Abrdn Property Regulatory News (API)

11 Oct 2007 07:00

API Group PLC11 October 2007 11 October 2007 API GROUP PLC APPOINTMENT OF A NEW NON-EXECUTIVE DIRECTOR API Group plc, the specialist packaging company, announced today the appointmentof Max Batzer as a Non-executive Director with immediate effect. Mr Batzer (63)is a Portfolio Manager at Wynnefield Capital, Inc. which has a beneficialinterest in 25.94% of the shares in API. Commenting on the appointment, Richard Wright, the Non-executive Chairman ofAPI, said: "We welcome Max to the Board of API and are confident that he will make anactive and positive contribution. As we have announced previously, the Group hasreceived and is presently assessing offers of financial support from its twolargest shareholders. Max's appointment to the Board will ensure that thisprocess may be completed more effectively and that we are able to explore fullywith Wynnefield Capital the ways in which it may support the Board's plans forthe future." Mr Batzer has been a Director of Cornell Companies, Inc. (a company listed onthe New York Stock Exchange) since May 2007. There is no further informationwhich is required to be disclosed under paragraph 9.6.13 of the Listing Rules. Mr. Batzer has been with Wynnefield Capital, Inc. since January 1999. From 1991to 1999 he was Chairman of the Board and CEO of Diagnostic Health Services.Prior to that, he was Director and Executive Committee member of SimmonsAirlines Inc., a publicly traded regional airline, and President of General Hideand Skin Corporation, a worldwide commodity trading organization. Ends Enquiries Richard Wright, Non-executive Chairman, API Group plc 01625 858700Tim Spratt and Nicola Biles, Financial Dynamics 020 7831 3113 This information is provided by RNS The company news service from the London Stock Exchange