euro adhoc: PANDATEL AG
Mergers - Acquisitions - Takeovers
Ad hoc disclosure
pursuant to Art. 15 WpHG
Dowslake Venture Ltd. to become new major shareholder in Pandatel AG - Dr. Dan
Yang to become Executive Board Chairman of Pandatel AG
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Hamburg, 19 November 2005. Dowslake Venture Ltd. is to become a new major shareholder in Pandatel AG (Prime Standard, ISIN DE000691630). The present major shareholder, AUGUSTA Technologie AG, yesterday sold a 29.0 percent stake in Pandatel AG´s share capital to Dowslake Venture Ltd. Based on a option agreement, a further 20.98 percent may be assigned to Dowslake Venture Ltd or another investor up until 28 December 2005. This means that by the end of 2005, AUGUSTA Technologie AG will have disposed of its entire 49.98 percent share previously held in Pandatel AG. Dowslake Venture Ltd. and related parties hold a majority share in Dowslake Microsystems, one of the leading providers of subsystems for intelligent optical networks. The American company, based in Santa Clara, is represented on an international scale. Pandatel AG welcomes this involvement on the part of Dowslake Venture Ltd. Pandatel AG, whose quarterly figures were published yesterday, continues to show an unsatisfactory business performance. Owing to the difficult economic situation at Pandatel AG, Dowslake Venture Ltd. is aiming to free the company from a takeover bid based on its possible acquisition of an interest totalling 49.98 percent. An application to this effect is to be filed with the German Financial Services Authorities. In addition the Pandatel AG Supervisory Board yesterday passed a resolution appointing Dr. Dan Yang as executive Board Chairman of the company. She will manage the business together with Thomas Becker, CFO. Dr. Dan Yang is founder and CEO of the American network specialist, Dowslake Microsystems.
Pandatel AG: Headquartered in Hamburg, Germany, Pandatel is a specialist in and provider of access and transmission technology for fiber-optic and copper data transmission. The employees at its headquarters, its own representative offices as well as at its subsidiaries together with a range of sales partners worldwide, the publicly listed company supports corporate clients and customers in 90 different countries.
end of announcement euro adhoc 19.11.2005 00:19:42
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Branche: Telecommunications Equipment
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