IQ-AI Regulatory News (IQAI)

15 November 2013

Flying Brands Limited (the "Company" or the "Group")

Interim Management Statement and Directorate Change

Directorate change

Flying Brands Limited has accepted the resignation of Christopher Knott as Group Finance Director and Company Secretary. He will be leaving Flying Brands on 31 December 2013 to take up a new role.

Flying Brands Limited will announce his successor in due course.

Interim management statement

The Company has been in discussions with the planning authorities regarding its plans for the development of Retreat Farm and intends to submit its detailed application for planning permission in the near future.

We are still in discussions with Jersey Choice Marketing Limited to resolve amicably their potential warranty claim. In August we announced that we would be receiving another payment of £125k in November 2013. We agreed to restructure this payment and have been receiving payments in accordance with that agreement.

The Group is continuing to defend the action brought against it by Flying Flowers PTY Ltd ("FFA") in the Jersey Courts whilst pursuing our own counterclaim against FFA for monies due to the Group. 

For further information please contact:

Smithfield Consultants 020 7360 4900

John Kiely