CPPGroup plc (CPP or the Group), the international assistance business, is pleased to announce that, following receipt of regulatory approval, Michael Corcoran has been appointed Chief Financial Officer and a Director of the Group.
Michael has more than 20 years' experience in senior finance roles in regulated financial services businesses and served as the International CFO for Franklin Templeton Investments, a listed global investment management business operating in 35 countries.
Roger Canham, Non-Executive Chairman, commented: "The Board is delighted that Mike has agreed to join CPP and that we have been able to secure someone of his calibre. I look forward to Mike making a significant contribution as we continue to make encouraging progress with our strategy to drive the Group's turnaround."
CEO, Stephen Callaghan, commented: "I look forward to Mike's continued contribution towards CPP's strategic development as we move the firm towards our objective of becoming the international assistance business of choice. His strong business and regulatory background is exactly what CPP needs of its new CFO."
After the excitement last month when the SP jumped about crazily(for CPP anyway), its now back to the usual humdrum daily trading.Will stay that way, until the company has its VVOP lifted, if its EVER lifted by the regulators!!! Until that happens the company will not be allowed to trade new business in the UK+will steadily lose current contracts as they lose business with people going elsewhere looking for deals, when contracts come up for renewal.Not a healthy situation, I'm sure you'll all agree.The sooner this block is lifted+the company is allowed to trade normally again, the better for all the investors concerned.
My understanding (and it's only a vague understanding) is that the vvop will only be lifted when the directors provide personal guarantees to the regulators that what happened before can't ever happen again. However, the directors either can't or won't give those personal guarantees at the moment nor until systems (computer & other) are in place that make them feel 'comfortable' being held personally liable & responsible for any future mis-selling activity.
After almost 3 years I'm out. Got back the money I have invested and bought OCDO where upcoming licensing deal should boost the sp. I believe that CPP have the potential so I will probably buy again in few months time.. By EQ
Everything happens in the last 10 minutes of the day regarding price movement.Up 0.500,down 0.250, down 0.125+up 0.125. All in the last 10 minutes.Will be like this every day for months until the VVOP is lifted, whenever that is!!! No need for anyone to get excited with CPP SP hike until this restriction on trading is lifted.Could be months, or even years.Hey ho.Just another typical day in the life+times of CPP .
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