|25.09.2014 - This year’s Annual General Meeting of PI Power International Limited (in liquidation) (the Company) has been scheduled to convene on October 31, 2014 at 12:30 p.m. (Central European Time) at the Austria Trend Hotel Savoyen Vienna, Rennweg 16, 1030 Vienna, Austria (the AGM).
The consolidated financial statements for the year ended 31 December 2013 will be made available to shareholders and certificate holders in both German and English on the Company’s website www.powerinternational.eu in the near future. All other details pertaining to the AGM (Notice, Managing Director’s Letter, proxy form) will also be available on the Company's website in the near future in the Investor Relations section under “Annual General Meeting 2014”.
The Board of Directors of PI Power International intends to provide further details regarding the three remaining matters involving the company at the upcoming AGM. These matters are a) the proceedings in the Royal Court of Jersey regarding claims by the former Chairman, Mr. Wolfgang Vilsmeier, b) the litigation with Mr. Dohr, a former director, who has claimed an “exit” fee of €700,000 stemming from his non-reelection to the board at the EGM held in April 2009, and c) the current status of the efforts to collect the arbitration award in relation to the Karpat Energo investment. PI Power International is currently waiting for a ruling from the Royal Court in relation to the trial with Mr. Vilsmeier held in June 2014. The Royal Court of Jersey has scheduled a trial regarding the claim of Mr. Dohr for November 2014.
The Board of Directors of PI Power International will present a detailed report to shareholders on the status of the liquidation of the company and the prospects for further possible capital repayments in the course of the AGM. Since 2009, in the course of the successive liquidation of the Company, the certificate holders have received capital repayments in several tranches totaling EUR 7.80 per certificate.