JNY.L Regulatory News (JNY)

4 Jun 2007 13:15

Watermark Group PLC04 June 2007 4 June 2007 Watermark Group Plc (the "Company") Directorate Changes As announced on 1 May 2007, the following Board changes have taken placefollowing shareholder approval of the refinancing proposals at today's EGM. Maurice Ostro, Chief Executive Officer and founder of both Air Fayre and MediaOn The Move, steps down from the Board and will be leaving the Company today.The Board thanks Mr. Ostro for all his support as well as for his generosity inwaiving his contractual entitlements. Danny Bernstein, Watermark's Chairman said: "Maurice led the organisationthrough the successful integration of all the Group companies into its facilityin Heston. He has been a tireless leader whose vision has laid the foundationsfor Watermark's future and we are grateful to him for steering the Group throughits restructuring and for the role he has played in procuring the re-financingof the Group." Danny Bernstein steps down as Interim Non-Executive Chairman and returns to hisrole as Senior Independent Non-Executive Director. The Board would like to extend its thanks to Danny for stepping into the role ofInterim Non-Executive Chairman, and for his work, dedication and loyalty to theCompany through a challenging year. Stephen Yapp joins the Board as Executive Chairman. He has extensive experienceof strategic business development, operational management and value creation ina quoted company environment. Listed below are the names of the publicly quoted companies of which StephenYapp has been a director at any time in the past five years: Imagesound plc (AIM): current Non-Executive DirectorDCS Group plc (AIM): 2001 - 2006: Chief Executive Officer There is no further information concerning Stephen Yapp which requiresdisclosure under Rule LR 9.6.13 R of the UK Listing Authority Listing Rules. ENDS This information is provided by RNS The company news service from the London Stock Exchange