Sunday, April 6, 2008

SIM Joint Venture is ending

The successful Joint Venture between DDE and Sienkiewicz Investment Management (SIM on the WSE) is going to be winding down over the next little while. Pablo Sienkiewicz and I ran three sims together (actually two full sims and 4 openspaces), and all were profitable. Pablo and I have decided to end the joint venture. We have "swapped" two of the sims, each taking ownership of one, and SIM will buy out the remaining interest in the last sim in the coming weeks. As part of this overall deal - I will be transferring my shares in SIM to Pablo, and a request to that effect has been sent to the WSE.

In addition, I will no longer have a position on the Board of SIM.

I want to thank Pablo and SIM for the opportunity, and for working with DDE to develop a successful partnership, out of which both companies profited. I want to make it clear that the dissolution of this partnership is in no way a negative comment on SIM. SIM is a profitable and well-run company, and I wish Pablo the best of luck and success. Our companies are simply moving in different directions now, and with DDE's delisting from the WSE, this seemed the best course of action.

dd

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