UMS AG reports on the first three months of fiscal year 2017 / 18
Hamburg, September 14, 2017. UMS United Medical Systems International AG i. L. (UMS, ISIN DE 0005493654 / WKN 549365) has reported on the first three months of the new liquidation year. The expenses incurred are covered by the liquidation provision that was created.
Earnings per share amounted to EUR 0.00, as in the same period last year, while cash in banks decreased by EUR159k, as planned, and now amount to EUR1,603k or 38 cents per share. As at the beginning of the new liquidation period, equity amounted to EUR2,418k or 58 cents per share.
The length of the remaining liquidation period will depend on the proceedings against the Company's former tax advisor (Ebner Stolz Wirtschaftsprüfer, Steuerberater, Rechtsanwälte) and the sales tax audit. In a ruling dated May 23, 2017, the Hamburg Court of Appeals found for the Company on appeal in the lawsuit against Ebner Stolz and ordered Ebner Stolz to pay damages to compensate the entire harm done and to bear the entire costs of the proceedings. An appeal to the German Supreme Court was not allowed. Shortly before the deadline was to expire, Ebner Stolz filed a petition with the German Supreme Court challenging the denial of leave to appeal the decision of the Court of Appeals and applied for a two-month extension in which to file a brief explaining the grounds for its appeal. The Supreme Court granted that extension.
We have nothing to report regarding our opposition to the preliminary order in the sales tax audit because the tax authorities have refused to give any information about the status or the timing.
The entire report can be downloaded from the Company's website at www.umsag.com.
About UMS International AG
UMS International AG is a corporation listed in the Prime Standard segment of Deutsche Börse AG. The Company sold its interest in United Medical Systems (DE), Inc. and thus essentially all its assets on August 14, 2014. The shareholders agreed to this sale at the special meeting held on September 25, 2014. The agreement was consummated on November 11, 2014. Now that the assets have been sold, the purpose of the Company is to manage its own assets.
At the shareholders' meeting on April 27, 2015, the shareholders resolved to dissolve the company as of April 30, 2015.
Christian Möller, Tel: (040) 50 01 77-00, Fax: (040) 50 01 77-77, E-Mail:
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