BPTY.L Regulatory News (BPTY)

13 Dec 2007 10:29

PartyGaming Plc13 December 2007 13 December 2007 PartyGaming Plc ("PartyGaming" or the "Company") Board Appointments PartyGaming, the world's leading listed online gaming company, announces theappointment with immediate effect of Stephen Box, John Davy, Emilio Gomez andLord Moonie to the Board of PartyGaming as non-executive directors. Lord Moonie and Stephen Box have been recruited following a process conducted bythe Nominations Committee, with the assistance of a third-party search andselection consultancy, to appoint two additional independent non-executivedirectors to the Board. Lord Moonie, aged 60, became a Life Peer in 2005 after being the Member ofParliament for Kirkcaldy between 1987 and April 2005. He had responsibility forscience and technology when he was Parliamentary Under Secretary for State atthe Ministry of Defence between January 2000 and June 2003. Before becoming anMP, he studied medicine and was a consultant in public health medicine, a seniormedical adviser and clinical pharmacologist in the pharmaceutical industry. LordMoonie is also a non-executive director of AEA Technology Plc. Stephen Box, aged 57, is a qualified chartered accountant and worked for Coopers& Lybrand for more than 25 years, of which he spent 15 years as a corporatefinance partner. He is currently the senior independent director and chair ofthe audit committee of Michael Page International plc. He is also non-executivedirector of Thames Water Utilities Limited and Wales & West Utilities Limited.Mr Box is a member of the Financial Reporting Review Panel. From August 1997 toOctober 2002 he was Finance Director of National Grid, a FTSE 100 company. Lord Moonie and Stephen Box are regarded by the Board as being independentnon-executive directors. Also announced today and in accordance with the terms of a relationshipagreement entered into at the time of the Group's IPO in June 2005, Ruth Parasoland Russell DeLeon, who together retain an interest in 28.43% of PartyGaming'sissued share capital, have nominated John Davy to act as their representative onthe Board of PartyGaming Plc whilst Anurag Dikshit, who retains an interest in27.66% of PartyGaming's issued share capital, has nominated Emilio Gomez as hisrepresentative on the Board. John Davy, aged 52, has created and built a series of successful businessesduring the last 25 years. He co-owned and developed Jongleurs Comedy Clubsbefore selling the UK franchise in August 2000. Mr Davy retains the Jongleursbrand intellectual property rights. He remains non-executive Chairman ofJongleurs Comedy Limited, a diversified leisure business whose interests includetelevision and corporate hospitality. Mr Davy is also chairman of Mentor InnsLLP, which owns and operates freehold public houses in the UK. Emilio Gomez, aged 58, is a chartered certified accountant and until he retiredin June 2007 he was joint senior partner of Baker Tilly Gibraltar. Formerly hewas senior partner at KPMG Gibraltar, Chairman of the Gibraltar InsuranceAssociation, and President of the Gibraltar Society of Chartered and CertifiedAccountancy Bodies. He is currently Chairman of the Gibraltar Finance CentreCouncil. Following these appointments, the composition of the Board of PartyGamingremains compliant with the Combined Code on Corporate Governance. Commenting on today's Board appointments, Michael Jackson, Chairman ofPartyGaming, said: "I am delighted to be announcing today's appointments. Stephen Box's financialbackground and Lord Moonie's experience in the political and technology arenaswill be valuable additions to the Board. The Board is also looking forward toworking with both John and Emilio, who between them have considerable experienceacross the leisure and financial services sectors that will be of benefit toPartyGaming and its shareholders." Contacts: PartyGaming Plc +44 (0)20 7337 0100Peter Reynolds, Director of Investor RelationsJohn Shepherd, Director of Corporate Communications Financial Dynamics +44 (0)20 7831 3113Edward Bridges / Juliet Clarke Additional information: Stephen Box was a Non-Executive Director of Energis Plc as part of his role atNational Grid, the principal shareholder of that company. Energis Plc went intoadministration on 16 July 2002. John Davy was a director of Lipmark Limited which entered creditors' voluntaryliquidation on 12 April 1985 and was dissolved on 19 January 1991. He was alsoa director of Spartanaid Limited which entered creditors voluntary liquidationon or about 14 March 1986 and was dissolved on 14 November 1992 There are noother disclosures to be made under Listing Rule 9.6.13 for Mr Davy. There are no disclosures to be made under Listing Rule 9.6.13 in respect of LordMoonie and Emilio Gomez. PartyGaming was founded by, amongst others, Ruth Parasol, Russell DeLeon andAnurag Dikshit, and these appointments are being made under the terms of therelationship agreement entered into at the time of the Company's IPO in June2005 by, amongst others, PartyGaming, Ruth Parasol, Russell DeLeon and AnuragDikshit. Under the terms of this agreement, provided that Ruth Parasol andRussell DeLeon collectively maintain an interest in 15% or more of PartyGaming'sissued share capital, they are entitled to nominate an individual forappointment as a non-executive director to the PartyGaming Board. Under thesame agreement, Anurag Dikshit is similarly entitled to nominate one individualfor appointment as a non-executive director to the PartyGaming Board provided hemaintains an interest in 15% or more of PartyGaming's issued share capital. This information is provided by RNS The company news service from the London Stock Exchange