The board of AudioDev AB files for bankruptcy

As a consequence of AudioDev’s liquidity situation and the very low demand in the market, the board has explored the possibilities of issuing new shares. The major customers of AudioDev AB have as a consequence of the global recession chosen to minimize their investments in 2009. It is likely that the investments will be limited next year as well. The largest share holder of AudioDev AB, Briban Invest, holding 58% of the shares, has declined to participate in an issue of new shares. The Board has therefore decided to file for bankruptcy of AudioDev AB. The bankruptcy does not include the subsidiaries in Germany, the US and the affiliated company in Hong-Kong. The information presented here is such that AudioDev AB (publ) is required to make public under the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was released for publication on June 15 2009 at 09:00 CET.

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