Sign In
Last checked at 
2 May 2008 15:09
15:00 Friday 2 May 2008 CLS HOLDINGS PLC ("CLS" or "the Group") BOARD CHANGES
In advance of its proposed change of domicile and the creation of a new holding company for the Group, there have been a number of changes to the Board of CLS.
Henry Klotz has been appointed as Chief Executive Officer of CLS with immediate effect. Henry has been employed by the Group for over 10 years and has been in charge of the Group's property business both in Sweden and Germany. He is also the Non-Executive Chairman of Catena AB, a Swedish listed company, in which CLS has a 29% stakeholding and Non-Executive Director of Bulgarian Land Development plc (the AIM listed company in which CLS also has a 29% interest).
Henry replaces Per SjĦberg as Chief Executive Officer, who has resigned his directorship to return to Sweden. This is, in part, due to recent changes in UK taxation affecting UK residents with "non-domiciled" status. However, Per will continue as Chairman of both Bulgarian Land Development plc and of Lunarworks Holdings AB. He will also remain on the Board of Catena AB.
In light of the changes to the Board, Anders BĦĦs has resigned as Non-Executive Director and Sten Mortstedt will continue in his role as Executive Chairman of the Group.
Sten Mortstedt commented:
"We have had to look carefully at our requirements for the Board of CLS particularly in light of current market conditions and our proposed new holding company structure. Whilst we are disappointed to lose Per, who has performed an excellent job as Chief Executive Officer over the past 2 ‚½ years and prior to that as Development Director to the Group for 7 years, we are delighted to be able to appoint Henry Klotz as Chief Executive Officer. Henry has extensive international property experience across Europe which will be important for us. I would also like to thank Anders for his contribution."
Pursuant to Listing Rule 9.6.13 (1), Henry Klotz is currently a Non-Executive Director of Bulgarian Land Development and is Non-Executive Chairman of Catena AB.
No further information is required to be disclosed pursuant to LR 9.6.13 R. Henry currently is interested in 1,521 CLS ordinary shares.
-ends-
For further information, please contact:
Sten Mortstedt, Executive Chairman
Tom Thomson, Vice ChairmanCLS Holdings plcTel. +44 (0)20 7582 7766www.clsholdings.comAdam ReynoldsHansard Group+44 (0)20 7245 1100www.hansardgroup.co.uk
vendor
Follow the stocks
