euro adhoc: PANDATEL AG
Personnel
Operational business discontinued and
Singapore subsidiary plan to be closed
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information
02.01.2008
Hanover, January 2, 2008. Pandatel AG (ISIN DE0006916307 - General Standard).
Toward the turn of the year 2007/2008, all employees have gradually resigned voluntarily and they have taken job offers from other local companies. The company had to discontinue its operational business due to lack of personnel. Only 2 employees still remain.
In addition, the Singapore subsidiary, Pandatel Asia Pacific, is in the process of being closed. This measure does not affect any employees. Within the restructuring measures of 2006 and 2007 the number of employees had already been adjusted.
Arising expenses have been accounted for within liquidation costs.
About PANDATEL AG:
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. (U.S.A.) with Dr. Dan D. Yang as CEO of both companies. More Information on the website www.pandatel.com
end of announcement euro adhoc
Further inquiry note:
Raik Packeiser
insignis, agency for communications
+49 (0) 511 33 65 16 30
ir@pandatel.com
Branche: Telecommunications Equipment
ISIN: DE0006916307
WKN: 691630
Index: Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade