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9 Jul 2009 15:58
NOVENTA LIMITED
("Noventa" or the "Company")
[AIM: NVTA]
CHANGES TO NOVENTA'S BOARD OF DIRECTORS (the "Board")
Noventa announces the following changes to the Board:
Mr. Clinton Wood is removed from office as director of the Company with effect from 9:51 am BST on 9 July 2009 by written notice of the holders of more than half the issued shares of the Company deposited at the registered office of the Company, in accordance with the Company's articles of association. Subsequent to his removal as director of the Company, Mr. Clinton Wood ceases to act as Executive Chairman of the Company.
Mr. Eric F. Kohn TD, who was appointed to the Board on 29 June 2009, is appointed as Chairman of the Company with effect from 9 July 2009.
Mr. Patrick Delafield has resigned as director of the Company with effect from 8 July 2009.
Mr. Richard Burt has resigned as director of the Company with effect from 8 July 2009.
The Honourable Peregrine Moncreiffe has resigned as a director of the Company with effect from 9 July 2009.
The following directors have been appointed to the Board with effect from 9 July 2009:
Mr. John N. Allan (aged 59) and Mr. Timothy John Griffiths (aged 61).
Mr. Allan has extensive experience in project management across Europe, his breadth of expertise including regulatory risk, IT, and security. Since 2002 he has worked as project manager for UBS advising on various projects including establishing a premier investment bank in Eastern Europe. This task has seen him manage the creation of a new bank in Russia and the organisation of both facilities and administration in Ukraine and Kazakhstan. He has previously provided security consultancy in UK and internationally. Mr. Allan was a member of the planning team for the mergers of SG Warburg with Swiss Bank Corporation to form SBC Warburg and subsequently SBC Warburg with Union Bank of Switzerland to form UBS Warburg. He was responsible for the year 2000 project for Warburg Dillon Read and continues to manage International Projects.
Mr. Griffiths has 35 years experience in international finance. He is the Founder and an Executive Director of the Chescor Capital Group. His broad experience includes senior appointments as corporate financier and professional accountant. In the 1990s he created, structured and promoted international investment funds and managed accounts for the Chescor Group, which raised over US$750 million. He advised on a number of corporate finance assignments, including both recommended and hostile takeovers of public companies in the UK, as well as undertaking a large number of business valuations in connection with investments by equity funds and as part of M & A assignments. Mr. Griffiths is a Fellow of the Institute of Chartered Accountants in England & Wales, a Member of the Securities Institute, and registered in senior management, compliance and client facing capacities with the UK Financial Services Authority.
Directorships and partnerships in the past five years
Mr. John N. Allan
Current directorships/ partnerships:
Peat-IM Limited
Magna Investments Plc
Past directorships/ partnerships:
UBS Company Reorganisation (Number 1) Plc*
UBS Company Reorganisation (Number 2) Plc*
*UBS Company Reorganisation (number 1) Plc and UBS Company Reorganisation (Number 2) Plc were dissolved within 12 months of Mr Allan ceasing to be a director.
Mr. Timothy John Griffiths
Current directorships/ partnerships:
Chescor Capital Corporation Limited (Mauritius)
Chescor Capital FZ LLC (UAE)
Chescor Capital Consultancy Services India Pvt Limited (India)
Chescor Holdings Limited (England)
All About Brands plc (England)
Brandsmiths Limited (England)
Past directorships/ partnerships:
Chescor Capital Investment Managers Limited (Mauritius)*
*Dissolved in 2009
Save for the information disclosed above there is no other information to be disclosed under schedule 2, paragraph (g) of the AIM rules.
9 July 2009
For further information please contact:
Eric F. Kohn
Noventa Limited
+41 22 8500560
www.noventa.net
Gerard Kisbey-Green
Investec Investment Banking
+44 20 7597 5167
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