euro adhoc: PANDATEL AG
other
Ad hoc disclosure pursuant to Art. 15 WpHG
Supervisory Board Appointment for PANDATEL AG by the Local Court Hamburg
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
24.01.2006
Hamburg, January 24, 2006. PANDATEL AG (ISIN DE0006916307), listed on the Frankfurt Stock Exchange (Prime Standard), announces that it has today received the court order of the Local Court Hamburg on the appointment of its Supervisory Board. Based on the Management Board application dated December 20, 2005, investment manager Alex Fang and attorney-at-law Dr. Axel Pfeifer were appointed members of the Supervisory Board to replace Axel Haas and Prof. Dr. Uwe Hannig who resigned in November 2005 (see ad hoc disclosure of November 21, 2005) pursuant to Art. 104 para 1 AktG (German Stock Corporation Law).
They assume office the moment the company receives this court order. According to Art. 104 para 5 AktG their office ends as soon as the deficiency (absence of the required number of supervisory board members for a quorum) is remedied, but latest after conclusion of the next annual general meeting, where, by shareholder election, substitute members may be appointed.
The Local Court Hamburg declined the application dated December 05, 2005, filed by the shareholders and retired Management Board Members Dr. Jahn and Dr. Agrawal to appoint their own two candidates to the Supervisory Board of PANDATEL AG.
The Local Court Hamburg does not consider itself capable of deciding which candidates are better suited to attend to the interests of the company and, therefore, the factor had to be decisive that the major shareholder has approved the candidates of the Management Board.
About Pandatel Pandatel is a German corporation based in Hamburg. Pandatel was formed in 1988 as Pan Dacom Telekommunikation GmbH. It went to public at Frankfurt Prime standard in November 1999. Pandatel provides Ethernet and data connectivity, multiplexing, and protocol conversion products such as Ethernet copper or fiber optic converters and multiplexers, Ethernet-over- SDH/Sonet, SDH/Sonet-over-Ethernet, and optical multi-wavelength transport products for enterprise customers. Pandatel currently sells its products through its regional offices and subsidiaries in France, UK, Spain and Singapore. The companys current operations, product strategy will be reviewed during the restructuring. OEM partnership such as Dowslakes business model will be explored to expand market presence. For more information about Pandatel, please visit www.pandatel.com
end of announcement euro adhoc 24.01.2006 14:50:51
Further inquiry note:
Christina Kunze
Tel.: +49 (0)40 644 14 187
E-Mail: cku@pandatel.com
Branche: Telecommunications Equipment
ISIN: DE0006916307
WKN: 691630
Index: Prime All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade