(Alliance News) - Best of the Best PLC on Wednesday appointed Charles Butler as its non-executive chair, following Globe Invest Ltd's acquisition of a 30% interest in the London-based operator of weekly online raffle competitions.
Butler will succeed David Firth as chair, who will remain on the board as an independent non-executive director.
Currently, Butler is a partner at Belerion Capital, a private equity firm specialising in e-commerce and technology. He is also chair of Highcroft Investments PLC, an England and Wales-focused real estate investor.
Previously, Butler was chief executive of Market Tech Holdings PLC, a property and digital technology group which he led from a successful AIM initial public offering through to its takeover. He was also a group CEO at NetPlay TV, an interactive gaming company.
Earlier this month, Best of the Best signed a non-binding letter of intent with Globe Invest.
The duo entered into licensing and distribution agreement, as well as marketing and collaboration pact. Best of the Best will exclusively license to Globe its business model, concept and related services to non-UK territories. In addition, Globe acquired a 30% strategic interest in Best of the Best.
"In-line with that share purchase Charles has been appointed to strengthen the board and help advise the company on its next stage of growth," the company explained.
Chief Executive William Hindmarch said: "Following on from GIL's investment, we are pleased to welcome Charles to the board as non-executive chair. His significant experience in the sector and track record of delivering shareholder value will be invaluable as we grow the business in the UK and internationally."
Shares in the company were down 2.9% to 398.00 pence each in London on Wednesday around midday.
By Sophie Rose; sophierose@alliancenews.com
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