SOURCE: Private Equity Gateway Group

Private Equity Gateway Group

December 16, 2010 02:00 ET

PEGG Announces the Appointment of Ms. Elaine Harris, Current Partner With Gramercy Private Equity and Former Ernst & Young Partner, as Director on the Supervisory Board of PEGG Capital AG

ISLE OF MAN, UNITED KINGDOM--(Marketwire - December 16, 2010) - PEGG Capital AG (PEGG) (FRANKFURT: PGU), a corporate advisory, commercialization and investment group focusing in the areas of information and communication technology (ICT) and other innovative technologies, today announced the nomination of Elaine Harris to the Supervisory Board of PEGG. The Supervisory Board, which is a governance requirement under the Company's Frankfurt listing, has a primary duty and responsibility to oversee the work of PEGG's Executive Board, appoint new members and to approve significant corporate decisions and company planning.

Simon Blagden, Group Executive Chairman of PEGG, comments, "We feel very privileged to have Elaine join the Supervisory Board. It is a very important role and she brings such an enormous wealth of knowledge with her risk management, governance, finance, technology and international experience."

Ms. Harris is a Partner with Gramercy Private Equity and Gramercy Venture Advisors. She also serves on the Board of Directors of several early-stage technology companies. As a former Partner of Ernst & Young, Ms. Harris brings over 27 years of risk management, technology and governance and compliance experience. She is currently based in London, where she has resided for the past 5 years. Previously, Ms. Harris was based in Tokyo and provided senior client management insight in her various areas of expertise. 

Ms. Harris has served in various leadership roles at Ernst & Young in the United States, Asia and Europe. Throughout her career, she has gained extensive global experience in the media and entertainment, technology, telecommunications and consumer products industries.

"I am honored to be appointed to this important role," stated Ms. Harris. "Given the Company's technology focus, merger and acquisition expertise, and international scope, I look forward to contributing my insight. I anticipate my experience in international business, technology, and regulatory affairs can add significant value to the growth process of both the Company and its portfolio."

About PEGG Capital AG
PEGG Capital AG (PEGG) is a Frankfurt-listed, publicly-traded investment and advisory group specializing in investing in information communication, telecommunications and other innovative technologies. PEGG identifies portfolio companies that adhere to specific fundamentals and business criteria to enhance shareholder value for PEGG and its shareholders. PEGG covers a broad range of opportunities focused on translating innovative projects into commercial reality through funding support, hands-on assistance, and leveraging cross-border opportunities. PEGG is headquartered in the Isle of Man with operations in New York, San Francisco & Beijing, through its Gramercy interests, and satellite offices in London and Melbourne.

Cautionary Note Regarding Forward-Looking Statements: This press release may contain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. We caution you therefore against relying on any of these forward-looking statements. Factors that could cause actual results to differ materially from such statements, as well as additional risk factors, are detailed in the Company's most recent filings with the Securities and Exchange Commission. Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking information contained in this press release or with respect to the announcements described herein, except as may be required by law.

Contact Information

    PEGG Corporate Contact Information
    Mr. Michael Gale
    Tel: 415-378-7364
    Mr. David Daniel
    Managing Director
    Tel: +44 (0) 7624 350 484
    Private Equity Gateway Group (EU) Ltd.
    (IoM registered Co. # 123009C)
    11 Hope Street Douglas
    Isle of Man, British Isles IM1 1QD

    PEGG Capital AG:
    (German Registered Co. # HRB 67740)
    Stock Code "PGU"
    Aachener Strasse 619
    50933 Cologne Germany

    Cooper Global Communications, LLC
    Mr. Richard E. Cooper

    Ms. Jennifer K. Zimmons, Ph.D.
    Managing Director
    Tel: 212-317‐1400