COPENHAGEN, Denmark, May 16, 2001 (PRIMEZONE) -- Olicom A/S' (OTCBB:OLCMF) ("Olicom' or "the Company') Board of Directors announced today that Tim Frank Andersen, Director of the Company, has decided not to stand for re-election to the Board at Olicom's ordinary general meeting this afternoon at 3:00 p.m.
As announced in a separate press release today, the decision is due to Tim Frank Andersen entering into closer cooperation with another company.
Olicom's Board of Directors hereafter proposes, that solely, the remaining six Directors be re-elected at the ordinary general meeting.
About Olicom
Olicom initiates or participates in the development of new products and services that leverage leading-edge communications technologies, primarily with a focus on satisfying the needs of mobile data communication users. Business opportunities are identified both through Olicom's internal research and through the solicitation of ventures with start-up companies, which are offered seed and venture financing and access to the Company's established business network and infrastructure. More information about Olicom is available from the Company's SEC filings or by contacting the Company directly. Information is also available on the Company's Web site at www.olicom.com.
Olicom is a registered trademark.