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Provider: Wright Reports
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$115.00
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Unternehmens Invest AG (UIAG) Announces Final Verdict in Libro AG Case
Unternehmens Invest AG (UIAG) announced that the Regional Court Wiener Neustadt announced on July 4, 2012, that the Prosecutor's office has not executed the filled remedies against the "Libro verdict" of June 21, 2011. It is therefore clear that not only all acquittals are final, but also that UIAG's profit cannot be skimmed off. The Prosecutor's Office in Wiener Neustadt requested to skim off UIAG's profit from the sale of shares to a strategic investor. The sum calculated amounted to approximately EUR 20 million. The skimming off is definitely excluded. The legally binding acquittals are related, among others, to the charge of fraud to the disadvantage of subscribers of new shares in connection with a listing on the stock market of Libro AG in 1999 as well as the charge of fraud to the disadvantage of the above mentioned strategic investor. Regarding the Management Board's suggestion to retain future earnings until further notice due to a possible risk from the former shareholding in Libro AG, from the Management Board's point of view this policy is no longer necessary.
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