SYGNIS announces acquisition of a loan from BASF SE
Heidelberg, 29 June 2012 – SYGNIS Pharma AG (Frankfurt: LIOK; ISIN DE000A1E9B74; Prime Standard) today announces the execution of an agreement effective 31 March 2012 with BASF SE to acquire a loan amounting to EUR 8,000,000 for a purchase price of EUR 1.00 which equals the fair value of the loan. The loan was granted to SYGNIS Bioscience GmbH & Co. KG, a wholly-owned subsidiary of SYGNIS Pharma AG. The acquisition of the loan is part of the necessary realignment of the Company. BASF is a shareholder with approximately 11 per cent in SYGNIS Pharma AG.
The acquisition of the loan at fair value will be accounted through profit and loss in the consolidated financial statements ended 31 March 2012.
The loan granted to SYGNIS Bioscience GmbH & Co. KG in September 2006 was due for repayment on 30 June 2015. Interest was charged at the 3-month EURIBOR plus a customary mark-up.