COPENHAGEN, DENMARK and DALLAS, April 14, 2000 (PRIMEZONE) -- Olicom A/S (Nasdaq:OLCMF) ("Olicom" or "the Company") today announced that it has appointed Lars Eskesen as new Chairman for its Board of Directors. From 1990 to 1998, Lars Eskesen served as Deputy Chairman of the Management Board of Unibank A/S and today serves on the board of directors of a number of finance companies. The Board of Directors also comprises Ralf Egede Andersen (Deputy Chairman), Tim Frank Andersen, Kriss Damon, Monica Graham, Eric K. Horten and Boje Rinhart.
The Company also appointed Boje Rinhart as its new Chief Executive Officer effective immediately. As previously announced, Lars Larsen, Chief Financial Officer, will resign by the end of April.
During the period from 1995 to February 1999 Boje Rinhart was the Company's Chief Financial Officer. Since he left this position, he has acted as advisor to the Company's board of directors with regard to the divestiture of activities as well as with regard to possible future business opportunities.
Further, the Company today decided to appeal Nasdaq's decision to delist its common shares. The Company expects that it will take some months before a decision on its appeal has been reached.
About Olicom
More information on Olicom is available from the Company's SEC filings or by contacting the Company directly. See Olicom news on its Web site at http://www.olicom.com
Olicom is a registered trademark.
Except for historical information contained herein, the matters discussed in this news release may contain forward-looking statements, involving risks and uncertainties that may cause actual results to differ materially. Among the factors that could cause results to differ are uncertain market conditions, uncertainty to the actual materialization of revenue and income related to the 1999 Transactions, and any implementation of a new strategy in connection with the election of a new Board of Directors and the subsequent appointment of a new management team. Further information may be found in Olicom's periodic filings with the US Securities and Exchange Commission (SEC), including the most recent reports on Form 20-F and 6-K, which identify important risk factors related to the Company's business that could cause actual results to materially differ from those contained in the forward-looking statements.