20 Jun 2008 07:00
| Press Release | 20 June 2008 |
Interactive Prospect Targeting Holdings Plc
("IPT" or "the Group")
Board Changes
Interactive Prospect Targeting Holdings plc (AIM:IPH), the UK's leading online direct marketing company, announces the retirement from the Board of Non Executive Chairman Colin Lloyd and the immediate appointment of Charles John Nicholas Ward, age 66, to the Board as Executive Chairman.
Nicholas Ward has wide-ranging business experience including consulting roles for 3i and Deutsche Bank. He has been Chairman of four 3i investee companies, Chairman of Ryan Group, Deputy Chairman of Albert E Sharp Holdings and has held a number of Non Executive positions. Much of his recent business career has been spent as a company 'turnaround' specialist and he has helped a number of businesses to restructure and to optimise their performance and value. He is a Fellow of the Institute of Chartered Accountants in England and Wales and a Fellow of the Society of Turnaround Professionals.
The appointment comes as part of IPT's operational review as announced at the Group's Final Results on 15 April 2008. Since then trading has remained firm in the UK and in France as IPT seeks to restore Group profitability. Nicholas Ward will assist with the current review of the Group and IPT looks forward to updating the market following the completion of this review.
Lionel Thain, Chief Executive, commented: "We are delighted that Nicholas is joining the Board; the extensive knowledge and experience that he brings will be vital for the Group in the months ahead. He has an impressive track record in restructuring and driving businesses forward and we are confident that his appointment will assist IPT's return to growth.
"The Board would like to extend its thanks to Colin for all his hard work and dedication to IPT and he leaves with our best wishes for the future."
The Group's Annual General Meeting will be held on Thursday 26th June at which, in accordance with common corporate practice, Nicholas Ward will stand for reelection to the Board and will do so with the full support of the Board and major shareholders.
Nicholas Ward is and has been Director of the following companies and organisations in the last five years:
| Current Directorships | Directorships held in the past five years |
| 77/78 Warwick Square Management company Limited | Gwarex Holdings Limited |
| Ryan (UK) Limited | |
| Ryan International Limited | |
| Ruderal Developments Limited | |
| Ruderal Corporation Limited | |
| Crouch Mining Limited | |
| Green Coal Global Limited | |
| ADAS International Limited | |
| ADAS Research & Development Limited | |
| ADAS Holdings Limited | |
| ADAS Environment Limited | |
| ADAS UK Limited | |
| British Liver Trust Limited | |
| Society of Turnaround Professionals Limited | |
| The Corgi Trust Limited | |
| UPP Projects Limited |
In line with information requiring disclosure under paragraph 2 (g) (v) of Schedule 2 of the AIM Rules, Nicholas was Director of Ryan (UK) Ltd, Ryan International Limited, Ruderal Developments Limited and Ruderal Corporation Limited all of which were liquidated in 2004, Crouch Mining Limited which went into administration in 2003 and Wallace International Group Limited which went into receivership in 1995. There are no further matters which are required to be announced with regard to this appointment under paragraph (g) of Schedule 2 of the AIM Rules.
- Ends -
For further information:
| IPT Holdings plc | |
| Lionel Thain, Chief Executive | Tel: +44 (0) 20 7932 4101 |
| Canaccord Adams | |
| Mark Williams, Corporate Finance | Tel: +44 (0) 20 7050 6500 |
| mark.williams@canaccordadams.com | www.canaccordadams.com |
Media enquiries:
| Abchurch | |
| Charlie Jack / Jack Ballantyne | Tel: +44 (0) 20 7398 7700 |
| charlie.jack@abchurch-group.com | www.abchurch-group.com |