Crawshaw Group Regulatory News (CRAW)

21 Jul 2006 07:01

Felix Group PLC21 July 2006 21st July 2006 Felix Group Appointments and Grant of Options Board Appointments Felix Group plc ("Felix"), announces the appointments with effect from 1stSeptember 2006 of Mr Richard Rose as Non-Executive Chairman and Mr MichaelMasters as a Non-Executive Director. The current Non-Executive Chairman MrMichael Neville, will step down from the board with effect from 31 August 2006.Mr Jonathan Ballard will also step down as a Non-Executive Director with effectfrom 31 August 2006. Commenting, Andy Egan Chief Executive Officer said: "I would like to thank both Mike and Jon for their significant contribution tothe development of Felix. Both have been board members since the inception ofthe company and have assisted greatly, in particular during the listing processof Felix Group plc on AiM and the subsequent equity placings undertaken by theCompany. Their corporate finance expertise has proven to be a huge asset for theCompany. "I would also like to welcome Richard Rose and Mike Masters to the Felix board,their retail and banking experience will, I am sure, prove equally valuable tous as we enter the next stage of our development." Richard Rose, age 50, was formerly Chief Executive of Whittard of Chelsea plc, amulti site retailer of tea and coffee. He joined in 2001 following a £3m lossand led a significant recovery in profits. The business was sold to Baugur in2006. Previously he was a Director of Hagemeyer (UK) Ltd, a distributor ofprofessional products and services, with a UK turnover approaching £1 billionthrough 360 outlets. Prior to that he had been CEO of WF Electrical plc, a fullylisted company, where he created a substantial improvement in shareholder value.Hagemeyer purchased WF Electrical plc in 2000. He was also non-executiveChairman of AC Electrical where he led a very successful growth strategyresulting in a very substantial increase in shareholder value. The business wassold to Wolseley in 2006. He is Chairman of Kiotech International plc andnon-executive Chairman of Nanoscience Inc and deputy Chairman of Blueheath Groupplc. Mike Masters, age 62, worked for the Royal Bank of Scotland holding variouspositions until 1989. He was then appointed Group Finance Director for Trinityplc, a role he performed until 1999, when, following the acquisition of MirrorGroup plc, appointed Group Managing Director - Publishing UK and Ireland untilhis retirement at the end of 2000. Mike was appointed Chairman of Incisive Mediaplc at the end of 2000 and also holds a number of private company directorships. The information required by rule 17 and Schedule 2 paragraph (g) of the AiMRules in relation to the appointment of Richard Rose and Michael Masters is setout in the Schedule 1 to this Announcement. Grant of Options Felix has also today confirmed the grant of share options for recently appointedGroup Managing Director, Lynda Sherratt and to non-executive director Alan Uren. The information required by rule 17 and Schedule 5 of the AiM Rules in relationto the grant of these options is set out in Schedule 2 to this Announcement. In addition, 24 other Felix staff have also been granted share options under theCompany's EMI Share Option Scheme. The aggregate number of ordinary shares of 1pence each over which options have been granted to the 24 staff is 1,735,000. Felix can also confirm that due to an administrative oversight, it has beenagreed that the share options granted to Andrew Egan in December 2005 should bereleased and equivalent replacement options be issued. The number of sharesunder option remains the same, as does the exercise price and performanceconditions. The information required by rule 17 and Schedule 5 of the AiM Rulesin relation to the release and issue of new options to Mr Egan is set out inSchedule 3 to this Announcement. Enquiries: For Felix Group plc - Mike Wallwork (o) 01565 831100 (m) 077956 13844(email) mike@felixcorp.com PR for Felix Group plc - Holborn PR, David Bick (o) 020 7929 5599(email) info@holbornpr.co.uk Schedule 1 - New Directors Director Appointments Part I - Richard Rose Name: Richard Sidney Rose Age: 50 Previous Names: None Directorships and Partnerships held in the last 5 Directorship Appointed Resignedyears indicating those which are current: Electro Switch Ltd Oct 96 Current Kiotech International plc Mar 05 Current Blueheath Holdings plc May 06 Current Hagemeyer(UK) Ltd Jan 01 Aug 01 WF Electrical plc Oct 91 Aug 01 Blackstone Holdings Ltd Apr 99 Aug 01 J&N Wade Ltd Apr 99 Aug 01 Nyquist Electrical Components Ltd Aug 95 Aug 01 Runcorn Distribution Centre Ltd May 01 Oct 01 Whittard of Chelsea Ltd Aug 01 Jan 06 A.C. Electrical Holdings Ltd Dec 03 Apr 04 A.C. Electrical Wholesale Ltd Dec 03 Apr 06 Nanoscience Inc. May 04 CurrentUnspent Convictions in relation to indictableoffences: None Details of any bankruptcies or individual voluntary