. Therefore, the respective boards intend to obtain such approval at an extraordinary General Meeting of Shareholders on November 17, 2005 in order to ensure that the change becomes effective for financial year 2005.

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ots Originaltext: Salzgitter AG
Im Internet recherchierbar:

Further inquiry note:
Bernhard Kleinermann
Tel.: +49 (0) 5341-21-3783
Tel.:49 (0) 5341-21-01
FAX: +49 (0) 5341-21-2727

Branche: Iron & Steel
ISIN:      DE0006202005
WKN:        620200
Index:    MDAX, Prime Standard, CDAX, HDAX
Börsen:  Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Frankfurter Wertpapierbörse / official dealing
              Niedersächsische Börse zu Hannover / official dealing

Original-Content von: Salzgitter AG, übermittelt durch news aktuell

Weitere Meldungen: Salzgitter AG

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