Genève, 09.06.2004 - Disclosure announcement transmitted by euro adhoc.The issuer is responsible for the content of this announcement.
EIC Electricity SA Swedish Supreme Court reverses BankruptcyDeclaration of EIC's Swedish Venture
The Swedish Supreme Court reversed thebankruptcy declaration of Energisystem i Sverige AB (ESS) on Monday,June 7. ESS thus successfully appealed and reversed earlier rulingsof two lower Swedish courts.
The bankruptcy declaration by the lower courts was related to thecontested deferred payment of SEK 6,5 million (CHF 1,1 million)claimed by the former owner of ESS. The arbitration proceduresinitiated against the main lender of the venture, Lantbruksredit AB,concerning the possible reorganization or restructuring of the group,continues.
EIC, through Scandinavian Energy Finance Ltd. ("SEFL"), owns 63% ofESS. EIC's total exposure to SEFL amounts to CHF 10.4 million, orapprox. 39% of the EIC net asset value.
EIC Electricity SA ("EIC") is listed on the Swiss Exchange (SWX) andon the Frankfurt Securities Exchange (Bloomberg: EIC SW Equity /EIVGR Equity). The Company holds three private equity investments in thefields of power generation, power trading and district heating.
Further inquiry note:EIC Partners AG Phone: +41-43-844 10 00Tel: +41(0)22 849 06 06FAX: +41(0)22 849 06 10Email: [email protected]
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WKN: 940179ISIN: CH0007162958Marktsegment: Investment Index (IGSP), official dealing FrankfurterWertpapierbörse, SWX Swiss Exchange