PHRM.L Regulatory News (PHRM)

5 Dec 2005 07:00

5 December 2005 121Media, Inc. Directorate changes 121Media, Inc., the contextual online advertising company ("121Media" or "theCompany"), announces the following Board changes, with effect from today'sdate.David Andrew Gwozdz, aged 41, currently Senior Vice President, BusinessDevelopment and Sales of 121Media, has been appointed to the Board as aDirector.David, who joined 121Media in August 2005, was one of the founding team ofDoubleClick, the NASDAQ-listed internet advertising solutions corporationrecently acquired by a private equity consortium for $1.1 billion. He devisedand implemented DoubleClick's original media sales products and strategies, andbuilt, trained and managed multiple industry leading sales teams in all areasof online advertising, sponsorships, promotions and e-mail. He also initiatedand managed high level relationships with some of the US's top marketersincluding IBM, Disney, Intel, Gap, Microsoft, Coca-cola, Dell, AmericanAirlines and their advertising agencies.Timothy James Ewart Bowen ("Tim"), aged 41, has been appointed to the Board asa Director and as Chief Financial Officer. Tim will devote at least half histime to the conduct of the affairs of the Company.Tim has over 10 years experience of managing fast growing IT-relatedbusinesses. From 2000 until earlier this year, he was Chief Operating Officerand Chief Financial Officer of IDOX plc, the information management group.During his five years at IDOX he played a significant role in the company'slisting on the AIM and oversaw three subsequent acquisitions and relatedfundraisings.Previously Tim was Chief Financial Officer of Channelfly plc, the music andmedia group which listed on AIM in 1999. From 1995 to 1999, he was FinanceDirector and Company Secretary of Definitive Group, a privately-owned ITservices group.Tim is also a non-executive Director of Hitec (Laboratories) Limited, aprivately owned software company where he is responsible for corporate financeactivities.David Mattey has stepped down from his role as non-executive Director, due tothe time commitment required by his other business interests.Ahmet Can has stepped down from his position as a Director, but will remainwith the Company as Senior Vice President, Corporate Development.David Svendsen, Chairman of 121Media, said:"We are delighted to welcome David Gwozdz and Tim Bowen to the Board.David has done an outstanding job since he joined us earlier this year, both inbuilding up our business development and sales capabilities and in gainingtraction for us in the enormously valuable US ISP market. His appointment tothe Board reflects his contribution to date and the critical importance ofdeveloping our ISP partnerships going forward.Tim has a strong track record of the financial management of fast growingquoted companies at Board level. 121Media has matured considerably in the pasttwelve months and now is the right time to formalise the executive role of CFO- a role for which he is ideally qualified.We are very grateful to David Mattey for all that he has done for 121Media and,in particular, for his guidance on and involvement in our AIM flotation in2004.We are also very grateful to Ahmet Can for the leading role he has played todate in establishing our US infrastructure and helping to build up the US team.We are delighted that we will be able to continue to call on his considerableindustry experience in his new role within Corporate Development.These changes leave us with a Board of the appropriate size and with the rightexperience to capitalise fully on the significant opportunities that exist forus in the provision of high value targeted advertising technology to InternetService providers." - Ends - For further information contact:John Olsen / Barnaby Fry Hogarth Partnership Tel: 020 7357 9477 Kent Ertugrul / Tim 121 Media, Inc Tel: 020 7484 5391 Bowen Further details relating to the Directors;At the date of this announcement, David Gwozdz holds 3,400 Ordinary Shares,representing 0.04 per cent. of the issued share capital of 121 Media, and75,000 options to subscribe for Ordinary Shares at an exercise price of ‚£1.715per share exercisable between 3 October 2005 and 3 October 2015.He is currently a partner of Seacliff Ventures LLC and FlyFish Media LLC.There is no further information to be disclosed in respect of David Gwozdzunder paragraph (g) of Schedule 2 of the AIM Rules.At the date of this announcement, Tim Bowen holds 5,000 Ordinary Shares,representing 0.06 per cent. of the issued share capital of 121 Media, and100,000 options to subscribe for Ordinary Shares at an exercise price of ‚£1.58per share exercisable between 1 December 2005 and 1 December 2015.He is currently a director of Bowen Limited, Hitec (Laboratories) Limited andManor Lane Management Limited.In the past five years he has been a director of IDOX plc, TFPL Limited, StewLimited, The Planning Exchange Limited, Nettgain Solutions Limited, MandoformsLimited, Information into Intelligence Limited, i-documentsystems TrusteesLimited, IDOX Information Services Limited and i-documentsystems Limited.There is no further information to be disclosed in respect of Tim Bowen underparagraph (g) of Schedule 2 of the AIM Rules.END121 MEDIA INC