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Latest Satellite News Discussion, Info Kofler faces Premiere charge at General Satellite News forum; Kofler faces Premiere charge Former Premiere executives Georg Kofler and Michael Brnicke face charges of investment fraud and insider trading. ...

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Thumbs up Info Kofler faces Premiere charge - 19-May-2009, 11:40

Kofler faces Premiere charge

Former Premiere executives Georg Kofler and Michael Brnicke face charges of investment fraud and insider trading. A Munich-based shareholder protection group (SdK) says investors were misled over the number of subscribers held by the pay-TV platform.

In February 2007 with Premiere claiming an installed base of 3.4 million, and a share price close to 17, Kofler sold shares worth 185 million and Brnicke 6 million.

It was only after the arrival of new CEO Mark Williams that in October 2008, Premiere revised its numbers downwards to 2.4 million, and its shareprice tumbled. On Friday Premiere closed on 1.87 from its 52-week low of 1.29.


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