Resolute Mining Regulatory News (RSG)

23 May 2005 11:00

Reliance Security Group PLC23 May 2005 Reliance Security Group plc ("Reliance") Appointment of new Group Managing Director The Directors of Reliance are pleased to announce the appointment of JulianNicholls as Group Managing Director with effect from 13 June 2005. Mr Nicholls has extensive experience of managing substantial companies providingbusiness-to-business services. He was previously managing director of thefacilities management and support service businesses within BET and of theEuropean moving services business within National Freight Corporation, and morerecently has been chief executive of two venture capital backed groups. Commenting on the appointment, Brian Kingham, Chairman, said: "Julian brings to Reliance a record of success as a strategist and developer ofbusinesses. We have reached a scale and diversity within growing markets whichoffer unique opportunity to create higher added value products and serviceswhere Julian has special skills." Note: Reliance is an established market leader in the provision of contract security,facilities management, support services and in business process outsourcing.Reliance employs over 12,000 people from a network of offices throughout the UK. Enquiries: Brian Kingham 020 7730 9716Chairman Jeremy Simon 01895 205036Company Secretary Regulatory DisclosureThere are no details needing disclosure for Julian Nicholls under paragraph 16.4of the Listing Rules other than as set out below in respect of paragraph 6.F.2(d).In September 2003, Julian Nicholls was appointed to the boards of The PimpernelGroup Limited and its subsidiary companies ("Pimpernel"). Pimpernel, a privatelyowned group, was the largest manufacturer and distributor of table mats in theUK (Turnover: £23m for the year to 31 December 2003). His role was to try andrestore its financial position following an unsuccessful management buy-out.By the end of October 2004, despite having made considerable progress instabilising the group, it became apparent that Pimpernel would not be able tocontinue to service its debt and that the preferred course of action for itsstakeholders was to sell the underlying business.A purchaser was ultimately identified and the sale completed in February 2005.In view of the scale of Pimpernel's debt, there were no offers for its sharecapital and the sale was accordingly completed through the medium of anadministrative receivership. The receivership has yet to be closed but, sinceJulian Nicholls took office, the position of Pimpernel's creditors hassubstantially improved and the jobs of its workforce have been preserved. This information is provided by RNS The company news service from the London Stock Exchange