Character Regulatory News (CCT)

22 Aug 2006 07:01

Character Group PLC22 August 2006 Issued by Citigate Dewe Rogerson Ltd, BirminghamDate: Tuesday, 22 August 2006 Embargoed: 7.00am The Character Group plc ("the Company" or "the Group") Designers, developers and distributors of toys, games and gifts Trading Update and Board Changes Statement by Richard King, Executive ChairmanI am delighted to announce that the Board now expects a very satisfactory finishto the financial year ending 31 August 2006. Trading for the key month of Augusthas been particularly strong and is likely to result in the Group exceedingmarket expectations. In order to comply both with "Best Practice" and to take a positive step towardssuccession planning as well as the general development of the Group I haverelinquished my role of Joint Managing Director and the Board has appointed JonDiver as Joint Managing Director to join Kiran Shah. Jon will concentrate on thetrading activities whilst Kiran will continue to fulfill the financial role ashe has done so successfully over the past years. I will remain as ExecutiveChairman of the Group. Following the recent acquisition of a 24.1% interest in the Group's shares by 3iplc, we are delighted that Alan MacKay has accepted our invitation to become aNon-Executive Director of the Company with immediate effect. Having joined 3i plc ("3i") in 1987, Alan was appointed to the Board of 3i in1994. In 2001, he led 3i's acquisition of the Swedish listed company Atle AB andbecame CEO before returning to London in 2004 where he became Managing Directorof 3i's European investment business. Prior to 3i, Alan founded, grew and soldhis own marketing services business. Alan's appointment to the Character Group's Board broadens the Board's skills aswell as adding significant knowledge to the Board whilst also potentiallyopening trading and investment opportunities. I would emphasise, however, that we are continuing to benefit from focusing onour core business and intend to grow organically at least for the immediatefuture. The Directors believe that the appointments mentioned above are positive movesfor the future development of the Group. It remains the Board's stated objective to enhance shareholder value through therepurchase of its own shares and the Directors will continue to monitor the positionand will, when appropriate, make further market purchases. Against this background and with our order position looking robust, we expectthe new financial year commencing 1 September will continue to be strong leadingup to the Christmas season. continued... -2- FORMAL DISCLOSUREThe Company makes the following formal disclosure in connection with theappointment of Mr. Mackay (aged 44) who is or has been a director or partner ofthe following companies and partnership at any time in the previous 5 years: Current Directorships Appointed ICT Technologieholding GmbH (Germany) 14.06.00 Technologieholding Central and Eastern European Fund NV(Netherlands) 29.12.00 Technologieholding Central and Eastern European Parallel Fund BV(Netherlands) 29.12.00 3TS Capital Partners Oy (Finland) 20.03.03 Former Five Years' Directorships Resigned 3i Nordic Plc 30.04.04 3i Investment Partner Limited 13.01.06 3i Finland Oy (Finland) May 2004 Woodrose Invest AB (Sweden) April 2004 Atle AB (Sweden) April 2004 Atle Industri AB (Sweden) April 2004 PartnershipsPan European Buy-outs 2004-06 LP March 2004 Save as disclosed above, there is no other information requiring to be disclosedunder Schedule 2, paragraph (g) of the AIM Rules. Enquiries:The Character Group plc Charles Stanley Securities Citigate Dewe Rogerson LtdRichard King, Executive Chairman Philip Davies / Anthony Noakes Fiona TooleyKiran Shah, Group Finance DirectorTel: +44 (0) 20 8949 5898 Tel: +44 (0) 20 7149 6457 Tel: +44 (0) 121 455 8370Mobile: +44 (0) 7836 250150 (RK) Mobile:+44 (0) 7785 703523 +44 (0) 7956 278522 (KS) This information is provided by RNS The company news service from the London Stock Exchange