6 May 2011 15:41
6 May 2011
JJB Sports plc
Director Appointment
The Board of JJB Sports plc ("JJB" or "Company") is pleased to announce the appointment of Richard Bernstein as a director of the Company with immediate effect. Richard Bernstein was nominated by Crystal Amber Fund Limited (the "Fund") as its representative director pursuant to the right contained in a relationship agreement dated 21 February 2011 the terms of which were set out in the recently published prospectus.
The Fund holds 20,889,701 shares in the Company, equivalent to 7.12% of the issued shares. The Fund also holds warrants to acquire 3,531,413 shares in the Company. In addition, Invesco Limited ("Invesco"), a related party of the Fund, holds 139,275,935 shares, equivalent to 47.12% of the issued shares and warrants to acquire 8,899,951 shares in the Company.
The Fund and Richard Bernstein have together been significant supporters of the Company throughout the recent restructuring.
Richard Bernstein is a well known sponsor of linking companies to charitable causes, and he will become Chairman of a newly formed Board Committee putting CSR at the heart of the Company. Sir Matthew Pinsent and Keith Jones, the CEO, will also join the CSR Committee.
Richard Bernstein will also join the Board's Remuneration Committee.
Mike McTighe, Chairman, commented: "We are delighted that Richard has been nominated to the Board. He brings significant experience and insight and I am looking forward to his contribution and working with him on the turnaround of JJB."
David Adams, Chairman of the Remuneration Committee, commented: "Richard has much to add to the workings of the Remuneration Committee as we seek to incentivise our senior executives to meet the stretching targets we have set."
The following information requiring to be disclosed under Rule 17 and Schedule 2 of the AIM Rules has been provided by Mr Bernstein:
Full name: Richard Philip Bernstein
Age: 48 years
Current directorships and partnerships:
·; Eurovestech plc |
·; SVM UK Emerging Fund plc |
·; Knowledge Support Systems Limited ·; Knowledge Support Systems Licensing Limited |
·; Toluna Group Limited ·; Toluna UK Limited |
·; C Judge SA |
·; Crystal Amber Asset Management (Guernsey) Limited ·; ITWP Acquisitions Limited |
·; Share and Share Alike Limited |
·; Better Lives for Pets Limited |
·; Internet Pricing Limited |
·; Crystal Amber Advisers UK Limited Liability Partnership |
·; Bernstein and Partners |
Past Directorships and Partnerships
·; Quotescore Limited |
·; Christa Records Limited ·; KSS Retail Limited |
There are no other details required to be disclosed
Enquiries:
| |
JJB Sports plc Mike McTighe Keith Jones | 01942 221 400
|
Numis Oliver Hemsley Heraclis Economides
| 020 7260 1000 |
Crystal Amber Fund Limited Kevin Smith
| 01481 716000 |
Maitland Neil Bennett Emma Burdett
| 020 7379 5151 |