DGAP-News: Frogster Interactive Pictures AG: Gameforge CEO Alexander Rösner appointed to the Supervisory Board / Negotiations with shareholder Gameforge for a domination and profit transfer agreement underway
(firmenpresse) - DGAP-News: Frogster Interactive Pictures AG / Key word(s): Change of
Personnel/Contract
Frogster Interactive Pictures AG: Gameforge CEO Alexander Rösner
appointed to the Supervisory Board / Negotiations with shareholder
Gameforge for a domination and profit transfer agreement underway
16.02.2011 / 07:30
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Berlin, 16.02.2011: Alexander Rösner (41), CEO of Gameforge AG based in
Karlsruhe, has been appointed to the supervisory board of Frogster
Interactive Pictures AG with effect from 1 January 2011. Thus, Gameforge
AG's majority stake in Frogster is reflected in the supervisory board. On
16 August 2010 Gameforge AG made a public bid to Frogster's shareholders
and, at the offering deadline on 28 October 2010, held 81.15 percent of
Frogster's shares and voting rights. Since 24 September 2010, the
Berlin-based lawyer and notary, Hans-Joachim Schwenke, has been part of the
three-member supervisory board of Frogster. He was appointed to the
supervisory board based on a proposal from Gameforge AG and his appointment
was received positively by the executive board.
Gerhard A. Koning, chairman of Frogster's supervisory board comments: 'I am
very happy to have Alexander Rösner joining the supervisory board since he
is a direct representative of our main shareholder and one of the most
respected figures in the online gaming industry internationally.' Christoph
Gerlinger, CEO of Frogster: 'The engagement of Gameforge's CEO emphasizes
the importance of Frogster within the Gameforge Group. We are looking
forward to working together.'
Furthermore Gameforge AG informed Frogster that it intends to set up a
domination and profit transfer agreement between Gameforge AG as the
dominant and profit share entitled company, and Frogster as the dominated
and profit-transfer obligated company. Additionally it intends to cease
the listing of Frogster's shares at the stock exchanges (so called
'delisting'). The executive boards of both companies have agreed to
negotiate and prepare all necessary measures required for the agreement and
to submit these for approval to the Supervisory Boards and the Annual
Shareholder Meetings of both companies. Within the next days, Gameforge AG
and Frogster will request the appointment of a mutually agreed contract
auditor for the assessment of the domination and profit transfer agreement
to be concluded.
Under a domination agreement, a company is obligated to cede leadership to
the dominant company for the duration of the contract period. With a profit
transfer agreement, a company is obligated to transfer all profits to the
other company for the duration of the contract period or, alternatively,
entitled to receive compensation for any losses incurred.
Contact: Frogster Interactive Pictures AG, Tel. +49 (0)30-28 47 01-0
End of Corporate News
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16.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Frogster Interactive Pictures AG
Hardenbergstr. 9A
10623 Berlin
Deutschland
Phone: 030 / 284701-10
Fax: 030 / 284701-11
E-mail: frogster(at)ir-services.de
Internet: http://www.frogster-ip.de/
ISIN: DE000A0F47J1
WKN: A0F47J
Listed: Freiverkehr in Berlin, Düsseldorf, München, Stuttgart;
Open Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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112328 16.02.2011
Datum: 16.02.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 33216
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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