Drillisch AG: Implementation of the planned change in the Management Board following closing of the overall transaction
Drillisch AG: Implementation of the planned change in the Management Board following closing of the overall transaction Maintal, September 30, 2017. After completion of the step-by-step acquisition of 1&1 Telecommunication SE by Drillisch AG, the Management Board Spokesman of Drillisch AG, Mr. Vlasios Choulidis, resigns from Drillisch AG's Management Board as planned. This had already been agreed between the company and United Internet AG in the Business Combination Agreement of May 12, 2017 and communicated, among others, in an ad hoc announcement of the same date and in the Joint Opinion of the Management Board and the Supervisory Board under Section 27 of the German Acquisition and Takeover Act on the voluntary public tender offer submitted by United Internet AG (Joint Opinion). Mr. Vlasios Choulidis resigns with effect from December 31, 2017.
Likewise as planned, the Supervisory Board appointed Mr. Ralph Dommermuth as CEO and Mr. Martin Witt as a member of the Management Board of Drillisch AG. This had also been agreed between the company and United Internet AG in the Business Combination Agreement and set out, among others, in the Joint Opinion and in the voluntary public tender offer submitted by United Internet AG. The appointment of Mr. Dommermuth becomes effective on January 1, 2018 and the appointment of Mr. Witt on October 1, 2017.
Mr. Vlasios Choulidis, who resigns from his position as Management Board Spokesman with effect from December 31, 2017, significantly shaped and developed the company and, recently, with the acquisition of 1&1 Telecommunication SE, he set the course for the creation of a strong fourth player in the German telecommunications market. The entire Supervisory Board thanks Vlasios Choulidis for his outstanding entrepreneurial performance in building up Drillisch AG since 1998.
Mr. Vlasios Choulidis has agreed to be available to the Company as a candidate for election to the Supervisory Board at the next general meeting. The Company and United Internet AG already envisaged such a change from the Management Board to the Supervisory Board in the Business Combination Agreement of May 12, 2017. The Supervisory Board welcomes the willingness of Mr. Vlasios Choulidis to join the Supervisory Board and would like to thank him expressly for being prepared to continue his relationship with the Company by serving on its Supervisory Board.
Mr. Ralph Dommermuth, who has been appointed as the company's new CEO with effect as of January 1, 2018, laid the foundation for today's United Internet AG with the formation in 1988 of 1&1 Marketing GmbH. In 1998 the qualified banker took 1&1 to the Frankfurt Stock Exchange, the first IPO of an internet company in Germany. In 2000, Mr. Dommermuth restructured 1&1 as United Internet AG and, most recently, he led the successful contribution of 1 & 1 Telecommunication SE to Drillisch AG.
Mr. Martin Witt, who has been appointed as a new member of the Management Board with effect as of October 1, 2017, played also a significant role in the successful contribution of 1 & 1 Telecommunication SE to Drillisch AG. Mr. Witt has been working in the field of telecommunications since 1994 and joined 1&1 Internet AG in 2009; since April 1, 2014, he has served as CEO of 1 & 1 Telecommunication SE.
Drillisch AG Drillisch AG is one of the largest network-independent telecommunications providers in Germany. The company offers a comprehensive portfolio of products and services for line-connected as well mobile voice and data services. In the premium segment, Drillisch concentrates on its brand 1&1. The brand for the offline segment is yourfone, which lends its name to the more than 200 stores Drillisch operates in top locations in German cities. In addition, many other successful mobile communications brands are part of Drillisch AG, including smartmobil.de, simply, sim.de, McSim, helloMobil, WinSim and discoTEL.
30.09.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Drillisch AG Wilhelm-Röntgen-Straße 1-5 63477 Maintal
Germany Phone: +49 (0)6181 412 218 Fax: +49 (0)6181 412 183 E-mail: email@example.com Internet: www.drillisch.de ISIN: DE0005545503 WKN: 554550 Indices: TecDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service