TSTR.L Regulatory News (TSTR)

18 May 2005 07:01

Canisp PLC18 May 2005 Canisp plc ("Canisp" or "the Company") Directorate Change and Reorganisation of Central Management Costs London, 18 May 2005, Canisp, the fixed line telephony services group, announcesthat Justin Bygott-Webb has resigned from the Board of the Company and retains aconsultancy role, primarily with a view to identifying certain potential futureacquisitions. In January the Company announced the sale of its contracts and customer baseassets relating to pre-paid and post-paid calling cards and since then, in linewith its stated strategy, it has streamlined the central management overhead ofthe business, focusing on the provision of fixed line telephony servicespredominantly to the SME market, including wholesale line rental. Commenting on the changes, Mike Hirschfield, Executive Director, said: "We have achieved cost savings through the reorganisation of our management teamfollowing the sale of a sub-set of our customer base. I am pleased that Justinis able to retain a consultancy role, particularly as we continue to look forfurther acquisitions to complement our drive for organic growth." end This information is provided by RNS The company news service from the London Stock Exchange