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P&I Personal & Informatik AG

EANS-Adhoc: P&I Personal & Informatik AG
Renewed ineffective Resolutions by Members of the Supervisory Board

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
14.07.2010
The Management Board of P&I Personal & Informatik AG has been 
informed today that in the course of a Supervisory Board meeting of 
the company on 12 July 2010 two members of the Supervisory Board, 
namely Mr. Vinall and Dr Heidel, have tried to pass various 
resolutions of the Supervisory Board. Both the Chairman of the 
Supervisory Board and the members of the Management Board of P&I 
Personal & Informatik AG concur in the opinion that these resolutions
are ineffective due to the fact that they were passed by only two out
of the three members of the Supervisory Board; the chairman of the 
Supervisory Board, Mr. Wand, did not participate in the adoption of 
such resolutions. The Supervisory Board was therefore lacking the 
statutory quorum (see Section 108 para. 2 sentence 3 German Stock 
Corporation Act - Aktiengesetz, "AktG"). Pursuant to Section 108 
para. 2 sentence 3 AktG, resolutions of the Supervisory Board must be
adopted by at least three of its members. The subject matter of the 
resolutions which Mr. Vinall and Dr Heidel sought to pass were, inter
alia:
•       Declaration of the invalidity of the appointment of the Management Board
member Mr. Triadis and declaration of the invalidity of the employment contract
concluded with him;
•       Appointment of Dr Mossack as member of the Management Board of P&I
Personal & Informatik AG and conclusion of an employment contract with him;
•       Revocation for cause of Mr. Triadis and Dr Voß as members of the
Management Board with immediate effect and termination for cause of their
respective employment contracts without notice;
•       Assertion of several claims for damages and claims for return against
the members of the Management Board, Mr. Triadis and Dr Voß totaling at least
EUR 4.5 million plus interest and other costs;
•       Revocation of the appointment of Mr. Wand as chairman of the Supervisory
Board and election of Supervisory Board member Dr Heidel as chairman of the
Supervisory Board.
The members of the Management Board, Mr. Triadis and Dr Voß will 
continue to discharge their unaltered duties as members of the 
Management Board. They are of the opinion that claims for damages 
which might be asserted against them are without merit and that Mr. 
Wand still is effectively elected as chairman of the company´s 
Supervisory Board.
Wiesbaden, July 14, 2010
Management Board
end of announcement                               euro adhoc

Further inquiry note:

Andreas Granderath
+49 (0)611 7147-267
agranderath@pi-ag.com

Branche: Software
ISIN: DE0006913403
WKN: 691340
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade

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