Noted Kazakhstan Business Leader, Kenges Rakishev, Acquires $32 Million in
Net Element Stock, Appointed to the Company’s Board of Directors
Rakishev, Chairman of the Board of SAT & Company, Invests in Net Element, a
South Florida-Based Technology Services Provider and Internet Publisher
MIAMI -- May 01, 2012
Net Element(OTCQB: NETE), a technology services provider and Internet
publisher, and SAT & Company (KASE: SATC), a diversified metallurgical holding
company with headquarters in Kazakhstan, today announced the appointment of
Kenges Rakishev, a noted Kazakhstan business leader, to NETE’s board of
directors following his acquisition of $32 million in NETE stock.
Specifically, $2 million was invested into NETE in on February 24, and the
remaining $30 million of shares was acquired from an existing shareholder on
Rakishev, chairman of the board of directors at SATC and an investor with
multiple business interests worldwide, said he selected NETE because he
recognized the potential of the company’s technological innovation and its
pending patents for 3D provisioning and mobile app technologies.
“After evaluating numerous other tech investment opportunities, I was
impressed with Net Element’s innovative 3D, mobile and multi-media
technologies as well as the company’s momentous deal flow in emerging growth
markets,” Rakishev said. “I’m excited to support Net Element’s continued
innovation with a view to solidifying bigger and broader strategic alliances
with the world’s leading tech players.”
Added Richard Lappenbusch, NETE’s president and chief operating officer: “We
are honored and grateful to have Kenges Rakishev invest his time and resources
into Net Element, and we are confident he will bring tremendous value on many
levels to our board and our company. His international business leadership and
relationships, combined with his extensive knowledge and unique perspectives
of global business opportunities, will help further solidify our company’s
continued expansion into new and emerging growth markets.”
NETE and the existing shareholder were represented by Bilzin Sumberg Baena
Price & Axelrod.
About Net Element (OTCQB: NETE)
Net Element (OTCQB: NETE) is a global publisher of online destinations and
business services on a custom technology platform for Internet and mobile
distribution. This platform enables the rapid development, production and
distribution of rich media content (HD & 3D), services (SaaS) and branded
content in entertainment and news. NETE owns and publishes Internet properties
and creates social and business communities in motorsports, music, film and
entertainment. Its portfolio includes: www.Motorsport.com; www.Openfilm.com;
www.music1.com; www.ARLive.com; and www.Yapik.com. For more information, visit
Editor’s Notes: A photograph of Kenges Rakishev is available upon request.
Interviews may be coordinated upon request.
For Net Element
Nicole Kasak and Tyler Sminkey, 305-403-2080, Ext. 110 and 114
firstname.lastname@example.org and email@example.com
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