6 Mar 2012 07:00
| Date: | 6 March 2012 |
| On behalf of: | Cupid plc ('Cupid', the 'Company' or the 'Group') |
| Embargoed until: | 0700hrs |
Cupid plc
(the "Company")
Board Changes
Cupid plc (AIM: CUP), the online dating company, is pleased to announce the appointment of Ian McCaig and Russ Shaw as non-executive directors of the Company, both with immediate effect.
Ian McCaig, 45, spent 8 years at internet travel business, lastminute.com, and as CEO for the last 5 years he led the evolution of the business from a high growth early stage internet business to a mature and established company. Before that, Mr McCaig held senior management positions at Nokia and Telewest Communications. Mr McCaig currently serves as CEO of First Utility, the energy provider and smart metering innovator.
Russell James Shaw, 49, was Vice President and General Manager of Skype Europe, Middle-East and Africa and Mobile from 2009 to 2011. Prior to this, Mr Shaw spent four years at Telefonica SA, initially as Marketing Director of O2, and latterly as the Global Director of Innovation, following its acquisition by Telefonica. He has also spent a year as Chief Executive of Mobileway Inc. and two years as Managing Director of NTL Home London for NTL Group Limited. His earlier experience includes positions at Charles Schwab Corporation, American Express Company and Ernst and Young. Mr Shaw currently serves as a non-executive director on the Boards of mobile solutions businesses Unwire APS and Dialog Semiconductor GmbH, and video games retailer, Game Group plc. He is also Chairman of the Marketing Board of Great Britain.
The Company also announces that co-founder and Business Development Director of the Company, Max Polyakov is stepping down from the Board with immediate effect to pursue a new social gaming venture in the USA but maintains his commitment and contribution to the Company with an ongoing consultancy role. Mr Polyakov's role will be filled from existing management as well as from the strengthening of the US team. Mr Polyakov, who holds approximately 23% of the share capital of the Company, has entered into a lock-in and orderly market arrangement with the Company.
Also, Martin Higginson, non-executive director, leaves the Board to concentrate on other business interests.
Chairman, George Elliott, said
"We are delighted to welcome both Ian and Russ to the Cupid team. Ian and Russ bring a wealth of valuable experience in the on-line retail and mobile telecoms spaces, key drivers to the future growth strategy of the Company. The appointments serve to provide a strong foundation for the strengthening of the Board as Cupid moves to the next phase of its development".
For further information please contact:
Cupid plc | Tel: +44 (0)131 220 1313 |
Mark Doughty, CFO
| |
Peel Hunt LLP (Nominated Adviser and Broker) | Tel: +44 (0)207 418 8900 |
Richard Kauffer Daniel Harris
| |
Redleaf Polhill | Tel: +44 (0)207 566 6720 |
Henry Columbine Luis Mackness
| cupid@redleafpolhill.com |
Additional information:
In addition to the above, Mr McCaig is currently a director or was a director in the last 5 years of those companies listed below. Russ Shaw is also limited partner in Ariadne Capital's ACE Fund and a member of The Invicta Film Partnership no.23 LLP.
No further disclosure is required under Paragraph (g) to Schedule Two of the AIM Rules with respect to Ian McCaig or Russ Shaw.
Other Current Directorships of Ian McCaig
First Utility Limited
63 Christchurch Road Management Company Limited
Block 6 Ashley Gardens Limited
Past Directorships of Ian McCaig
All-Hotels Limited Big Mouth Media Limited |
Cordex Computer Services Limited |
The Destination Group Limited |
LM Media Services Limited |
TEL Holdco Limited |
Exhilaration Incentive Management Limited |
First Option Hotel Reservations Limited |
Gemstone Travel Limited |
Globepost Limited |
Holiday Autos Nordic AB |
Holiday Autos Nordic AS |
Holiday Autos France S.A.S |
Holiday Autos GmbH |
Holiday Autos Group Limited |
Holiday Autos Holdings Limited |
Holiday Autos International Limited |
Holiday Autos U.K. and Ireland Limited |
Holiday Autos Italia S.R.L. |
Secret Hotels4 Limited |
Secret Hotels3 Limited |
Joint Venture Travel Limited |
lastminute.com Group Services Limited |
Lastminute.com Hellas EPE |
Lastminute.com BV |
lastminute.com Limited |
Lastminute.com Overseas Holdings Limited |
Lastminute.com S.R.L |
Lastminute.com UK Holdings Limited |
Lastminute S.A.S. |
Last Minute Network Limited |
Last Minute Network Limited |
Lastminute Network, S.L. |
Secret Hotels Limited |
Holiday Service GmbH |
Secret Hotels2 Limited |
OTC Travel Management Limited |
Online Travel Corporation Limited |
Online Travel Services Limited |
OTC Travel Corporation Limited |
Oxford Technology Solutions Limited |
Travelocity Nordic ApS |
Travelocity Nordic AB |
Travelocity Nordic AS |
Taskbrook Limited |
Travelocity.co.uk Limited |
Travelprice Belgium BVBA - SPRL |
Travelprice.com S.A.S. |
Travelstore.com Limited |
Travelocity Europe |
Travelbargains Limited |
Travelcoast Limited |
LM Travel Services Limited |
Travelocity France SAS |
Travelprice Italia SRL (societa' uninominale) |
Urbanbite Limited |
Urbanbite BV |
USIT Connections SAS |
Viva Travel Dun Laoghaire Limited |
Voyages Sur Mesures S.A.S |
Notes to Editors
§ Cupid plc (formerly Easydate plc) listed on AIM in June 2010 and is a leading provider of online dating services
§ Cupid has built significant and growing revenues in 15 countries.
§ Cupid offers a wide variety of online dating services allowing members to interact with each other and access the content available on the Group's websites. These websites are intended to appeal to dating users of diverse ages, cultures and social interest groups. The Group's most heavily visited websites include www.cupid.com, www.flirt.com, www.benaughty.com, www.girlsdateforfree.com and www.datetheuk.com. The Group also promotes the niche brands www.datingforparents.com, www.speeddater.com and www.maturedating.co.uk.
§ The majority of services are also available via Apple and Android App Stores for mobile users as well as through their own Facebook apps - e.g. http://apps.facebook.com/cupidcom and http://apps.facebook.com/benaughtynow.
§ Further information on the Company can be found at www.cupidplc.com.