11th Sep 2006 15:34
Crescent Hydropolis Resorts PLC11 September 2006 CRESCENT HYDROPOLIS RESORTS PLC Isle of Man Munich Qingdao ANNOUNCEMENT (for immediate release) Appointment of Non-Executive Director, Changes to Shareholdings Crescent Hydropolis Resorts PLC (the Company) is pleased to announce theappointment of Mr. Alfred Michael Wuttke as a Non-Executive Director. Mr. Richard Armstrong has today resigned as a director to pursue his otherinterests. The Board wishes to thank Mr. Armstrong for his assistance andcounsel during the past year and wishes him well in the future. Mr. Wuttke, aged 44, is an executive director of UBS Stuttgart-Baden Wurttembergin Germany. Prior to his position at UBS, he worked for several years in theinvestment trading division of the Baden-Wurttembergische Bank, and for severalyears prior to that as a broker for KST-Wertpapierhandels AG at the StuttgartStock Exchange. Mr. Wuttke and members of the Alfred Wuttke family own5,685,000 shares representing 7.01% of the outstanding shares of the Company,which shares were acquired from shares held by Mr. Klaus Foerster acting astrustee for Poseidon, Neptune and Apollo investors in the Company for noconsideration on 4 September 2006. The Company further announces that Mr. Foerster acting as trustee for Poseidon,Neptune and Apollo investors in the Company has reduced his holdings on 4September 2006 in the Company from 56,675,149 shares representing 69.94% to45,735,149 shares representing 56.44%. As a result of these changes, Mr.Joachim Hauser, executive chairman of the Company, has transferred for noconsideration to certain of his family members and close associates a total of9,540,00 shares and continues to hold for the benefit of his family members,close associates and himself a total of 24,760,149 shares representing 30.56%.Additionally, as a result of transfers for no consideration to family membersand for the benefit of not-for-profit institutions and charitable organizations,Mr. Mansoor Ijaz, chief executive of the Company, has reduced his holdings inthe Company as of September 11, 2006 to 625,000 shares, representing 0.77%. The Board of Directors of the Company also announce certain changes in thejurisdictional and Companies Act law references in the Company's 2005 AnnualReport on pages 5, 6 and 7 which were identified during a routine review of thedocument by the Company's Isle of Man counsel. These changes appear on pages 5, 6 and 7 of the 2005 Annual Report and are: • Reference to "Company law" has now been changed to "Isle of Man law"; and • Reference to "Companies Act 1985" has been changed to "Companies Acts 1931 to 2004; and • The Company's auditor is being reappointed at the forthcoming Annual General Meeting "in accordance with Section 12(2) of the Companies Act 1982." • The number of shares held by Mr Klaus Foerster as printed on Page 5 was 56,300,149. The number should be 56,675,149. The percentage of holdings of 69.94% was correctly stated. Save as disclosed, there is no other relevant information required under the AIMRules. 11 September 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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