Triad Regulatory News (TRD)

6 Nov 2006 07:00

Triad Group Plc05 November 2006 Statement by Triad Group Plc Triad Group Plc and Ms Mira Makar announced today that they have reached asettlement of their dispute presently before the employment tribunal. The directors of Triad Group Plc accept that Ms Makar had a reasonable basis forconcerns on a number of financial issues. These issues were referred to by theChairman in his statement of July 2005 and by the directors in the company'sAnnual Report and Accounts for 2005. The directors also accept that Ms Makaracted properly in drawing attention to these matters. The directors of thecompany accept that Ms Makar had no direct involvement in the issues referred toabove; the directors also recognise that between 31 March 2003 and 31 March2005, during which period Ms Makar was CEO, the company's profitability rosesubstantially. The events leading to her dismissal were unfortunate and the directors regretthe distress Ms Makar has suffered. The terms of the settlement are confidential but include a payment to Ms Makar. Ms Makar wishes the company every success in the future. This information is provided by RNS The company news service from the London Stock Exchange