Berlin, 14.07.2005
Equity situation of IVU improves by € 3.4 Million (PR)
üstra agrees to capital increase, IVU restructures liabilities
IVU Traffic Technologies AG has stabilised its financial situation with an increase in capital and a restructuring of liabilities. The equity situation has improved by € 3.4 million as a result of an increase in capital of € 1.5 million provided by üstra and a loan write-off by DZ Bank of € 1.9 million. The bank's remaining credits are being repaid with the aid of new loans from Deutsche Bank and DKB. The risk of complete consumption of the company's equity has thus been averted.IVU Traffic Technologies AG is carrying out an increase in capital and is restructuring its bank financing. The increase in capital is being realised by the purchase of 1.5 million newly-created shares at a price of € 1 each by üstra AG, Hanover, under exclusion of subscription rights. üstra now holds approximately 11% of the share capital of IVU.
DZ Bank has written off a part of its claims amounting to € 1.9 million. In turn, the remaining credits from the DZ Bank will be repaid in full. Deutsche Bank and Deutsche Kreditbank are providing new loans for this purpose with a combined total of € 3.835 million.
The two measures improve the equity situation of IVU by € 3.4 million overall – directly by the purchase of shares by üstra with a value of € 1.5 million and indirectly by € 1.9 million. The sum of € 1.9 million represents extraordinary revenue which has resulted from loans to IVU being written off. The risk of complete consumption of the company equity in the 3rd Quarter 2005 has therefore been averted.
"The reduction of IVU's liabilities by € 3.4 million means a saving on interest payments and additional liquidity of about €200.000 every year. This considerably improves the creditworthiness of IVU - a good signal for our customers“, explained a pleased Professor Denert, Chair of the Board of the Berlin software company.
IVU Traffic Technologies AG is a leading supplier of IT systems for planning, operating and optimising transport and logistics processes. Over 25 years of experience developing hardware and software systems for more than 300 public transport companies has also made IVU the market leader for IT solutions in other segments: monitoring truck fleets, setting up retail networks in geo-marketing, election processing. This is IVU's approach to transportation and beyond.
Contact:
Thomas Vogt
Head of Corporate Communications
IVU Traffic Technologies AG
Bundesallee 88
12161 Berlin Germany
Tel +49 (0)30 85906-800
E-Mail to: Thomas Vogt
Website: www.ivu.de
IVU’s Equity Increases by € 3.4 Million (PR)