July 06, 2001 07:02am
PRVT: Private Media Appoints Commerzbank Securities to Explore Secondary Listing in Europe
Source: Private Media Group Inc.
by: Company Press Release
(BARCELONA, Spain) -- Private Media Group Inc. worldwide leader in premium-quality adult entertainment products, services and Internet content today announced that it has appointed Commerzbank Securities to explore the possibility of a secondary listing in Europe.
This appointment is further to Private's May 10th press release in which Chairman and CEO Berth Milton commented: ``While last year the hyper growth from New Media was mostly reflected in profits, now it is also reflected in revenues. There's a hot demand for our new media products, which is boosting both top and bottom line, and I would like to add that we remain confident that this momentum will continue for the coming years. However, we believe that investors should keep a closer eye on us as we are constantly delivering exceptional growth and we hope that the investment community properly understands the potential of Private. Customers and media have always recognized the size and value of the Adult Entertainment Industry, but most investors still fail to do so. In order to raise awareness, we are seriously considering the possibility of a secondary listing of our Company in Europe.''
Commerzbank Securities is the fully integrated investment banking division of Commerzbank AG, one of Europe's leading banks with a strong position at the heart of the new Euro-zone. It utilizes access to Commerzbank's $463bn balance sheet (31.3.01) and, A+/Aa3/A+ long-term credit ratings from S&P, Moody's and Fitch IBCA.
The leading publicly-quoted adult entertainment company in the world, Private Media Group Inc., is the founder of the globally established brand name 'Private' and has positioned itself in the marketplace with a visionary management strategy that combines both New Economy (Internet, multimedia, e-commerce) and Old Economy (videos, magazines) business models. Maintaining a total adult lifestyle philosophy, this is reflected in the Company's broad range of products and services, both proprietary and licensed, and its strategic policies of development, diversification and acquisition.
For more info about Private Media Group, please visit the Company's corporate Web site at www.prvt.com.
This release contains, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company's current judgments of those issues. However, because these statements are forward-looking and apply to future events, they are subject to unpredictable circumstances, which could lead to results materially different from those anticipated by the Company.
For further information please contact:
Andre F. Ribeiro, Prívate Media Group, Barcelona Spain +34-679-983-772, firstname.lastname@example.org