[Leica] Any German Securities lawyers on the list?

[nathan.wajsman at planet.nl (nathan.wajsman@planet.nl)]

It most likely refers to a section in the law that imposes with 
minimal capital requirements. Once a company's accumulated losses 
exceed a certain percentage of share capital, the company is 
technically insolvent and could in principle be forced to liquidate. I 
know Spain has such a law, and apparently Germany as well. Note that 
this has nothing to do with whether they have cash to continue 
operating. But it does require the owners to recapitalize the company 
in some way. That is probably what Leica AG is referring to.


Nathan Wajsman
Almere, Netherlands
http://www.nathanfoto.com
http://www.fotosevilla.com
Print sales: http://www.photodeluge.com
Image licensing: http://www.alamy.com/search-results.asp?qt=wajsman

----- Oorspronkelijk bericht -----
Van: Tom Schofield <leicaluvr@comcast.net>
Datum: donderdag, februari 17, 2005 10:09 pm
Onderwerp: [Leica] Any German Securities lawyers on the list?

> Do we have a German securtiies lawyer on the list?  What is a 
> Ssection 92 
> (1) announcement and when is it required?
> 
> Tom Schofield
> 
> > Leica Camera AG, Solms, expects the existence of a loss in the 
> amount of 
> > half of its registered share capital in March 2005. The 
> Company's Board of 
> > Management will make a corresponding announcement according to 
> section 92 
> > (1) of the German Stock Corporation Law (AktG) at a General 
> Meeting to be 
> > held on May 31, 2005.
> > Concurrently, the Board of Management prepares a turnaround 
> strategy. It 
> > will propose at the General Meeting on May 31, 2005 that capital 
> measures 
> > be taken. In connection with such measures audits are conducted 
> at 
> > present. The measures proposed will be announced and published 
> in the 
> > designated journals at the time of the convening of the General 
> Meeting 
> > and the announcement of its agenda.
> 
> 
> _______________________________________________
> Leica Users Group.
> See http://leica-users.org/mailman/listinfo/lug for more information
>