S&T System Integration & Technology Distribution AG: Recapitalization for S&T approved by shareholders

Vienna (pta019/25.10.2011/14:00 UTC+2) Today's Annual General Meeting of S&T has agreed to the recapitalization of the company and thus set the course for the group. The decisions taken provide for a capital increase of 8 million shares, taken up by Quanmax AG and grosso holding Gesellschaft mbH with exclusion of subscription rights, and the creation of authorized capital in the amount of 5.8 million shares. After fulfilment of the remaining conditions, in particular the approval of the Federal Competition Authority and the granting of the restructuring privilege by the Takeover Commission, the approved capital increase can be carried out and the related debt relief by the financing banks and business partners can be finalized. Thus, S&T will receive liquid funds amounting to EUR 16 million.

All 8 million new shares shall be registered shares and will form the share capital together with the old bearer shares. A stock exchange listing of the registered shares is not requested.

The AGM also elected new members of the Board: After completion of the capital increase, the following persons will be represented on the supervisory board: Dr. Erhard F. Grossnigg, Mag. Thomas Hoffmann, Mag. Werner Straubinger and Dr. Rudolf Wieczorek. They will replace the existing shareholders' representatives, Dr. Viktoria Kickinger, Dr. Wilhelm Rasinger and DI Johannes Schwaiger. Also after completion, Martin Bergler will resign as member of the Board, but will be available to the company in an advisory function.

After completion of the capital increase the new core shareholders will hold approximately 69% of the shares. A co-operation on strategic and operational levels with Quanmax will be initialised.

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Emitter:	S&T System Integration & Technology Distribution AG Geiselbergstraße 17-19 1110 Wien Austria
Contact Person:	Mag. Michael Dvorak
Phone:	+43 1 367 80 88 1020
E-Mail:	michael.dvorak@snt-world.com
Website:	www.snt-world.com
ISIN(s):	AT0000905351 (Share)
Stock Exchange(s):	Vienna Stock Exchange