21st Apr 2008 17:19
Crescent Hydropolis Resorts PLC21 April 2008 21 April 2008 Crescent Hydropolis Resorts plc ("Crescent" or "the Company") The Board of Crescent would like to advise of amendments to the third and fifthparagraphs of the announcement issued on 18 March 2008. The third and fifth paragraphs should have read as follows: "Mr Artinger, aged 44, is a private investor from Germany and a shareholder ofthe Company. He formed and owned transact Elektronische Zahlungssysteme GmbH in1997 and was Managing Director there until 2003, when he sold the company toEuronet Worldwide, Inc. (NASDAQ: EEFT). He continued to serve as ManagingDirector during a transition period until 2006. transact is one of the leadingindependent electronic payments processors and the market leader in processingof prepaid mobile airtime top-up services in Germany, with a market share of 50%of electronic top-up transactions. Prior to forming transact, Mr Artinger washead of IT at Wellcom GmbH's e-payment group from 1990 to 1997. He served in theGerman army from 1988 to 1989 and studied at the Fachhochschule Muenchen from1983 until 1989. His current directorships include Schloss Burgscheidunger,Alpha Artinger GmbH & Co. and Montrag AG." "Mr Hohmann, aged 44, is head of a tax consulting firm in Dubai, United ArabEmirates. Mr Hohmann is a director of Trust ME. Trust ME offers a range ofprofessional accounting services to European companies in Dubai. Prior toforming Trust ME, Mr Hohmann and his brother, Lothar Hohmann, started a laserengraving company, PRECISE Trading LLC, where Mr Hohmann continues to be adirector, which is now the leading Middle East company for crystal laserengraving. Mr Hohmann was also a director of businesspants.com from 2005 to2006, Hohmann Management Consultancies from 2005 to 2007 and Arab German HealthServices from 2005 to 2008. From March 1998 until May 2003, Mr Hohmann wasassistant to the chairman of the board of Meffert AG Farbwerke, a leading paintproducing company in Germany. Mr Hohmann was educated in business administrationand law taxation, earning a Masters of Law Taxation at the College of AppliedScience in Worms, Germany in 1996. He served in the German Air Force from April1985 until September 1993." Below is the correct announcement in full. Appointment of Directors and Resignation of Directors Crescent Hydropolis Resorts PLC (the Company) is pleased to announce theappointment of Mr Bernd Wolfgang Artinger as non-executive chairman withimmediate effect. His appointment is concurrent with the resignation of MrJoachim Hauser as executive chairman, who has retired from the Board ofDirectors (the Board) but will continue to work for the Company at a projectdevelopment company level. The Company further announces the appointment of Mr Uwe Hohmann as chiefexecutive and executive director. His appointment is concurrent with theresignation of Mr Mansoor Ijaz as executive deputy chairman, who has retiredfrom the Board to pursue his bid for the United States Senate in the nextelection cycle. Mr Artinger, aged 44, is a private investor from Germany and a shareholder ofthe Company. He formed and owned transact Elektronische Zahlungssysteme GmbH in1997 and was Managing Director there until 2003, when he sold the company toEuronet Worldwide, Inc. (NASDAQ: EEFT). He continued to serve as ManagingDirector during a transition period until 2006. transact is one of the leadingindependent electronic payments processors and the market leader in processingof prepaid mobile airtime top-up services in Germany, with a market share of 50%of electronic top-up transactions. Prior to forming transact, Mr Artinger washead of IT at Wellcom GmbH's e-payment group from 1990 to 1997. He served in theGerman army from 1988 to 1989 and studied at the Fachhochschule Muenchen from1983 until 1989. His current directorships include Schloss Burgscheidunger,Alpha Artinger GmbH & Co., Montrag AG, Alpha Verwaltungs GmbH and MLBDevelopment GmbH. Mr Artinger owns 1,253,333 Ordinary Shares of the Company and 1,000,000 Optionson Ordinary Shares due to expire December 31, 2010. His shareholding represents1.52% of the Company's total voting rights. Mr Hohmann, aged 44, is head of a tax consulting firm in Dubai, United ArabEmirates. Mr Hohmann is a director of Trust ME. Trust ME offers a range ofprofessional accounting services to European companies in Dubai. Prior toforming Trust ME, Mr Hohmann and his brother, Lothar Hohmann, started a laserengraving company, PRECISE Trading LLC, where Mr Hohmann continues to be adirector, which is now the leading Middle East company for crystal laserengraving. Mr Hohmann was also a director of businesspants.com from 2005 to2006, Hohmann Management Consultancies from 2005 to 2007 and Arab German HealthServices from 2005 to 2008. From March 1998 until May 2003, Mr Hohmann wasassistant to the chairman of the board of Meffert AG Farbwerke, a leading paintproducing company in Germany. Mr Hohmann was educated in business administrationand law taxation, earning a Masters of Law Taxation at the College of AppliedScience in Worms, Germany in 1996. He served in the German Air Force from April1985 until September 1993. Mr Hohmann owns 550,000 Ordinary Shares of the Company, representing 0.67% ofthe Company's total voting rights. The Company has entered into service contracts with both Messrs Artinger andHohmann. Mr Artinger shall receive total compensation of £10,000 per annum forservice as non-executive chairman. Mr Hohmann shall receive €7,000 per month toserve as chief executive of the Company. The contracts shall be ratified andextended, if deemed in the interests of the Company, at the 2008 Annual GeneralMeeting. The Company has further issued indemnity letters to outgoing directors and alldirectors who previously served the company in a non-executive or executivecapacity. The Board intends to ask shareholders to ratify all indemnity lettersat the 2008 Annual General Meeting. No other information is required to be disclosed pursuant to Rule 17 andSchedule 2 (g) of the AIM Rules. For further information contact:- Uwe Hohmann Chief Executive +971 50 55 11 018 [email protected] Richard Swindells/Natasha Reed Nabarro Wells 020 7634 4700 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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