euro adhoc: Fortune Management Inc.
Board of Directors (Appointments and
Changes)
Change in the Board of Directors of Fortune Management Inc.
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
C.E.O. Interviews
04.03.2008
Zug/Switzerland, March 4 2008 - FORTUNE Management Inc. (General Standard, ISIN USU026281027; SIN: A0BLYY) informs that effectively immediately Sanford G. Henry has resigned from the board of directors for personal reasons.
This vacancy in the board of directors will be filled by Hermann Seiler. In 2005, Mr. Seiler joined FORTUNE Management Inc. (FMI) as Managing Director and Chief Operating Officer of the Private Equity Group. He also became a major shareholder of FMI as a result of the acquisition of a private equity company controlled by Mr. Seiler and our Chairman, Paul Bagley. In November of 2005 Mr. Seiler assumed responsibility for the development of FMI´s initiatives in the U.A.E. and was responsible for the structuring and the establishment of one of the first private equity organizations under UAE law, now known as Fortune Super Equity Management L.L.C. (FSEM). Initially he was seconded to FSEM, but he now serves full time in the capacity as Managing Director Investments and Chief Acquisition Officer. Mr. Seiler is a member of FSEM´s Management Board as well as Investment Committee.
Prior to that Mr. Seiler was a long time executive of Deutsche Bank, serving in different capacities in Frankfurt, New York and London in the investment-banking division. He was a founding member of Deutsche Bank´s project finance business and was instrumental in arranging over US$1 billion in project financing and responsible for structuring Deutsche Bank´s first ever oil and gas project finance transaction. During his tenure with Deutsche Bank he served on various boards, including the Supervisory Board Technology Committee of Deutsche Börse, the Board for GZS, the German industry wide Credit Card processor (Deputy Chairman), and the Board of Pago (Chairman), the largest Internet Payment Processor in Europe. He was instrumental in the launch of Deutsche Terminbörse as well as Deutsche Börse´s electronic exchange XETRA.
Mr. Seiler has a summa cum laude degree in Mathematics and Quantum Mechanics from the TH Darmstadt. He lives in Dubai.
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Paul Bagley, Chairman of FORTUNE, comments: "Mr. Seiler brings a wealth of experience to the Board of FMI, and as a significant shareholder, he will be a strong representative for the company´s shareholders. He will also solidify our very important relationship with FSEM."
Profile of FORTUNE Management Inc.: FORTUNE Management Inc., Zug/Switzerland, is a publicly listed private equity firm. Its two business divisions are Private Equity Management and Principal Investments. Private Equity Management achieves consistent revenues from the management of specialized funds, whereas Principal Investments comprises direct investments (e.g. in bio-diesel manufacturer GATE or in the Swiss asset managers FORTUNE Wealth Management Group AG) with a view to capital gains. FORTUNE Management Inc. has subsidiaries in Zug, Zurich, Geneva, Luxemburg, Rotterdam, Würzburg, Vienna and the Bahamas, as well as a branch in Dubai. The company´s shares (ISIN: USU 026281027) are listed in the General Standard segment of Frankfurt Stock Exchange (symbol: FMI1) and on the DIFX in Dubai.
end of announcement euro adhoc
Contact:
FORTUNE Management Inc.
Thomas Luber
Phone +49 69 9441 8069
IR@fortune-management.com
Bahnhofstrasse 10
P.O. Box 324
CH-6301 Zug
Branche: Financial & Business Services
ISIN: USU026281027
WKN: A0BLYY
Börsen: Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Frankfurt / regulated dealing/general standard