s&t System Integration & Technology Distribution AG: Successful Realization of Investor Participation and Capital Increase

Quanmax AG and grosso holding GmbH new majority shareholders of S&T

Vienna (pta026/24.11.2011/15:40 UTC+1) - Capital increase by issuing 8 million new shares
- Wind of change in the company's management
- EUR 58 million equity increases in a first step
- S&T profitable again in 2012

S&T receives a total of EUR 24 million from issuing new shares in two capital increases. Thereof EUR 16 million directly flow to the company's cash funds today. This increase was registered in the commercial register after the Takeover Commission granted S&T the restructuring privilege and the Austrian Monopolies and Mergers Commission gave go ahead. The core shareholders Quanmax AG and grosso holding GmbH thus hold a total stake of approx. 70 % in S&T. The estimated closing of the transaction will be on November 28, 2011. Both investors will bindingly acquire further shares in 2012 in a second capital increase to an issue price of EUR 8 million.
Substantial debt relief was arranged with the financing banks and business partners to the amount of EUR 42 million, which will come into effect with the closing of the transaction.

Refreshing change in management
The new supervisory board will consist of the following members: Erhard F. Grossnigg, Thomas Hoffmann, Werner Straubinger and Rudolf Wieczorek. This supervisory board will appoint Hannes Niederhauser and Leopold Heidegger as new management board members effective with closing of the transaction. Hannes Niederhauser will assume responsibility as Chairman of the Management Board of S&T and in order to support the restructuring of the company he will waive his CEO salary. Leopold Heidegger starts as Chief Financial Officer. Martin Bergler will resign as CFO and management board member, effective with the closing of the transaction. Peter Trawnicek and Peter Sturz are completing the new management team.

As a consequence the balance sheet of the company will be fully cleansed and will boast an equity base of EUR 25 million after the conclusion of the first capital increase, a further equity inflow of EUR 8 million has been agreed for 2012. The liquidity situation has significantly improved thanks to the new financial resources.

Back to the profit zone
The aim of the new management board is to return S&T in 2012 to profitability. In the fourth quarter 2011, the focus lies on returning to "normal business operation", winning back the confidence of customers, employees and suppliers. The second phase will make sure that business develops smoothly again based on a strategic reorientation and synergies opening with Quanmax. Business in Austria will remain an important foothold. In a third phase, to be completed by the year 2015, customer access will be enhanced with international key account management. The company will focus more on research and development and will provide customers with its own products from a single source, in its role as a technology supplier.

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Emitter:	s&t System Integration & Technology Distribution AG Geiselbergstraße 17-19 1110 Wien Austria
Contact Person:	Zlata Kovacevic
Phone:	+43 (0) 1 367 80 88 - 1029
E-Mail:	zlata.kovacevic@snt-world.com
Website:	www.snt-world.com
ISIN(s):	AT0000905351 (Share)
Stock Exchange(s):	Vienna Stock Exchange (Official Trade)