Intertainment AG — Board/Management Information 2004

Oct 22, 2004

News Details

Ad-hoc | 22 October 2004 07:30

Intertainment AG: Rüdiger Baeres moves to Supervisory Board of Intertainment

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Rüdiger Baeres moves to Supervisory Board of Intertainment Achim Gerlach new Chairman and sole Member of the Board of Management Ismaning near Munich, October 22, 2004 – Rüdiger Baeres (45), Chairman of the Board of Management and principal shareholder in Intertainment AG, Ismaning near Munich, will step down as Chairman of the media company at the Annual General Meeting on October 29, 2004. His successor will be Chief Financial Officer Achim Gerlach (44). He will head Intertainment as Chairman and sole Member of the Board of Management. Intertainment will expand the Board of Management at an appropriate time. Baeres is leaving the Board of Management at Intertainment in order to move to the Supervisory Board. This means he will continue to retain close contacts with Intertainment. June 2004 saw a successful outcome in favor of Intertainment to the lawsuit for fraud filed against American film producer Franchise Pictures and other parties. Baeres was in charge of organizing the litigation and played a major role in pursuing the action. Intertainment was granted damages amounting to 121.7 million US dollars. In his new function, he will provide support for Intertainment in the pending arbitration proceedings against Comerica Bank and other companies relating to the fraud perpetrated on Franchise Pictures. These proceedings are scheduled to commence next year. He will also provide advice on strategic issues. The move has also relieved the strain placed on Intertainment by personnel costs. Baeres already waived part of his salary last year. The regular election for the Supervisory Board of Intertainment is due at this year’s Annual General Meeting. Baeres will put himself up for election there. By mutual agreement of the Board of Management and the Supervisory Board, Dr. Wilhelm Bahner will not put himself forward for re-election. Baeres founded Intertainment in 1993 and he took the company to the stock market in 1999. At present, he holds 52.9 percent of the shares in the company and a further 9.3 percent through an investment company. Achim Gerlach has been Chief Financial Officer of Intertainment since 1998. Right from the start, the businessman has been dealing intensively with the Franchise Pictures case and the financial effects it exerts on Intertainment. end of ad-hoc-announcement (c)DGAP 22.10.2004 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Contact: Intertainment AG, Investor Relations, Osterfeldstrasse 84, 85737 Ismaning, Germany; Telephone: +49 (0)89 21699-0, Fax: +49 (0)89 21699-11, Internet: http://www.intertainment.de , E-Mail: investor@intertainment.de ——————————————————————————– WKN: 622360; ISIN: DE0006223605; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 220730 Okt 04