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Forthnet: New Composition Of The Board Of Directors


Forthnet S.A. (the "Company") announces to the investing public, in accordance with paragraphs and of the Athens Stock Market Regulation, as in force, in combination with articles 6 and 10 of Law 3340/2005 and articles 2 and 3 of the Decision 3/347/12.7.2005 of the Hellenic Capital Markets Commission, that during the meeting of the Board of Directors of the company on the June 18th, 2009: 

) Mr. Edwin Lloyd (independent member) and Mr. Franciscus Johannes Botman were elected as new non-executive members of the Board of Directors, in replacement of the resigned independent, non-executive members of the Board of Directors, Mr Georgios Koutsoudakis and r. Iasonas Stratos, for the remaining term of office of the resigned independent non-executive members. 

) Following the resignation of Mr. Ioannis Averof from Chairman of the BoD and non-executive member of the Board of Directors, of which however he will remain as an independent member, the composition of the Board of Directors was reformed as follows: 

1. Deepak Srinivas Padmanabhan, Chairman of the Board (non-executive member)
2. Pantelis Tzortzakis, Vice-president of the BoD and Chief Executive Officer (C.E.O.) (executive member)
3. Michael Warrington, member (non-executive member)
4. Majid Mohsiin, member (non-executive member)
5. Saviour Portelli, member (non-executive member)
6. Alkiviadis Payatakis, member (non-executive member)
7. Franciscus Johannes Botman, member (non-executive member)
8. Ioannis Averof, member (independent, non-executive member)
9. Edwin Lloyd, member (independent, non-executive member) 

After his election, the new Chairman of the BoD Mr. Deepak Srinivas Padmanabhan issued the following statement: 

"Speaking on behalf of the entire BoD I would like to thank the departing members Mr. Koutsoudakis and Mr. Stratos, member of the BoD from the founding of the company, for their meaningful contribution and their services to Forthnet. I would also like to welcome our two new members the Managing Director and Founder of Cyrte Investments B.V, Mr. Frank Botman, and Mr Edwin Lloyd, entrepreneur, who bring significant media, telecom and investing experience in our BoD. Finally I would like to thank Mr. Averof for the years that he has served as the president of our BoD and for his continuing support in the vision of Forthnet." 

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