INC.L Regulatory News (INC)

15 Jun 2007 11:15

Avanti Screenmedia Group PLC15 June 2007 For Release 15 June 2007 Avanti Screenmedia Group plc ("Avanti or the Company") (AIM: ASG) Trading Update, Contract Win, New CEO Appointed Avanti Screenmedia Group plc, a leading in-store digital solutions provider,announces a pre-close trading update prior to its year ending 30th June 2006. Trading Update Following the demerger and flotation of the networks business,Avanti Communications Group plc, on 16 April 2007, trading during the year underreview has been challenging as this was the primary focus of senior managementfor the majority of the year. The Directors believe that certain contracts andagreements that were expected to be included in the financial year to 30 June2007 will be signed later in the next financial year and, as a result, revenuefor the period will be significantly behind market expectations. However, withthe successful completion of the demerger, the management have been able torefocus the business and its strategy through restructuring, to create a strongplatform to take the Company forward. Appointment of New CEO Avanti is pleased to announce that it has appointed Simon Rees, aged 46, ChiefExecutive to the Board with immediate effect. Simon is well known in the mediaindustry, and was formerly Chief Executive of Mindshare. He will bring a wealthof experience, commercial expertise and knowledge of the media market to theAvanti Board. Further information required under Schedule 2 (g) of the AIM rulesis contained below. New Contract Win Avanti is pleased to announce the award of a 1 year contract with Marks andSpencer Group PLC ("M&S"). Following a successful three month trial in four M&S London Flagship storesusing interactive touch screen kiosks, it has been agreed to expand to a further40 stores. The kiosks assist customers in the selection of all M&S wines, beers andspirits. Located within the wine section, they will allow consumers thepotential to select additional food purchases recommended by the kiosks. Theroll out is expected to complete in August 2007. The kiosks have also attracted considerable interest from other retailers and weexpect further contracts in next financial year. Resignation of Director Avanti advises that Roland Fisher, a Non-Executive Director representingCaledonia Investments PLC, the Company's largest shareholder, has resigned fromCaledonia Investments PLC and therefore from the Board of Avanti with immediateeffect. The Company would like to thank Roland for his valuable contribution. Itis expected that Caledonia Investments PLC will recommend a new representativefor appointment to the Board of Avanti in due course. Change of Head Office The Company has completed the move of its Head and Registered Office to its newpremises at Ludgate house, 245 Blackfriars Road, London. SE1 9UF. Enquiries: Avanti Screenmedia Group plc 0207 902 2345Gary Truman, Finance Director Charles Stanley Securities 020 7149 6112Russell Cook/Freddy Crossley Bishopsgate Communications Limited 020 7562 3355Maxine Barnes/Jenni Herbert Further Information on Simon Rees Simon Rees currently holds 2,500 ordinary shares in the capital of the Companyof 1 pence per share, representing 0.01 per cent of the total voting rights ofthe Company. In 2005, Simon was a Director of The Media Vehicle Limited for 3 months prior toit becoming insolvent. At the time of appointment a number of key clients hadgiven or were shortly to give their notice. As a result the business was notsustainable without these key contracts and administrators were engaged on hisadvice within weeks of his joining the company. Details of previous Directorships within the past 5 years: Digital Planet LtdSimon Rees Consultancy LtdThe Media Vehicle LimitedMindshare Media UK Limited There are no further disclosures to be made in accordance with Schedule 2 (g) ofthe AIM rules. This information is provided by RNS The company news service from the London Stock Exchange