Bonn Edward J, et al. – ‘SC 13D/A’ on 5/20/02 re: New Frontier Media Inc – EX-11

On:  Monday, 5/20/02, at 5:15pm ET   ·   Accession #:  950133-2-2069   ·   File #:  5-54889

in

this entire Filing. an “Entity” Search.

Show

Documents searched

and

each “hit”. the 1st “hit”.

↓↑Hints

Amendment to General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment No. 4 to Schedule 13D                        3     14K 
 2: EX-11       Press Release Issued May 16, 2002                      3     11K 

EX-11   —   Press Release Issued May 16, 2002

EX-11
1st Page of 3
TOC
↑Top
Previous
Next
↓Bottom
Just 1st
 
NEW FRONTIER MEDIA'S LARGEST SHAREHOLDER NAMES FIVE 
DIRECTOR NOMINEES TO PROPOSED SLATE OF DIRECTORS

Distinguished Business Leaders Will Provide Experience, Guidance and
Direction to New Frontier 

BOULDER, CO, May 16, 2002 - Edward Bonn, the largest shareholder of New Frontier
Media (Nasdaq: NOOF), announced today the five initial director nominees for the
slate of directors to be recommended to the shareholders of New Frontier at the 
Special Meeting of Shareholders by Mr. Bonn. The five nominees proposed by Mr.  
Bonn are: Carlton Jennings, Stephen Peary, Jerry Rubinstein, Bernard Stolar and 
Edward Bonn.                                                                    

   Carlton Jennings has over 15 years of experience in international
     operations, communications technology and finance. He is the CEO of
  Quadrant Ltd (an Australian based telecommunications company), a
         director of a private global telecommunications fund and the former CEO
         of South Pacific Iridium (an Asian-Pacific satellite and multi-protocol
        wireless roaming telecommunications operation). Carlton has held other
    senior and advisory positions working with the Japanese Government
(joint maritime economic zone surveillance), US Government    
       (international program manager in Washington DC and Iceland) and with
        the New Zealand Government (economic protection maritime programs). He
       holds a BS from the United States Naval Academy, an MA (International
Relations) from Georgetown and Catholic University, and an MA 
(International Public Policy) from Johns Hopkins University.  

      Stephen Peary brings international experience that spans 15 years in
        executive and crisis management, including extensive worldwide finance
         experience. He is the founder and CEO of ThirdOrbit Insurance Solutions
(a market-first provider of e-commerce property and liability 
       insurance), former CEO of Liverpool & London Steamship Protection and
        Indemnity Association (mutual marine insurance) and former Senior Vice
  President of PLM International (a publicly traded transportation
       equipment leasing company). Stephen also has previously practiced law
       and headed the organized crime unit for the New England region of the
Internal Revenue Service. He holds a BA from the University of
         Illinois-Champaign, JD from the Georgetown University Law Center and an
LLM (Taxation) from Boston University.                        

1 

EX-11
2nd Page of 3
TOC
1st
Previous
Next
↓Bottom
Just 2nd
        Jerry Rubinstein brings extensive experience in the music distribution
     business. He is the current founder and Chairman of Music Imaging &
        Media Inc. (a background and foreground music service) and the founder
  and former Chairman and CEO of XTRA Music LTD. (a distributor of
        digital music throughout Europe, the Middle East and the former Soviet
      Union, which was sold to DMX/Liberty Digital) and founder and former
         Chairman and CEO of DMX, Inc. (digital music service, which was sold to
 TCI). Jerry also has held positions as a founder of a financial
institution as well as with other prior ventures in the music 
      distribution industry. He is a CPA and lawyer holding a BA from UCLA
and a JD from the Loyola School of Law.                       

