P&T Technology AG
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P&T TECHNOLOGY AG: RESTRUCTURING OF MANAGEMENT BOARD. TAKEOVER OF 100% OF EECH
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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P&T TECHNOLOGY AG: RESTRUCTURING OF MANAGEMENT BOARD. TAKEOVER OF 100% OF EECH
Hamburg, September 30, 2002. The Supervisory Board of P&T Technology AG,
Hamburg, has decided to restructure the Management Board and thus to enable a
strategic reorientation of the company.
Against the background of the revised forecasts for the year as a whole the
Supervisory Board has taken the decision to replace, Jens Peters as Chairman of
the Management Board and Wolfgang Trüschel as Member of the Board. The
Supervisory Board expresses its thanks to the Members of the Management Board
for their achievements. Both Directors are to remain connected to the company in
future in consultative functions. In the next phase of the company`s
development, P&T will thus retain access to the expertise of the two founders of
the company in the acquisition and development of wind park projects.
The operational success of the sale of funds for regenerative energies via EECH
European Energy Consult Holding AG (EECH) for domestic projects has led P&T to
make sales orientation the very centre of the strategic reorientation of the
company. For this reason P&T Technology AG plans to takeover 100% of the shares
in EECH. The initial intention only extended to the increase of P&Ts
shareholding from 55% to 90%.
EECH shares now amounting to 45% of the total shares of the company are to be
acquired for a non-cash contribution by issuing 5.75 million shares from the
authorised capital following an audit in the context of a capital increase. The
shares are to be purchased on the basis of the current share price of the P&T
share with a deduction of over 80% seen against the corporate value of EECH as
established by a noted auditing company.
The stronger orientation towards sales required for international business is
also reflected in the new appointments to the Management Board: in addition to
the new Chairman of the Management Board, Walter Roman Ribis, previously
Managing Director of Carnot Bioenergiesysteme, the Chairman of the Management
Board of EECH, Tarik Ersin Yoleri, is to become a Member of the Management Board
at P&T AG. Dr. Carsten Weimann remains Chief Financial Officer of P&T AG.
The sales orientation necessary for a wind park developer will lead to the
marketing of projects taking precedence over acquisition and development. Due to
this, an assessment of all international projects is to be carried out in the
next few weeks as to whether they are compatible with this prerequisite. The
future, earnings-oriented growth of the company is to be developed on this
basis.
end of ad-hoc-announcement (c)DGAP 30.09.2002
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WKN: 685 280; ISIN: DE0006852809; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
302039 Sep 02
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