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S & T

Quanmax Increases Share Capital

The Austrian distributor of IT products will use the proceeds for the acquisition of S&T. The management and major core shareholders guarantee 90% of the capital increase.

December 1, 2011

S&T Realizes Capital Increase and Investor Participation

Quanmax AG and grosso holding are new majority shareholders of the Austrian IT consulting company, which is planning to return to profitability in three phases.

November 24, 2011

Quanmax Raises Targets for 2011

The Austrian distributor of IT products benefits from the acquisition of S&T. Target turnover for the fiscal year has been revised to € 150m.

October 28, 2011

S&T Shareholders Approve Capital Increase

Recapitalization of the Austrian IT consulting company authorized in today’s Extraordinary General Meeting.

October 25, 2011

Negative Results for S&T

The Austrian IT service provider S&T had to report losses in the third quarter of 2011. Sales were below expectations.

October 22, 2011

New Managing Director for S&T Austria

The Austrian IT service provider successfully concludes its restructuring phase and appoints Richard Neuwirth as Managing Director.

October 6, 2011

Funding Situation for S&T Secured

The Austrian IT-company could successfully conclude an agreement on capital increase and debt relief of banks.

October 4, 2011

Vienna Stock Exchange: Winners and Losers (2011-09-13)

Daily News-Flash from the Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.

September 13, 2011

S&T Signs Partnership with Quanmax

A Term sheet on investor participation between the two Austrian IT-companies has been signed.

September 5, 2011

S&T Deeper in the Red

The IT service provider recorded higher losses in the first six months of 2011. The Austrian workforce has been reduced by one third since October.

August 10, 2011

S&T: Operating Loss Widened

The ailing Austrian IT service provider has not yet achieved the turnaround. Half of the company’s share capital has already been used up.

June 30, 2011

S&T Wins Contract in Serbia

The Austrian IT service provider will be responsible for the implementation of the largest SAP project in Serbia in the last years.

June 28, 2011

S&T Announces Group Results - Down in the Red

Consolidated revenues of the S&T Group in 2010 amounted to € 351 m, down from € 385 m in the previous year.

April 30, 2011

According to its Employees, S&T is “Ripe for Bankruptcy"

The leadership of the troubled Viennese IT company is trying to hide an impending bankruptcy according to the company’s employees.

April 27, 2011

Substantial Financing Needs for S&T Again

The Austrian software company still suffers financial turmoil. New funds for € 3.5m are urgently required.

April 12, 2011

S&T Reduces Jobs

The ailing Austrian software company has to reduce a quarter of its staff in the current year. There are also problems in Germany and Switzerland.

April 7, 2011

S&T Restructuring: Agreement with Banks Concluded

Detailed negotiations with banks were successfully concluded by the Austrian software company.

February 23, 2011

Refunding at S&T Accepted by Banks

The Austrian software company could close a “refinancing package” with its creditors. S&T sells subsidiaries in Ukraine and Moldova.

February 1, 2011

New Board Member at S&T

The Austrian IT-consulter S&T appoints Michael Lanik as Chief Restructuring Officer.

January 26, 2011

AvW: Big Lawsuit because of Investment Fraud

One of the largest proceedings in Austrian economic history is being conducted against the former financial services provider AvW.

January 10, 2011

S&T announces to withdraw from Germany

The Austrian information technology consulter S&T withdraws from the German market. Hence the German subsidiary „S&T Deutschland GmbH“ will be closed.

January 10, 2011

S&T: New Investors in Sight

S&T, the software company undergoing massive difficulties located in Austria might get an Indian investor soon.

January 7, 2011

Profit Warning at S&T

The Q4 data of the Austrian software consulting company show negative operational results.

December 31, 2010

CEO Streimelweger leaves S&T

After the difficulties of recent months CEO Thomas Streimelweger is leaving the Vienna Stock Exchange listed company.

November 23, 2010

S&T Seeks to Refinance Bonds

The Vienna-based IT service provider wants to have a sound financing basis. New investors are also being sought.

November 19, 2010

S&T Denies Bankruptcy Petition

The Vienna Stock Exchange listed IT company provides S&T is facing widespread allegations. It has been rumored that the company is faced with a bankruptcy petition.

November 12, 2010

Reorganiser Grossnigg is interested in S&T

The in deficit IT group S&T is about to be restructured. Format, the Austrian magazine, reports that reorganizer Erhard Grossnigg intends to take over the majority of shares.

September 9, 2010

New management at S&T Austria GmbH

Eduard Bugelnig, Patrick Schnebel and Robert Latka take over management of the Austrian subsidiary of S&T.

July 23, 2010
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