2 Mar 2010 17:11
Directex Realisations Plc
("DXR", "the Company" or "the Group")
(Formerly Interactive Prospect Targeting Holdings Plc ("IPTH"))
Directorate Change
Following the latest receipt of proxies yesterday ahead of the General Meeting to be held on 4 March 2010, the Company does not expect Resolution B, in respect of the de-listing of the Company from AIM, to be passed.
The de-listing is central to the strategy put in place by the Executive Chairman, Nicholas Ward, to realise and return value to shareholders. In the event that the Company is not de-listed the strategy cannot be implemented.
In light of this, and irrespective of the result of the vote in respect of Resolution 1 concerning his own position, Nicholas Ward decided yesterday to step down from the Board and leave the Company with immediate effect.
The Board has agreed to waive Nicholas Ward's contractual notice period and he, in turn, has waived any entitlement he may have had to any monies in lieu of notice.
In accepting his resignation, the Board thanked Nicholas Ward for his considerable achievement over the last 20 months without which the Group would almost certainly have become insolvent and repeated its view that the recovery of any shareholder value was a major achievement.
2 March 2010
Enquiries:
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Directex Realisations |
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| Martin Purvis, Director & Company Secretary | Tel: +44 (0) 20 7932 4410 |
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| Canaccord Adams | Tel: +44 (0) 20 7050 6500 |
| Mark Williams |
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| Bhavesh Patel |
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| College Hill | Tel: +44 (0) 20 7457 2020 |
| Mark Garraway |
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| Adam Aljewicz |
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