Private Shareholders Elect New Board of Directors

LAS VEGAS—The law firm representing Eric Johnson, the court-appointed receiver currently overseeing Private Media Group, filed a notice with the Clark County District Court today in the Consipio v Private lawsuit announcing the results of the Private Media Group shareholders meeting held Jan. 11 in Las Vegas, at which time a vote was taken to determine a new Board of Directors that will serve for one year.

“At that meeting,” the notice states, “the Stockholders elected Directors from the two slates of Nominee Directors that had been proposed, both by management and Stockholders. Joseph J. Mugan, Esq., of the firm of Kolesar & Leatham, Chtd., was the Inspector of Elections and submitted a Certificate and Report of Inspector of Elections, a copy of which is attached hereto as Exhibit ‘1’.

The report sets forth the names of those persons elected as Directors of [Private] for the coming year, whose terms expire at the next Annual Meeting of Stockholders or until his or her successor is elected and qualified. Those persons elected to the Board of Directors of [Private] are Eric Johnson, Ilan Bunimovitz, Anna Maksimova, Michael Martinez, James McCormick and Charles William Prast.”

The results indicate that the entire slate of directors nominated by Consipio Holding BV was elected, and that the slate recommended by the current board—Stefan Gunnarsson, Jan Jensen, Eric Johnson, Berth H Milton, Bo Rodebrant, Lars Ryd—was rejected by the shareholders. The sole name common to both slates is receiver Johnson.