systaic AG
systaic AG’s CEO Michael Viktor Kamp announces his resignation
systaic AG / Key word(s): Change of Personnel/Change in Forecast 22.11.2010 15:16 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- systaic AG's CEO Michael Viktor Kamp announces his resignation systaic AG, Düsseldorf, announces that Michael Viktor Kamp has resigned from his position on the Executive Board today with immediate effect. Mr. Kamp's resignation is due to the construction delays for the Sardinian greenhouses and the resulting conflicts of interests in connection with his role with Soldevco SE, which have thus become too large. Michael Pack will take over at the helm of systaic AG in his position as the remaining member of the Executive Board. At the same time, the company announces that as a result of the amount of time that has already passed it will only be possible to complete one of the four solar projects in Sardinia this year. The remaining three projects are expected to be completed in the first quarter of 2011. This also impacts the handover date and the income from the sale of these power plants as a result of different tariff conditions. These developments mean that the interim report as of 30 September 2010 has to be postponed to 30 November 2010. The Executive Board also reduces its formerly estimated consolidated revenue target of 25 to 35 million euros for financial year 2010 to approximately 20 million euros. Contact: systaic AG Investor Relations Benrather Straße 18-20 40213 Düsseldorf Germany Phone: 0049-211-828559-0 Fax: 0049-211-828559-229 ir@systaic.com www.systaic.com 22.11.2010 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: systaic AG Benrather Straße 18-20 40213 Düsseldorf Deutschland Phone: +49 (0)211 828559-0 Fax: +49 (0)211 828559-29 E-mail: ir@systaic.com Internet: http://www.systaic.de ISIN: DE000A0JKYP6 WKN: A0JKYP Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Düsseldorf, Berlin, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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