(Alliance News) - Auctus Growth PLC said Friday that Director Charles Cannon Brookes has resigned from the board with immediate effect.
The company also announced the appointment of Ross Ainger to the board, effective immediately.
Auctus said Ainger worked at Arlington Group Asset Management Ltd for the past thirteen years, and was, until recently, and executive director of the company.
He previously worked at Deutsche Bank AG and Merrill Lynch Investment Managers prior to joining Arlington in 2006.
Auctus said Ainger has co-managed IPO and RTO transactions on the London markets and will play a key role in managing any acquisitions made by the company.
Malcolm Burne, chair, said: "Whilst none of the targets assessed to date have met the board's investment criteria Charles has worked extensively on the analysis and corresponding negotiations of a significant number of potential transaction."
"At the same time, I welcome and look forward to working with Ross on the Auctus board and to gaining the benefit of his extensive experience," Burne said.
Back in October, Auctus had reported a widened pretax loss of GBP19,388 in the six months to June 30, from GBP12,573. This was due solely to operating expenses, as it reported no net trading income of any kind during the half.
Auctus shares were untraded in London on Friday, last quoted at 30.50 pence each.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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