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Salzgitter AG

euro adhoc: Salzgitter AG
other
Reorganization of Group Structure

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
22.09.2005
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.
end of announcement                               euro adhoc 22.09.2005 19:37:00

Further inquiry note:

Bernhard Kleinermann
Tel.: +49 (0) 5341-21-3783
E-Mail: kleinermann.b@salzgitter-ag.de
Tel.:49 (0) 5341-21-01
FAX: +49 (0) 5341-21-2727
Email: gersdorff.b@salzgitter-ag.de

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

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