Affichage Holding: Board of Directors agrees legal proceedings in connection with commitment to Greece

(PresseBox) ( Zürich, )
The Board of Directors of Affichage Holding AG has decided to initiate legal proceedings against former business partners and a former member of the Executive Board in connection with the Group's investments and business activities in Greece.

In Greece, a lawsuit has been submitted against the sellers of the Greek holding which today operates under the name of Affichage Hellas AG. This involves Philip Vrionis together with members of his family and other persons associated with him. The legal proceedings have been decided on the basis of the report presented to the Affichage Holding General Meeting of 25 May 2010 by the internal task force assigned to review the commitment to Greece, as well as more in-depth investigations. The lawsuit is based on the charge of deception and fraud.

In Geneva, a first instance responsibility claim has been lodged against the Executive Board member formerly responsible for international affairs. This is also related to the results of the internal examination of the company s business in Greece together with more in-depth investigations.

The Board of Directors has also been informed that two shareholders have submitted a conciliation petition in Zollikon. This focuses on individual former and current representatives of the governing body of Affichage Holding AG.
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