Abrdn Property Regulatory News (API)

20 Mar 2008 14:53

API Group PLC20 March 2008 20 March 2008 API Group plc Board Change API Group plc announced today that Andrew Robertson is to resign as GroupFinance Director with immediate effect and will be leaving the Company at theend of April 2008. The Company has initiated the search for a replacement andagreed the appointment of an interim head of finance to cover the interveningperiod. Richard Wright, Non-Executive Chairman, said: "Andrew played a key role in the Open Offer which successfully raised £8m of newfunds from shareholders in January of this year. The Group is now focusing onimproving its trading results and on cost reduction, including concentrating itscentral management team at its office in Poynton. Andrew has therefore decidedto pursue opportunities elsewhere. The Board would like to thank him for hiscontribution and to wish him well for the future. Meanwhile, the Company is on track with its cost reduction program and the earlystages of its plan to turn around the performance of its European businesses." Ends Enquiries Andrew Turner, Group Chief Executive Officer, API Group plc 01625 858700 Tim Spratt / Nicola Biles, Financial Dynamics 020 7831 3113Nick Westlake, Numis Securities Limited 020 7260 1000 This information is provided by RNS The company news service from the London Stock Exchange