Live Company Regulatory News (LVCG)

15 Aug 2006 08:20

PARALLEL MEDIA GROUP PLC (PMG) CONSOLIDATES BOARD STRUCTURE Parallel Media Group PLC (`PMG'), the global media, marketing and sportsmanagement company announces two new appointments to its board:Mr Leonard Fine will take office in a non-executive role as an independentdirector and Chairman of the Remuneration Committee for PMG plc. Mr Fine is aChartered Accountant (SA) and fellow of the Chartered Institute of ManagementAccountants (UK). He is the Chief Executive Officer of Glenhove Fund Managers(Pty) Ltd and its senior founding member. He has over 40 years of internationalbusiness experience.Mr Edward Adams joins the PMG Board in the capacity of Chairman of the AuditCommittee, representing the shareholding of the AIM listed RAM Investment GroupPLC. Mr Adams has a background in fund management and research with ToucheRemnant and Carnegie International between 1983 and 1991, Mr Adams has sincebeen an active investor in a number of private businesses in areas such ashotels and media. At the current time, he is the Chairman of RAM InvestmentGroup PLC.In addition to their directorship of the Company, Messrs Fine and Adams are orhave been directors or partners of the following companies and partnershipswithin the last five years:Leonard Henry Fine (age: 65)Current directorships: Previous directorships: 20 Glenhove Road Properties (Pty) Comair Limited Limited Absolute Systems (Pty) Limited Control Instruments Group Limited Africa Millennium Fund Managers (Pty) Cycad Financial Holdings Limited Limited Blue Berry Properties cc Datacentrix Limited Coresource Investments (Pty) Limited Housewares Limited Cycad Financial Holdings Limited IST Limited Cycad Financial Holdings Trust Mercantile Bank Holdings Limited Cycad SMC Capital Investments Limited NSA Investments Limited Cycad SMC Technology Fund OTK / Afgri Limited Cycad Trafalgar Turnaround Fund Pinnacle Computers Limited Glenhove Fund Managers (Pty) Limited Parallel Media Group Limited GFM (Pty) Limited Real Africa Holdings Limited Glohold Limited Real Africa Investments Limited House of Camisa (Pty) Limited The Business Bank Limited Intelleca Voice and Mobile (Pty) Yorkor Limited Limited Leonard Fine Associates cc Archway Private Equity Fund Marakele Game Lodge Conferences Ceres Fruit Producers Limited Women Private Equity Fund Manager (Pty) Elliot International (Pty) Limited Limited WSI Technologies (Pty) Limited Gensec NSA Private Equity Fund Gensec NSA Fund Managers (Pty) Limited Pepe Foods (Pty) Limited RAD Private Equity Fund Barry Edward Adams (age: 46)Current directorships: Previous directorships: Mounts Bay Inn Limited Andromeda Oxford Limited RAM Media Limited PSG Solutions plc RAM investment Group plc Bartercard plc Tremellyon Limited Pinwheel Limited Universal Consumer Products Limited Hannafore Point Limited Fullwork Limited Berry Head Hotel Limited The Close Film Sale & Leaseback LLP Universal Storage Logistics Limited Paravid Research Limited Pinwheel Holdings Limited Paravid Properties Limited UDG Limited Monitor Audio Holdings Limited Monitor Audio Limited Edward Adams was a director of Andromeda Oxford Limited which went intoadministration on 13 November 2003 and had an estimated deficit to creditors of‚£3.84m. He is a director of Universal Consumer Products Limited and UDG Limitedwhich both went into administration on 21 April 2005 and had estimateddeficiencies to creditors of ‚£1.04m and ‚£3.32m respectively.There are no further disclosures to be made in connection with any of the abovein connection with schedule 2(g) of the AIM Rules.David Ciclitira, Chairman and CEO of PMG, said:"The proposed appointments are a very good step for PMG both as a PLC and as agroup and bring together a group of people with a rich and varied skill set. Byconsolidating the Board I feel confident that the group's business will benefittremendously." Ends For further information please contact:Leesa Peters/ Abigail Singleton T: +44 (0) 207 429 6666 Conduit PR M: +44 (0) 7739 461 061 ENDPARALLEL MEDIA GROUP PLC