Crawshaw Group Regulatory News (CRAW)

14 Sep 2005 16:00

Felix Group PLC14 September 2005 Felix Group plc (the "Company") Issue of Equity and Board Changes 14 September 2005 Placing by Teather & Greenwood to raise £4,013,500 The Company is pleased to announce that Teather & Greenwood Limited has placed("Placing") with institutional investors 16,054,000 ordinary shares of 1p eachin the Company ("Shares") at a price of 25p per share, conditional uponadmission. The gross proceeds of the Placing, amount to £4,013,500 (£3,821,143net of the expenses) will be used to repay shareholder loans of approximately£400,000 and for the general working capital purposes of the Company. The Placing Shares will rank pari-passu with the existing Shares in issue andare expected to be admitted to AIM on 19 September 2005 Board Changes The Company also announces two board changes. Alasdair Waddell, who has beenChief Executive since April 2004 has stepped down from the board for healthreasons. Andy Egan, who has most recently been Executive Vice Chairman, becomesthe Chief Executive. In addition, John Liwosz, aged 45, has been appointed asManaging Director of Felix Corporation Limited and appointed to the plc board asOperations Director. John was most recently Chief Operating Officer of AtlasInteractive Limited and formerly the deputy MD, Head of Retail Operations ofNORWEB Telecom Limited. All of these board changes are effective from today. Commenting, Andy Egan, Chief Executive, said: "The board pays tribute to Alasdair for his significant contribution andleadership during the past 2 years and everyone at Felix extends their bestwishes to him for the future. John is a strong addition to our management teamand I feel sure he will make an excellent contribution to our growth." ENDS Enquiries: For Felix Group plc - Mike Wallwork (O) 01565 831 100 (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 For Teather & Greenwood Limited - Adam Pollock (Sales) Stephen Austin (Corporate Finance) (O) 020 7426 9000 Further details on John Francis Liwosz, aged 45: Current Directorships: JMI Consulting Limited Prestwich Golf Company Limited Directorships within the previous five years: Oncue Telecommunications Limited (In Administration) Digital Programmes Limited (In Creditors Voluntary Liquidation) There are no further matters required to be disclosed under paragraph (g) ofSchedule 2 to the AIM Rules This information is provided by RNS The company news service from the London Stock Exchange