Last checked at 30 Oct 2008 07:00
Date: 30 October 2008
On behalf of: Boomerang Plus plc ("Boomerang", "the Group" or "the Company")
Embargoed until: 0700hrs
Boomerang Plus plc
Board Change
Boomerang Plus plc (AIM: BOOM.L), a profitable and vertically integrated, multi-genre, independent television production group operating within the Nations and Regions, is pleased to announce the appointment of Richard Huntingford as Non-Executive Chairman with immediate effect. Roger Moore will remain on the Board as an independent Non-Executive Director.
Richard, 52, was CEO of Chrysalis Group plc from December 2000 until September 2007, having joined as Corporate Development Director in June 1987. At Chrysalis he was responsible for building the company into a broadly-based media group with significant radio, television and music businesses. During this period, Chrysalis Television become a leading producer of drama, entertainment, factual and sports programming, with flagship shows such as Midsomer Murders, Richard and Judy, Top Ten, F1 and Football Italia, prior to its sale to All3Media in August 2003. Richard founded Chrysalis Radio in 1993 which he developed into one of the leading brand-led radio groups with its successful Heart, Galaxy and LBC stations prior to its £170 million sale to Global Radio in July 2007. From September 2007 Richard was Executive Chairman of Virgin Radio until its acquisition by Times of India in June 2008. Richard qualified as a Chartered Accountant with KPMG and has over 20 years of experience at PLC Board level in the media industry.
Commenting, Huw Eurig Davies, CEO of Boomerang, said:
"On behalf of the Board, I would like to thank Roger for his contribution to Boomerang and in particular with his significant involvement in the Company's admission to AIM. We welcome his continued support as a Non-Executive Director on the Board.
"We are delighted to welcome Richard to our Board. He has an impressive track record and brings a wealth of media experience with him which will be a valuable addition to the Company. The Group is at an exciting stage in its development and we believe Richard's experience will make a substantial contribution to our next phase of development as the Group continues to grow."
Richard Huntingford, New Non-Executive Chairman of Boomerang, added:
"I am thrilled to have joined Boomerang at such an exciting stage in its development. The Company has enjoyed strong growth over the last year and published a very positive set of preliminary results last week. With a strong balance sheet and proven and ambitious management and staff, the Company is in an excellent position to capitalise on the considerable opportunities within the changing media marketplace."
Richard Norman Legh Huntingford has previously held the following directorships during the last five years:
| Current Directorship | Date |
| RNLH Consulting Limited | 25 Sept 2007 |
| Past Directorships | Date |
| AIR Overworld Limited | 1994 - 2007 |
| AIR Records Limited | 1994 - 2007 |
| Air Studios (Lyndhurst) Limited | 1990 - 2006 |
| Chrysalis Digital Radio Limited | 2000 - 2007 |
| Chrysalis Group plc | 1987 - 2007 |
| Chrysalis Holdings Limited | 1990 - 2007 |
| Chrysalis Limited | 1997 - 2007 |
| Chrysalis Mobile Solutions Limited | 2004 - 2007 |
| Chrysalis New Media Investments Limited | 2001 - 2007 |
| Chrysalis Picture Library Limited | 2000 - 2007 |
| Chrysalis Radio Holdings Limited | 2002 - 2007 |
| Chrysalis Radio Limited | 1995 - 2007 |
| Chrysalis Radio London Limited | 1993 - 2007 |
| Chrysalis Retail Entertainment Limited | 1993 - 2007 |
| Chrysalis Television Mobiles Limited | 1996 - 2007 |
| Faze Three (East Midlands) Limited | 1997 - 2007 |
| Galaxy Radio Limited | 1994 - 2007 |
| Golden Square Networks Limited | 2007 - 2008 |
| Heart TV Limited | 1998 - 2007 |
| Puremix Limited | 2000 - 2007 |
| Radiocentre Limited | 2007 - 2008 |
| Rivals Europe Limited | 2000 - 2007 |
| Rojo Leisure Limited | 1999 - 2007 |
| Salamander Books Limited | 1999 - 2005 |
| SMG Digital Radio Limited | 2008 - 2008 |
| The Clean Car Company Limited | 1988 - 2005 |
| The Echo Label Limited | 1993 - 2007 |
| Virgin Mobile Holdings (UK) plc | 2005 - 2006 |
| Virgin Radio Holdings Limited | 2007 - 2008 |
| Virgin Radio Limited | 2007 - 2008 |
| Washworks (MK) Limited | 1992 - 2005 |
Mr. Huntingford has confirmed that no further disclosures are required under Schedule 2 paragraph (g) of the AIM Rules.
- Ends -
For further information, please contact:
| Boomerang Plus plc | Via Redleaf Communications |
| Huw Eurig Davies, Chief Executive | |
| Mark Fenwick, Finance Director | |
| Richard Huntingford, Non-Executive Chairman | Tel: 07802 793 444 |
| Altium Capital Limited | |
| Tim Richardson / Melanie Szalkiewicz | Tel: 020 7484 4040 |
| Redleaf Communications | Tel: 020 7822 0200 |
| Sanna Sumner/ Anna Dunkin | boomerang@redleafpr.com |
Notes to Editors:
The Group, founded in 1994, has extensive experience in producing content in a variety of genres, including youth programming, music, entertainment, children's programming, extreme sports and drama
The Group has good revenue visibility as a high proportion of its budgeted revenue is contracted with broadcasters
The market for independent television production companies in the Nations and Regions has grown following quotas from the regulator Ofcom, which require that, depending on the broadcaster, between 10 per cent. and 50 per cent. of qualifying programming hours must be sourced from outside the M25 boundary
Boomerang is ranked in the top five independent television production companies, by revenue, in the Nations and Regions according to the Broadcast Survey (Nations and Regions) 2007
The Board's strategy is both to achieve strong organic growth by leveraging the Group's existing customer base coupled with strategic acquisitions, with a view to becoming a major supplier to UK networks looking to satisfy their Nations and Regions quotas
Boomerang is well placed to lead the consolidation of regional independent production companies across the UK. Target companies which meet the acquisition criteria will have a strong track record, which will assist the Group to grow further, outside Wales