Tissue Regenix Group Regulatory News (TRX)

3 Jul 2006 07:02

Torex Retail PLC03 July 2006 3 July 2006 Torex Retail Plc ("Torex Retail" or "the Group") Appointment of Mike Carrell as Chief Technology Officer Torex Retail, an international market leader in the provision of innovativeretail IT systems, is pleased to announce the appointment of Mike Carrell to theboard of directors of the Group as Chief Technology Officer. Mr Carrell has agreed to enter into a service contract with Torex Retail oncompletion of the acquisition of Retail-J Limited. The service contract will beterminable by either party on 6 months written notice. Mr Carrell will beentitled to an annual salary of £240,000 which shall be reviewed annually and hemay, at the discretion of the Board, be entitled to participate in any bonusscheme applicable to employees of Mr Carrell's status as Torex Retail mayoperate from time to time. Mr Carrell will also be entitled to the normal benefits provided by Torex Retailfrom time to time to employees of similar status, including a company car or carallowance, and may participate in the life assurance, medical expenses andmedical health schemes operated by Torex Retail. Mr Carrell may join TorexRetail's contributory pension scheme and Torex Retail will contribute an amountof no less than 10 per cent. of his salary to such scheme on his behalf. MrCarrell will also be eligible to participate in Torex Retail's share optionplans subject to applicable performance conditions. Ed Dayan will remain on the Board focussing on the Group's hospitalityactivities and in particular on opportunities in the quick service restaurantmarket following the recent acquisition of Savista. For further information please contact: Torex Retail +44 (0) 870 300 6061Chris Moore, Executive ChairmanMark Pearman, Finance Director Citigate Dewe Rogerson +44 (0) 20 7638 9571Ginny Pulbrook Executive DirectorSebastian Hoyle, Associate Director This information is provided by RNS The company news service from the London Stock Exchange