React Group Regulatory News (REAT)

VERDES MANAGEMENT PLC

Appointment of Richard Phillips as a non-executive director

Verdes Management plc (AIM: VMP), the specialist turnaround services provider, is pleased to confirm the appointment of Richard Phillips as an additional non-executive director with immediate effect.

Richard is an experienced entrepreneur. He has established and operated a number of businesses from inception to successful exit and he has been nominated Entrepreneur of the Year at the plc awards. His most recent venture was Beehive Day Nurseries Limited which he founded in 1995 and sold in 2006.

Prior to that Richard spent 15 years successfully rescuing and turning round businesses in a quoted company environment, with senior board positions at each of Triplex Lloyd Plc and Benson Group Plc where he became executive Chairman.

Chief Executive Adam Webb commented:

"I am delighted that we are able to further strengthen our Board with the appointment of Richard Phillips, who brings a great deal of relevant experience in rescue and turnaround as well as in establishing, running and successfully exiting from businesses. His expertise

will be invaluable to Verdes as we seek to develop and capitalise upon opportunities presented by the current market environment"

The following information is given in accordance with paragraph (f) schedule Two, the AIM Rules for Companies:

Full name and age:

John Richard Martin Phillips, 55

Current Directorships/Partnerships:

Prepcare LLP

Lawford Properties LLP

Previous directorships over the last five years: 

ABA Corporate Finance Limited

Beehive Day Nurseries Limited

There is no other information requiring to be included in accordance with paragraph (f), schedule Two, the AIM Rules for Companies.

For photographs of Richard Phillips, please contact Financial Dynamics.