arrangements: None Details of any insolvency in respect of any Company that the Director was a director of: None Details of any insolvency of any partnership of which the Director was a partner of : None Details of any public criticisms etc: None Part II - Michael Masters Name: Michael David Masters Age: 62 Previous Names: None Directorships and Partnerships held in the last 5 Directorship Appointed Resignedyears indicating those which are current: New Broom plc June 01 June 02 Blubox Ltd Aug 01 Feb 04 Retail and Leisure International Ltd Feb 02 current The Day Spa (UK) Ltd Aug 01 Mar 05 The Day Spa Properties (UK) Ltd Aug 01 Dec 04 Mendplant Limited Aug 01 current Retail Italy Ltd Aug 01 current PSCA International Ltd Dec 01 current RW The Bespoke Caterer Limited Oct 02 Mar 04 Blubox Bar & Grill Ltd Aug 01 Mar 05 Tilly 1 Ltd June 05 current Rickett, Sons and Company Limited Sept 04 current Million21 Limited Jan 05 current Incisive Media plc Dec 00 current Unspent Convictions in relation to indictableoffences: None Details of any bankruptcies or individual voluntaryarrangements: None Details of any insolvency in respect of any Companythat the Director was a director of: Blubox Limited 2/04 investment - liabilities circa £67k RW The Bespoke Caterer Ltd 3/04 Investment - company sold and subsequently liquidated by purchaser Details of any insolvency of any partnership of which the Director was a partner of : None Details of any public criticisms etc: None Schedule 2 - Share Options Part I - Granted to Lynda Sherratt Name: Lynda Sherratt Date: 14th July 2006 Date of Grant of Option: 14th July 2006 Details of Options: Maximum number of ordinary shares of Exercise Price: 12.38 1 pence each ("shares") over which pence per share options are exercisable: 1,750,000 Exercise conditions as follows: 300,000 Shares (no conditions) 450,000 Shares: subject to continued employment over a 12 month period (released in 12 equal tranches of 37,500 Shares): 25,000 Shares: subject to quoted average mid-market price of the Company's Shares for a 30 day period exceeding £0.21 175,000 Shares: subject to quoted average mid-market price of the Company's Shares for a 30 day period exceeding £0.32 175,000 Shares: subject to quoted average mid-market price of the Company's Shares for a 30 day period exceeding £0.40 175,000 Shares: subject to quoted average mid-market price of the Company's Shares for a 30 day period exceeding £0.60 250,000 Shares: subject to quoted average mid-market price of the Company's Shares for a 30 day period exceeding £0.85 200,000 Shares: subject to quoted average mid-market price of the Company's Shares for a 30 day period exceeding £1.30 These Share Options were granted under the Felix Group plc Enterprise ManagementIncentive Scheme and the Felix Group plc Executive Share Scheme. They arebeneficially owned by Lynda Sherratt and under the terms of these Schemes theoptions are not transferable. Part II - Granted to Alan Uren Name: Alan Uren Date: 17th July 2006 Date of Grant of Option: 17th July 2006 Details of Options: Maximum number of ordinary shares of Exercise Price: 12.38 1 pence each ("shares") over which pence per share options are exercisable: 75,000 Exercise conditions as follows: No conditions These Share Options were granted under the Felix Group plc Executive ShareScheme. They are beneficially owned by Alan Uren and under the terms of theseSchemes the options are not transferable. Schedule 3 - Share Options Released and Issued to Andrew Egan Name: Andrew Egan Date: 14th July 2006 Date of Grant of Option: 14th July 2006 Details of Options: Maximum number of ordinary shares of Exercise Price: 1 pence 1 pence each ("shares") over which per share options are exercisable: 5,750,000 Exercise conditions as follows: 500,000 Shares: subject to quoted average mid-market price of the Company's Shares for a 30 day period exceeding £0.50 1,000,000 Shares: subject to quoted average mid-market price of the Company's Shares for a 30 day period exceeding £0.75 1,250,000 Shares: subject to quoted average mid-market price of the Company's Shares for a 30 day period exceeding £0.95 500,000 Shares: subject to quoted average mid-market price of the Company's Shares for a 30 day period exceeding £1.25 1,250,000 Shares: subject to quoted average mid-market price of the Company's Shares for a 30 day period exceeding £1.75 1,250,000 Shares: subject to quoted average mid-market price of the Company's Shares for a 30 day period exceeding £2.50 Options in respect of these shares have been released. New options onequivalent terms have been issued to Andrew Egan under the Felix Group plcEnterprise Management Incentive Scheme and the Felix Group plc Executive ShareScheme. They are beneficially owned by Andrew Egan and under the terms of theseSchemes the options are not transferable. This information is provided by RNS The company news service from the London Stock Exchange