Berlin, November 13th 2002

Mologen Holding AG Merges with Subsidiaries

Mologen Holding AG has merged the fully-owned subsidiaries Mologen GmbH and Soft Gene GmbH into Mologen Holding AG with a merger agreement of yesterday.

This substantial simplification of the corporate structure will increase the transparency for investors and lead to a further reduction in administrative costs. The measures taken will not affect the work of the subsidiaries. The subsidiaries will continue to formally exist until the appropriate entry is made in the commercial register. The merger will then be retroactively effective at June 30, 2002.

The management had originally planned for this measure to be implemented at the end of the year within the framework of the cost-reduction measures that were initiated in the middle of 2002. Government plans for corporate tax reform have made it necessary to move this step ahead in the schedule in order to provide protection under the current tax law to the absorption of carry-forward losses of the subsidiaries on the level of Mologen Holding AG.

Mologen went public in 1998 as one of the first biotechnology companies in Germany. The shares of Mologen are being traded in the Regulated Market on the Frankfurt Stock Exchange. Mologen has set a goal for itself of making MIDGE the market-dominating format for prophylactic (preventative) and therapeutic (healing) DNA medication for household pets, economically-useful animals and people within the next four years.

contact: Mr. M. Reichel, phone: +49-30-857 576 0, Fax: +49-30-857 576 50, e-mail: [email protected]


back to news