Last checked at 3 Feb 2009 11:57
| For Immediate Release | 3 February 2009 |
Ideal Shopping Direct PLC
("Ideal Shopping" or the 'Company')
Board Changes
Ideal Shopping Direct PLC announces that further to the Company's announcement on 13 January 2009 stating that it had received a requisition notice requesting that the Company convene a general meeting to effect certain changes to the board of the Company ("the Board"), the Board has reached an agreement with the party that requisitioned the meeting in relation to a revised Board structure, and, as a result, the requisition notice has been withdrawn.
The following changes to the Board will take place:
David Williams, Non-Executive Chairman and Terry Donovan and Susan Ellis, non-executive directors of the Company have resigned from the Board. Paul Wright will replace David as non-executive Chairman; Valerie Kaye will be appointed as a non-executive director of the Company. These changes have taken effect following the Board meeting today.
Continuing members of the Board therefore will be Mike Hancox (Chief Executive Officer), Pamela Aujla (Commercial Director), Paul Wright (Non-Executive Chairman) and Valerie Kaye (non-executive director). In addition, Ian Jebson, whose appointment as Finance Director was announced by the Company on 10 December 2008, will be joining the Company on 1 March 2009.
For further information please contact:
| Mike Hancox, Chief Executive | |
| Ideal Shopping Direct plc | 020 7466 5000 |
| Michael Meade, Oliver Cardigan - Nominated Adviser Mark Lander - Corporate Broking Numis Securities | 020 7260 1000 |
| Richard Darby, Miranda Higham | |
| Buchanan Communications | 020 7466 5000 |
Further information required by Schedule 2 of the AIM Rules
Paul Charles Wright (57) is currently a director of:
Phoenix II Ltd (formerly P.V.Marketing Ltd)
Lead The Good Life Ltd
The Good Life Ltd (dormant)
Paul Wright was previously a director of the following within the last five years:
Ideal Shopping Direct PLC
Valerie Kaye (56) is currently a director of:
Phoenix II Ltd (formerly P.V.Marketing Ltd)
Lead The Good Life Ltd
The Good Life Ltd (dormant)
Valerie Kaye was previously a director of the following within the last five years:
Ideal Shopping Direct PLC
Rydal Mount Management Company Ltd
Paul Wright and Valerie Kaye were formerly directors of Shop Box Company Ltd, which entered into voluntary liquidation in 1986.
No further disclosures are required under Schedule 2 (3) (g) of the AIM Rules.