euro adhoc: PANDATEL AG
other
PANDATEL receives agenda item request from
Dowslake Venture Ltd.
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
28.03.2007
Hanover, March 28, 2007. PANDATEL AG (ISIN DE0006916307), listed on the Frankfurt Stock Exchange (General Standard), announces that it has today received a request of its majority shareholder, Dowslake Venture Ltd.
According to article 122 para 2 German Stock Companies Act, the majority shareholder requested to include into the agenda of the company's annual general meeting to be convened by PANDATEL the following agenda item:
"Resolution on dissolving the company
1. The company will be dissolved. Liquidation year is the calendar year; the
first liquidation year is a shortened fiscal year and ends December 31,
2007.
2. Dr. Ebner, Dr. Stolz & Partner Wirtschaftsprüfungsgesellschaft, Stuttgart,
Hanover subsidiary, are appointed auditors and group auditors for the
shortened fiscal year until liquidation, for the liquidation opening
balance and for the shortened liquidation year ending at December 31,
2007."Dowslake Venture Ltd. justifies its request as follows:
The company has booked substantial losses during the past years. Despite the restructuring implemented, we can no longer expect that the company will operate sustainably profitable given its obsolescent product portfolio.
Therefore, the liquidation is necessary in order to pay out to the shareholders at least the remaining authorized capital or the available liquidity respectively.
The company will consider the application without delay and decide on its further actions.
About PANDATEL
PANDATEL is a German corporation based in Hanover. PANDATEL was formed in 1987 as Pan Dacom Telekommunikation GmbH. It went public at Frankfurt stock exchange in November 1999. Majority shareholder is Dowslake Venture Ltd. with Dr. Dan D. Yang as CEO. In March 2006, Dr. Yang became also CEO of PANDATEL AG. PANDATEL is specialized in Ethernet technologies. For further information please visit www.pandatel.com
end of announcement euro adhoc 28.03.2007 17:37:48
Further inquiry note:
insignis GmbH, Agency for Communication
Raik Packeiser
Berliner Allee 9 - 11
30175 Hanover, Germany
Phone: .+49 511 33 65 15 31
Fax +49 511 33 65 15 33
Email raik.packeiser@insignis.de
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