Events subsequent to the reporting date
MLP has improved its position in the medical market through its acquisition of the independent finance broker ZSH in January 2009, and has paid the purchase price of approximately € 11.3 million from cash holdings. There is also a variable purchase price component which amounts to around € 0.6 million and is based on the financial success of ZSH up to March 31, 2009. ZSH has around 80 consultants who look after some 50,000 wealthy private clients as well as physicians and dentists in all questions of old-age provision and financial planning. In the previous three years, ZSH achieved annual revenues of between € 14 million and € 16 million.
MLP has expanded the Executive Board of the holding company through the appointment of Ralf Schmid to the post of Chief Operating Officer (COO), taking effect on March 1, 2009. In this connection, on February 16, 2009, the Supervisory Board appointed Ralf Schmid as the new Executive Board member up to December 31, 2012.
Within the scope of the focussing of our activities in the retail business, we have been looking for new owners to take over our business activities in the Netherlands since the beginning of 2009.
Apart from those described here, there were no other appreciable events after the balance sheet date with effects on the MLP Group’s net assets, financial position and results of operations.
Wiesloch, March 16, 2009
|Dr. Uwe Schroeder-Wildberg
This documentation includes certain prognoses and information on future developments founded on the conviction of MLP AG’s Executive Board and on assumptions and information currently available to MLP AG. Words such as “expect,” “anticipate,” “estimate,” “assume,” “intend,” “plan,” “should,” “could,” “project” and other similar terms used in reference to the company describe prognoses based on certain factors subject to uncertainty.
Many factors can contribute to the actual results of the MLP Group differing significantly from the prognoses made in such statements.
MLP AG accepts no liability to the public for updating or correcting prognoses. All prognoses and predictions are subject to various risks and uncertainties, which can lead to the actual results differing from expectations. The prognoses reflect the points of view at the time when they were made.