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Photon Energy announces the appointment of a new Chief Operating Officer

09-03-2010

The management board of Photon Energy a.s. announces that on 8 March 2010 the company appointed Tomáš Vaník as its new Chief Operating Officer.

Mr. Tomáš Vaník, age 46, is a graduate of the Prague School of Economics.

Mr. Vaník joins Photon Energy after having served as the Chief Financial Officer and member of the Board of Directors of Asseco Czech Republic a.s. (and its corporate predecessor PVT a.s.) since 1996. His previous professional career included the position of Chief Financial Director and Board of Directors membership with Plzenska banka (1993-1995) where treasury, assets and liability management and operational and strategic planning ranked among his main duties. In the years 1987-1992 he held various positions within the financial management of Škoda Works, Plzen, where his responsibilities ranged from working capital management to heading the department managing subsidiaries and the preparation of joint ventures with prospective partners.

Mr. Vaník has completed courses in financial management, human resources management and marketing at the University Central Florida and courses on financial management, retail banking and project management at Strathclyde Graduate Business School in Glasgow.

Mr. Vaník conducts no activities outside of the issuer that are of a competitive nature and he has no entry in the Bankrupted Debtors registry.

The management board of Photon Energy a.s. views this appointment as a crucial step as the company has grown from its formation in early 2008 to 32 staff as of 1 March 2010 and as the company remains committed to a continued expansion to international markets with a particular focus on Slovakia, Italy and Germany in 2010. The growing size, scope and complexity of Photon Energy's business activities requires the introduction of functioning processes and procedures. Photon Energy's management is aware of the pressures on the organization exerted by the rapid growth of the company's business and therefore decided to appoint a seasoned manager with extensive experience in larger organisations than the company's current size. Mr. Vaník's key tasks will include the completion of the already initiated ISO certification process for the Photon Energy group companies and the management of all operational functions including IT, human resources, legal, compliance and risk management.

Legal basis: § 3 ust.2 point 11 of the Appendix 3 to Resolution No. 733/2009 of the Warsaw Stock Exchange Management Board dated 18 December 2009 “Current and Periodical Information in the Alternative Trading System"

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