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ots Ad hoc-Service: DEAG AG <DE0005513907> General meeting decides to take STELLA into stock market-listed Hegener + Glaser AG

Berlin (ots Ad hoc-Service) -

Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
General meeting decides to take
STELLA into stock market-listed Hegener + Glaser AG DEAG sells STELLA
Entertainment AG holdings to institutional and private investors
Board appointments completed at STELLA AG and DEAG
At the extraordinary general meeting of Hegener + Glaser AG
(Security No. 604070) held on December 29, shareholders agreed by a
large majority (88,9%) to rename the company STELLA Entertainment AG
and to take in, as part of a mixed cash and kind capital increase,
Broadway Musical Management GmbH (BMM). BMM holds100% of musical
production companies PHANTOM DER OPER (Phantom of the Opera), CATS,
STARLIGHT EXPRESS, TANZ DER VAMPIRE (Dance of the Vampires), Disney's
DER GLÖCKNER VON NOTRE DAME (The Hunchback of Notre Dame), Disney's
DIE SCHÖNE UND DAS BIEST (Beauty and the Beast) plus STELLA Musical
Reisen GmbH and STELLA Academy. Appointed to the supervisory board
were Peter Schwenkow (chairman), Dr. Kurt Kiethe (vice chariman) and
Hans-Martin Buhlmann.
As planned, the supervisory board appointed Klaus von der Heyde as
Chief Executive Officer (CEO), while Wolf Dieter Werner was named as
Chief Operating Officer (COO), and Thomas Nedtwig as Chief Financial
Officer (CFO) after the general meeting.
Mr. Nedtwig, who retained responsibility for human resources on
the DEAG board, stepped down in that capacity and handed over to his
successor, CFO Markus Fabis. Klaus Ulrich, who had been in charge of
Artists & Tours at DEAG, resigned from the board at the year's end
after a lengthy illness. As part of the restructuring agreed in
September, COO Dietmar Glodde had already taken charge, on a
temporary basis, of the business operations for which Mr. Ulrich was
responsible.
As of 31 December 2000, DEAG has sold 20% of STELLA Entertainment
AG's share capital to institutional and private investors. It now
holds 59.29% of the current share capital. DEAG plans to retain at
least 51% of STELLA Entertainment AG. New shares from the capital
increase agreed at the general meeting are to be offered to existing
Hegener + Glaser shareholders for 9.70 euros each on a 1 for 8 basis.
The subscription period will begin in January 2001 and last four
weeks.
Once the entry has been made in the companies register and
stipulated periods have elapsed, Hegener + Glaser AG shares will
finally be traded in the German stock market's Geregelter Markt
sector as STELLA Entertainment AG. The company plans to apply for
SMAX listing at the earliest opportunity.
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