2 Oct 2020 09:31
2 October 2020
For immediate release
THE INFORMATION COMMUNICATED IN THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU NO. 596/2014 ("MAR").
NEW TREND LIFESTYLE GROUP PLC
("NTLG" or "the Company" or "the Group")
(to be re-named Conduity Capital Plc)
Board Changes
Further to the announcement and Shareholder Circular dated 8 September 2020 regarding, inter alia, the proposed disposal of New Trend Lifestyle Pte. Ltd, the Company announces that with effect from today, Nicholas Lee is joining the Board as a non-executive Director, and Phang Song Hua and Ajay Rajpal have resigned from office. Gregory Collier will remain on the Board as Chairman.
Nicholas has over 30 years of experience in international investment banking and working as a company director. He qualified as a chartered accountant with Coopers & Lybrand and has a degree in engineering from St John's College, Cambridge. He worked for Dresdner Kleinwort and its antecedent firms from 1988 to 2009, rising to Managing Director, Head of Banking, Hedge Fund Solutions Group. During this period, he advised leading companies from a number of different industries. Since then he has been actively involved in AIM as a director of a number of listed companies. It is proposed that Mr Lee will become Chairman of the Audit Committee and a member of the Remuneration Committee.
Greg Collier added:
"On behalf of the Company I would like to thank Ajay Rajpal and Master Phang for all their work over the past few years and wish them well on their future endeavours. I welcome Nicholas to the Board and look forward to working with him"
Additional information:
The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:
Nicholas Lee, aged 57, holds or has previously held the following directorships:
Current directorships and/or partnerships | Former directorships and/or partnerships (within the last five years): |
ACL Capital Limited RiverFort Global Opportunities plc Chiswick School Boustead Agriculture Limited JL Services Limited Pires Investments plc Immotion Group plc Oil and Gas Solutions Limited Greencare Capital plc | Paternoster Resources Limited MX Oil plc Eridge Capital Limited London Capital Group plc Polemos plc Atlas Oil and Gas Limited |
Mr. Lee does not hold any Ordinary Shares in the Company, but has been issued with 2,450,000 warrants over Ordinary Shares in the Company.
~ End ~
For further information please contact:
New Trend Lifestyle plc (to be re-named Conduity Capital Plc) Gregory Collier, Non-Executive Chairman
| +44 (0) 7830 182501 |
SPARK Advisory Partners Limited (Nominated Adviser) Mark Brady Neil Baldwin www.sparkadvisorypartners.com
| +44 (0) 203 368 3551 |
Peterhouse Capital Limited (Broker) Heena Karani/Lucy Williams | +44 (0) 207 496 0930 |
About NTLG
NTLG is an AIM Rule 15 Cash Shell.
Shareholders approved the change of name to Conduity Capital Plc at a General Meeting on 1 October 2020. The Company awaits confirmation of the change of name from the Registrar of Companies, when a further announcement will be made.