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18 Jul 2014 16:10
SPARK Ventures plc
("SPARK" or the "Company")
Board Changes
SPARK today announces that Andrew Carruthers has stepped down as a director of the Company. Andrew has recently raised a Venture Fund for East Africa (Novastar Ventures) and is relocating to Nairobi. Andrew has been a director of Spark Ventures plc since its foundation in 1999 - initially as Chief Operating Officer, later as Chief Executive Officer and, since October 2009, as a representative of SPARK Venture Management Ltd,("SVML"). The Board of SPARK would like to thank Andrew for his service over the last fourteen and a half years.
As Andrew's replacement and as the representative of SVML, Thomas Alfred Teichman has been appointed as director of SPARK with immediate effect. Mr Teichman was previously the Executive Chairman of SPARK from its foundation in 1999 until the completion of the management buy out of SVML from SPARK in October 2009. Since then Tom has been the Executive Chairman of SVML and in the last twelve months has been the Investment Director responsible for SPARK's most successful exits - from Kobalt Music and from Notonthehighstreet.com. Before that he was responsible for SPARK's largest exit to date, Mergermarket.com. He was a founder investor in lastminute.com and several other successful internet and technology companies which have IPO'd or been sold to trade buyers over the last 20 years.
Mr. Teichman, and persons connected to him, has a beneficial interest in 16,434,138 shares in the capital of SPARK ("Ordinary Shares") representing 3.92% of the Company's voting rights.
For further information, please contact:
SPARK Ventures plc | Andrew Betton / David Potter | 020 7851 7777 |
finnCap | Matt Goode / Christopher Raggett | 020 7220 0500 |
The following further information in relation to the appointment of Mr. Teichman (66) is disclosed in accordance with Schedule 2(g) of the AIM Rules for Companies.
Current directorships and partnerships | Directorships and partnerships held in the last five years |
SPARK Venture Management Ltd | SPARK Advisory Partners Ltd |
SPARK Venture Management Holdings Ltd | Mind Candy Ltd |
NewMedia SPARK Directors Ltd | SPARK Impact Ltd |
SPARK Black Sheep Ltd | Kobalt Music Group Ltd |
Squawka Ltd | Moshi Monsters Music Ltd |
Elevate Platform Ltd | SPARK Ventures plc |
Eve Snow Ltd | |
Kriticalmass Ltd | |
HardlyeEver Ltd | |
62 Dean Street Soho London Ltd | |
Quester Venture GP Ltd | |
Quester Academic GP Ltd | |
Querist Ltd | |
Soho Capital LLP |
In 1993, Mr Teichman was a Director of Town & County Ltd ("Town & County") as a representative of Bank of Montréal Nesbitt Thomson. Approximately nine months after Mr Teichman's resignation, administrative receivers were appointed to Town & County. The majority of the assets of Town & County were sold by the administrative receivers shortly after their appointment.
There are no other matters which are required to be announced under Schedule 2(g) of the AIM Rules for Companies.
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