SGM Restructures

	Peter Johansen and Paolo Covre

To maintain SGM as a leader of intelligent LED light, the company says further investments were needed.

After a period of disagreement between shareholders about the future capital structure, the board of directors had no other option than to apply for a proceeding aiming to restructure the company.

On November 9, at 6:00pm, SGM was completely re-established with its new shareholder and capital.

The management ascertains that SGM will continue as before without any changes -- and, as the company says "stronger than ever." All business elements remain unchanged:
- The entire team behind SGM is identical
- The worldwide distributor network is identical
- The high service and quality are identical
- All warranty commitments are identical

What changes substantially in SGM is the financial strength.

The new ownership relates to investment company, Eurofinim, whose CEO, Paolo Covre, wants to carry on SGM in the spirit created by Peter Johansen and ensures so by Johansen's continued role as CEO of SGM.

Covre states: "I have followed SGM from the sidelines for quite some time, and I find the company's visions both sensational and impressive with regards to its scope, high pace, and innovative solutions. This is the kind of company I trust and I am honored to be a part of, and it just needed a financial injection to continue and enhance its growth."

Johansen is very positive towards the new investor's wishes for SGM's future. "Paolo and I share many viewpoints and I am sure he will become a great asset for SGM. I am happy to have him on board. SGM is now stronger and more motivated than ever before. We will continue our growth, developing the innovative products we believe in. We are confident that the misleading rumors we have unfortunately incurred into will be immediately disregarded," says Johansen.