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ADB Holdings S.A. Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
Geneva - 1st July 2008
Advanced Digital Broadcast Holdings S.A. (SWX: ADBN) reported today that its Annual General Meeting of Shareholders, held on Friday, 27 June 2008, had approved all proposed resolutions.
The resolutions adopted, as per the agenda, were:
1. Approval of Annual Report, including statutory accounts of Advanced Digital Broadcast Holdings S.A. and consolidated statements of accounts of the Group for the year 2007, report of the statutory auditors and report of the Group auditors; 2. Appropriation of available earnings; 3. Ratification and discharge of the members of the Board of Directors; 4. Election to the Board of Directors for one year: 4.1 Mr. Andrew Rybicki 4.2 Mr. Thomas Steinmann 4.3 Mr. Jean-Christophe Hocke 4.4 Mr. Philippe Geyres 5. Re-election of the statutory auditors and of the Group auditors
The tenure of the Board membership is one year, as per the Articles of Association of the company, and commences immediately after the Annual General Meeting of Shareholders.
At the same time, ADB Group announced two significant changes of its senior management structure. These are:
* Mr. François Pogodalla has been appointed a CEO of ADB SA, the Group's digital set-top box affiliate. This appointment is an addition to his current responsibility of ADB Group's Deputy CEO, in capacity of which he will continue to oversee the Group's Software and Services business segment.
* Mr. Janusz Szajna, the president of ADB Polska, has been promoted to the position of president of ADB Group Eastern Europe. Consequently, he will start operating at ADB Group level, expanding his responsibilities to cover the HR, administration and communication areas of all ADB Group units in the Eastern Europe. Today, it will include all units of Osmosys and ADB SA operating in Poland and Ukraine.
Both Mr. Pogodalla and Mr. Szajna report directly to Mr. Andrew Rybicki, CEO of ADB Group and Chairman of its Board of Directors.
"It is a particular pleasure to welcome again Mr. Philippe Geyres to our Board. His deep knowledge of the industry and strong, years-long experience as a General Manager and CEO of multi-billion dollars organizations will be key assets to our Company. At the same time, I wish to thank Mr. Simon Lin for his contributions to the works of ADB Group Board of Directors.", commented Andrew Rybicki, ADB Group Chairman and CEO. "We also adjusted our organizational structure to match the Group's continuing growth and further increase its efficiency. I am sure that the above mentioned changes will substantially help in executing the next steps of our strategy.
For further information please contact: Tina Nyfors EVP, Corporate Development Tel: +41 22 592 8433 Fax: +41 22 592 8432 t.nyfors@adbglobal.com -end- About ADB Group (SWX: ADBN)
ADB Group (www.adbholdings.com) was founded in 1995 and is a leading developer of solutions required to view and interact with digital TV broadcast through cable, satellite, terrestrial and IP networks. The Group primarily sells consumer premise devices, including set-top boxes, with over 10 million units deployed since 1997. The development and sales of the Group's products and services are conducted in two main operating segments: the Digital TV Equipment segment, mainly operated by ADB (www.adbglobal.com), and Software and Services segment, encompassing Osmosys (www.osmosys.tv) and Vidiom Systems (www.vidiom.com).
This press release contains forward-looking statements. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors, among which:
* future developments of the world digital TV market, in particular the future demand for digital TV products in the key markets and from key customers served by our Group; * pricing pressures, competitive market situation; * our and the industry's capability to successfully and timely innovate and develop challenging technology, and our capability to hire and retain high-level employees; * changes in the exchange rates between the US$ and the main other operating currencies of the Group, including the Euro and the Polish Zloty; * our ability in an intensive competitive environment, to continue securing orders from existing or new customers and to achieve our pricing expectations for volume supplies of new products in whose development we have or are currently investing; * the ability of our suppliers to meet our demands for supplies, qualitatively or quantitatively, and to offer competitive pricing; * our gross margin could vary significantly from expectations based on changes in revenue levels, product mix and pricing, changes in unit costs, and the timing and execution of shipments ramp-ups; * changes in the economic, tax, social or political environment, including import and other duties, military conflict, terrorist activities, as well as natural events such as severe weather, health risks, epidemics or earthquakes in the countries in which we, our key customers and our suppliers operate; * our ability to obtain required licenses on third-party intellectual property on reasonable terms and conditions, the impact of potential claims by third parties involving intellectual property rights relating to our business, and the outcome of litigation; * the results of actions by our competitors, including new product offerings and our ability to react thereto;
Advanced Digital Broadcast Holdings SA undertakes no obligation to publicly update or revise any forward-looking statements. Advanced Digital Broadcast Holdings SA reserves the right to amend the information at any time without prior notice.
The information contained in this press release may not be considered as being a substitute for economic, legal, tax or other advice and you are cautioned to base investment decisions or other decisions on the content of this release. You are recommended to consult your investment advisers or other advisers prior to making any decision.
This press release is not an offer of securities for sale or a solicitation to invest in Advanced Digital Broadcast Holdings SA securities. In particular, it is not an offer of securities for sale in the United States of America, its territories and possessions. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Advanced Digital Broadcast Holdings S.A. does not intend to register its securities in the United States of America.
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ADB Holdings S.A. Avenue de Tournay 7 Chambesy Switzerland
ISIN: CH0021194664; Index: SPI, SPIEX, SSCI; Listed: Main Market in SWX Swiss Exchange;
