Tipp24 AG - Staff reduction and changes in the Executive Board

Mar 27, 2009 11:36 AM

Tipp24 AG / Change of Personnel/Strategic Company Decision

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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The members of the Executive Board of Tipp24 AG, Marcus Geiss and Petra von
Strombeck, will retire from the Executive Board as of 31 March 2009. Tipp24
AG has decided to scale down its Executive Board as a consequence of its
greatly reduced business operations since the second stage of Germany's
State Treaty on Gaming came into force. On 1 January 2009, Tipp24 AG was
forced to discontinue its previous internet-based brokerage business for
participation in games operated by 'Deutscher Lotto- und Totoblock' as a
result of prohibitions introduced by the new gaming legislation. The
www.tipp24.com website has since been operated by Tipp24 Services Ltd..

Against the same backdrop, Tipp24 AG has taken measures to terminate the
employment contracts of 139 of its 154 staff at the company's head office
in Hamburg as quickly as possible. The affected employees will definitely
cease working for Tipp24 AG by 31 March 2009 at the latest.

The remaining 15 employees of Tipp24 AG will be involved in administrative
activities for the Group's parent company.

Employees of Tipp24 Entertainment GmbH, whose business model is not subject
to the State Treaty on Gaming, are not affected by the measure.

Marcus Geiss will continue to fulfil his duties within the Tipp24 Group as
General Manager of the Italian subsidiaries Puntogioco24 and
Giochi24.

Tipp24 AG       
Frank Hoffmann       
Investor Relations   
Tel.:  +49 40 32 55 33- 142 
Fax:  +49 40 32 55 33- 5100  
E-mail: frank.hoffmann@tipp24.de     
Internet: www.tipp24-ag.de 



27.03.2009  Financial News transmitted by DGAP
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Language:     English
Issuer:       Tipp24 AG
              Straßenbahnring 11-13
              20251 Hamburg
              Deutschland
Phone:        +49 (0)40 325533-0
Fax:          +49 (0)40 325533-77
E-mail:       office@tipp24.de
Internet:     www.tipp24-ag.de
ISIN:         DE0007847147
WKN:          784714
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of News                                     DGAP News-Service
 
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