Chairman of the Supervisory Board Prof. Willi Berchtold available for Lotto24 until agreement of essential economic parameters with ZEAL
(Hamburg, 25 April 2019) Prof. Willi Berchtold, Chairman of the Supervisory Board of Lotto24 AG (Lotto24.de), Germany’s leading online provider of state lotteries, has informed the company that he will be available to Lotto24 as a member and Chairman of the Supervisory Board until after the voluntary public takeover offer by ZEAL Network SE (“ZEAL”) has been completed and negotiations on key contracts have been concluded with ZEAL.
According to Berchtold, he intends to follow the principles of good corporate governance on the one hand and to ensure the protection of the remaining Lotto24 shareholders and equal treatment of all shareholders as an independent Supervisory Board member on the other.
In addition, he feels committed to the logic of the “Joint Reasoned Opinion of the Executive Bodies of Lotto24 AG” of 12 February 2019 to ensure independent company management separate from ZEAL in terms of personnel until the conclusion of negotiations on the future service relationships.
Berchtold intends to resign from his position on the Supervisory Board after the point in time at which the essential economic parameters of the future cooperation between Lotto24 and ZEAL have been agreed. According to current planning, this could be in November 2019.
With regard to the composition of the Supervisory Board of Lotto24 AG, ZEAL had stated, among other things in the Offer Document, that an independent member of the Supervisory Board of ZEAL should join the Supervisoy Board of Lotto24 AG as its chairman in future.
