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Technology Stocks : Plaintree (TSE:LAN,NASDAQ:LANPF)
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To: Charles Skeen who wrote (1452)2/24/1999 4:44:00 PM
From: Bron-y-aur  Read Replies (2) of 1606
 
Latest:
Guess no hope now with an accountant left to run the shop.
See you at the garage sale.

FEBRUARY 24, 1999Plaintree Systems Appoints Interim CEO - Board of
Directors accepts resignation of CEO Colin Beaumont
OTTAWA, ONTARIO--Plaintree Systems Inc. (NASDAQ: LANPF/ TSE: LAN)
announced today that the Company's Board of Directors has accepted
with regret the resignation of Colin Beaumont as CEO. Jay
Richardson, a chartered accountant with broad international
experience as a partner in Clarkson Gordon, Arthur Young Singapore
and KPMG U.K. has been brought in as Interim CEO to lead the
ongoing restructuring of the corporation and the search for an equity partner.
Mr. Beaumont will continue as a director, and will function as
Plaintree's Chief Technology Officer.
A publicly held company founded in 1988, Ottawa-based Plaintree
Systems develops and sells LAN switching solutions, maintaining a
reputation for high quality products and technical support.
This press release may include statements that are forward looking
and based on current expectations. The actual results of the
Company may differ materially from current expectations. The
business of the Company is subject to many risks and
uncertainties, including changes in markets for the Company's
products, delays in product development and introduction to
manufacturing and intense competition. For a more detailed
discussion of the risks and uncertainties related to the Company's
business, please refer to documents filed by the Company with the
SEC and Canadian regulatory authorities, including the Company's
prospectus dated May 20, 1997.
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