MatchNet plc

euro adhoc: MatchNet plc
Management Changes

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BEVERLY HILLS, Calif., August 12, 2004 - MatchNet plc, a leading provider of online personals, today announced it has withdrawn plans for the initial public offering of its common stock in the U.S.  The company cited a faltering market for Internet-related IPOs and said it would reconsider a U.S. offering next year if market conditions improved.  The company said it has formally withdrawn the Form S-1 registration statement it had previously filed with the U.S. Securities and Exchange Commission.

Concurrent with the announcement, MatchNet said Todd Tappin, the company’s president and chief executive officer, has resigned to pursue a new business opportunity, but will remain on the company’s board of directors. The company announced the appointment of David Siminoff, who has served on MatchNet’s board since February, as its new CEO.

Mr. Siminoff brings extensive Internet commerce experience to his new post.  He spent almost 10 years in executive capacities with Capital Group’s Capital Research unit.  At Capital Group, which is one of the world’s largest and most successful investment management firms, Mr. Siminoff was responsible for both research analysis and portfolio management in the media and Internet technologies sectors.  He holds an undergraduate degree and an M.B.A. from Stanford University, and an M.F.A. from the University of Southern California Film School.

MatchNet said that with work related to the prospective IPO now behind it, the company would focus the full weight of its organization on the core business and put in place a cost reduction initiative. The company therefore reiterated the full-year 2004 guidance it previously provided to investors, saying it expected to generate revenue between $65-70 million and achieve positive adjusted EBITDA 1). The company also said it has been informed by Messrs. Shapira, Carmel and Siminoff that they intend, subject to applicable legal requirements, to purchase shares of MatchNet on the Frankfurt Stock Exchange.

1)  Adjusted EBITDA represents net income before interest income, income tax expense, depreciation and amortization, non-cash stock based compensation, plus items we consider to be unusual or otherwise not indicative of our ongoing "core" operation.

About MatchNet plc MatchNet plc is a leading provider of online personals. MatchNet is traded on the Frankfurt Exchange under the symbol "MHJG." The Company’s Global Depository Shares trade under the symbol "MHNZF". The MatchNet network includes AmericanSingles®.com, JDate®.com,,,,,®,, Date.caTM, and FaceLink®.com.  More information is available at

IR Contact:
Ken Ross     
+ 1 323 658 3010

end of announcement            euro adhoc 12.08.2004

Further inquiry note: Elmar Bob Tel.: +49 (69) 74 09 37 88 Fax: +49 (69) 74 09 37 87 E-Mail:

Branche: Online
ISIN:      US5766601042
WKN:        930129
Index:    Classic All Share, Prime All Share, Prime Standard, SDAX
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Niedersächsische Börse zu Hannover / free trade
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Hamburger Wertpapierbörse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade

Weitere Meldungen: MatchNet plc

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