euro adhoc: PrimaCom AG
Board of Directors (Appointments and Changes)
CFO Paul Thomason leaves the company September 30, 2002 (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Mainz, September 3, 2002 (Neuer Markt Frankfurt: "PRC" / ID No. 625 910; Nasdaq, OTC BB: PCAGY). PrimaCom AG announced today that Paul Thomason, CFO and Speaker of the Management Board has decided not to renew his employment contract with PrimaCom AG and will leave the company on September 30th, 2002. The duties of the Chief Financial Officer will be assumed by Prof. Dr. Stefan Schwenkedel, member of the Executive Board, currently responsible for Strategy and Controlling. Mr. Thomason joined Kabelmedia GmbH, PrimaCom's predecessor, as its CFO in February 1996. In 1998 Kabelmedia merged with Sueweda to form PrimaCom. Mr. Thomason has served as PrimaCom's CFO since its origination and is its Speaker since October of 2000. Dr. Christian Schwarz-Schilling, Chairman of the Supervisory Board of PrimaCom AG, commented: "I have enjoyed working with Mr. Thomason over the past three and a half years and appreciate the contributions made by him during his time at PrimaCom. The Supervisory Board of PrimaCom wishes him all the best in his future endeavors." Paul Thomason, Speaker of the Executive Board and Chief Financial Officer, commented: "Over the last several months PrimaCom re-capitalized its balance sheet and made the necessary steps to operate in this tough market environment. The fact that the Company reached a near free cash flow neutral position in the second quarter reflects both of these efforts. All of PrimaCom's management has worked hard to achieve these results and I appreciate their efforts. I am confident that the Company will continue to perform and meet its goals in the future."
end of announcement euro adhoc 03.09.2002
Further inquiry note:
Dr. Stefan Schwenkedel, Member of the Executive Board Tel.: 49 6131 / 9310-200 Alexander
Hoffmann, Executive Vice President Tel.: 49 6131 / 9310-150 investor@primacom.de www.primacom.de
Branche: Telecommunications Equipment
ISIN: DE0006259104
WKN: 625910
Börsen: Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bremer Wertpapierbörse (BWB) / free trade
Hamburger Wertpapierbörse / free trade
Niedersächsische Börse zu Hannover / free trade
Frankfurter Wertpapierbörse / Neuer Markt