Alter Energy Group AG
Alter Energy Group AG: ‘FINCON AG Appoints new Chairman, Files for Name Change’
Alter Energy Group AG / Change of Personnel/Letter of Intent Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- 'FINCON AG Appoints new Chairman, Files for Name Change' Zurich Switzerland – November 30, 2007 FINCON AG (Frankfurt Stock Exchange Ticker Symbol: 39f) announces that it has appointed Bruno Gerber as Chairman of The Board and filed for its name change from Fincon AG to Alter Energy Group AG (AEG). Abdullah Boulad resigned as Chairman upon the appointment of Mr. Greber on Friday November 9, 2007. Mr. Gerber has previous experience as a SAP Application Manager in the aviation sector and was CFO/Head of HR for a high-tech start-up company. In 2003 he founded his own company. Mr. Gerber currently serves on the Board of Directors of five public companies. The change of name accurately reflects the strategy of the company which signed a Binding Letter of Intent on November 2, 2007, to acquire a 100% interest in CJSC Kievenrgomash (KEM) from Ukraine Energy Acquisition Corp. (UEAC). About AEG: AEG is a Zurich based, publicly traded company active in acquiring Eastern Europe and CIS renewable energy generation companies and facilities as well as energy infrastructure transmission companies and assets. Earlier this month, AEG announced its intent to acquire KEM. This is the first of multiple planned acquisitions as AEG executes its penetration and expansion into these emerging energy markets. About KEM: A UEAC wholly owned subsidiary, KEM is a profitable Ukrainian company with over 13 years in operations, investments and activities in several energy related industries including but not limited to: thermal generation, commercial, residential, industrial and infrastructure electrical systems and services, heating, natural gas pipeline support and services construction. KEM is now diversifying into electricity infrastructure transmission and clean energy generation. For more information please visit our website at www.eng.kem.com.ua Contact: Investor Relations info@alterenergygroup.com Forward-Looking Statements Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to successfully integrate KEM with the operations of FINCON, the Company's current and future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, and other risks. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release. 30.11.2007 Financial News transmitted by DGAP ----------------------------------------------------------------------
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