Hi PB:
I'm not sure what you'd call it. a merger... an aquisition..... or just a name change? i didn't know that both men were involved with CIT prior to the announcement. You may want to check on CIT filings to see if they were directors of CIT. i know they were directors of ALV and I think that this announcement states that they woulsd be voted in as directors of the NEW SOM listed company. That's my take on it. i could be in error.
Somshares
SpiritOn Media Holding SE acquires qualified majority in Caribbean Island Traders PLC
03.11.2008 | 18:29 Uhr
SpiritOn Media Holding SE, Munich, has acquired over 75% of Caribbean Island Traders PLC, London
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merger, acquisition and takeover
München (euro adhoc) - SpiritOn Media Holding SE acquires qualified majority in Caribbean Island Traders PLC Frankfurt am Main / London - October 31, 2008. SpiritOn Media Holding SE, Munich, has acquired over 75% of Caribbean Island Traders PLC, London, which is listed in the Open Market, via ALV AG, Frankfurt am Main. The intention is to change the company's name to Spirit ON Media Group PLC at an Extraordinary Shareholders' Meeting to be convened in the near future. The intention is also to propose that Messrs Udo Schaar and Dieter Falkenhahn be elected to the Board of Directors. Further details will be announced in the next few days.
About SpiritON MEDIA SE: SpiritON MEDIA SE, which is based in Munich, invests exclusively in digital media. This includes creating digital TV platforms via satellite for its subsidiaries SpiritON GmbH using SpiritON TV (
www.spiriton.tv) and MeinTV Shop (
www.meintvshop.de), and for equi8 Media GmbH using equi8 Pferdesportwettenkanal (
www.equi8.com), as well as the expansion of the company's own IPTV portal for its ASP New Media AG subsidiary.
end of announcement euro adhoc