MUBL.L Regulatory News (MUBL)

31 Mar 2006 12:43

Air Music & Media Group PLC31 March 2006 31 MARCH 2006 Air Music & Media Group plc ("Air Group" or "the Group") BOARD REORGANISATION Air Group, the UK distributor of home entertainment products, announces today areorganisation of the Group's Board structure, to create a more focusedapproach, which will come into effect on 3 April 2006. The Board is pleased to announce the appointment of Mark Frey as Non-ExecutiveChairman (formerly Joint CEO), Trevor Allan as CEO (formerly Joint CEO) and JohnFrench as Non-Executive Director (formerly Non-Executive Chairman) of Air Group,effective from 3 April 2006. Mark Frey, will become Non-Executive Chairman, having held the position of JointCEO. Mark is a founding director of Air Group, where he has focused onacquisitions and product development, and brings with him a demonstrable 20 yeartrack record in the sector. Mark will communicate the Group's strategydifferentials and investment strengths to both current and future investors. Trevor Allan will take up the sole role of CEO. Trevor has held the role ofJoint Chief Executive since July 2005. He has more than 20 years of experiencein the business of selling music and DVD products. Alex Sorrell's position remains unchanged and will continue as Finance Director. Roger Putnam has notified the Board that he will be stepping down from his roleas Non-Executive Director on 30 June 2006. The Board would like to thank Rogerfor his support and efforts to date, wish him well in the future, and will beseeking a replacement Non-Executive Director in due course. At the time of the Group's December Interims, the Company announced that it hadbeen advised by John French of his intention to step down as Non-ExecutiveChairman. This will become effective from 3 April 2006. John French has agreedto continue as a Non-Executive Director until 30 June 2006. John French was appointed Non-Executive Chairman in November 2001 and wasresponsible for leading the Group into the quoted company sector, including anintroduction to Ofex and subsequently to AIM. The Board has expressed theirappreciation of his contribution. At the time of the Group's January Trading update, the Board announced thatSales in the critical Christmas trading period were in line with managementexpectations. Trading performance since January 2006 has continued in line withmanagement expectations and, accordingly, the Directors remain confident thatthe full year results will meet market expectations. --ENDS-- Enquiries: AIR MUSIC & MEDIA GROUP PLCAlex Sorrell Tel: 01772 455000Mark Frey Tel: 077 1058 4688 BISHOPSGATE COMMUNICATIONS LIMITED Tel: 020 7430 1600Dominic BarrettoFran Read NOTES TO EDITORS Air Music and Media Group plc was formed in 1995. It is a distributor andpublisher of entertainment products, with operations based in the UK and NorthAmerica its primary market is Supermarket retail outlets in the UK where it is aprovider of a broad spectrum of value entertainment products; predominately CDsand DVDs. In addition to distributing third party, goods the Group alsopublishes ranges of products produced from its own copyright resources. From 3 April 2006, the new Board will comprise: Mark Frey Non-Executive ChairmanTrevor Allan CEOAlex Sorrell Finance DirectorJohn French Non-Executive DirectorRoger Putnam Non-Executive Director www.airmusicandmedia.com This information is provided by RNS The company news service from the London Stock Exchange