Bernard Stolar has extensive experience in the interactive    
     entertainment industry, with a variety of public and privately held
    companies. He was recently appointed to serve as president of BAM!
Entertainment. Bernie's career includes extensive operations  
   experience, with a particular emphasis on sales and marketing and
product development. He was hired as the President of Mattel  
      Interactive in 2000 to reorganize and sell this organization with $1
        billion in sales. At Sega of America, he reorganized and implemented a
       plan (including the launch of Dreamcast) that resulted in a five-fold
        increase in Sega of America's revenues. As Executive Vice President of
      Sony Computer Entertainment of America, he was part of the team that
   launched Sony Playstation (taking Sony from no revenue to over $1
billion during his tenure). Bernie also has experience in the 
publishing business.                                          

      Edward Bonn is New Frontier's largest shareholder and the founder of
    I-Gallery and two other related entities that were acquired by New
    Frontier in 1999. Edward has been a director of New Frontier since
        October 1999 and served as president of New Frontier Media from August
    2000 until June 2001. He formerly has served as the Co-Chairman of
   Independent Entertainment Group (a service bureau and information
       provider), founder and President of ICOM Group (an audio text service
       bureau that specialized in automated credit card processing and fraud
         control procedures) and the founder and President of Response Telemedia
         (an 800/900 information and entertainment company). Edward attended the
         University of Oregon with a focus in International Studies and attended
business and accounting classes at UCLA.                      

"I am proud to have developed a slate of candidates with the business experience
of Carlton, Jerry, Stephen and Bernie, and I am pleased to offer the opportunity
for the shareholders to consider them as directors of New Frontier. These       
individuals will add a level of experience and objectivity that New Frontier    

2 

EX-11
Last Page of 3
TOC
1st
Previous
Next
↓Bottom
Just 3rd
has not previously enjoyed," stated Edward Bonn. "Over the next few weeks I plan
to announce the two remaining director nominee positions" continued Bonn.       

"As I have previously announced, I am not seeking to be the CEO of New Frontier 
and believe that the new directors drawn to this opportunity will do an         
excellent job in recruiting a CEO and team that will enhance shareholder value,"
stated Bonn.                                                                    

Mr. Bonn owns approximately 19% of the outstanding shares of New Frontier, which
were acquired in 1999 in connection with New Frontier's acquisition of its      
Internet operations. Mr. Bonn is currently a director of New Frontier Media.    

Acclaim Financial Group LLC is serving as strategic advisor to Mr. Bonn and     
Brobeck, Phleger & Harrison LLP is serving as his legal counsel.                

MR. BONN HAS FILED A PRELIMINARY PROXY STATEMENT WITH THE SECURITIES AND        
EXCHANGE COMMISSION RELATING TO THE SOLICITATION OF PROXIES FROM THE            
SHAREHOLDERS OF NEW FRONTIER MEDIA FOR USE AT A SPECIAL MEETING OF NEW FRONTIER 
MEDIA SHAREHOLDERS. MR. BONN STRONGLY ADVISES ALL NEW FRONTIER MEDIA            
SHAREHOLDERS TO READ THE DEFINITIVE PROXY STATEMENT WHEN IT IS AVAILABLE BECAUSE
IT WILL CONTAIN IMPORTANT INFORMATION. THE PRELIMINARY PROXY STATEMENT IS       
AVAILABLE AT NO CHARGE ON THE SEC'S WEBSITE AT HTPP:\\WWW.SEC.GOV. INFORMATION  
RELATING TO THE PARTICIPANTS IN MR. BONN'S PROXY SOLICITATION IS CONTAINED IN   
THE PRELIMINARY PROXY STATEMENT, EXCEPT THAT EACH OF THE NOMINEES (OTHER THAN   
MR. BONN) NAMED IN THIS PRESS RELEASE MAY BE DEEMED TO BE PARTICIPANTS IN MR.   
BONN'S SOLICITATION AND HAVE NO INTEREST (OTHER THAN MR. PEARY WHO HOLDS 1,000  
SHARES OF NEW FRONTIER MEDIA COMMON STOCK) IN NEW FRONTIER MEDIA.               

3 

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘SC 13D/A’ Filing		Date		First		Last			Other Filings
Filed on:		5/20/02
		5/16/02		1					DFAN14A
									List all Filings