Board Appointments

8 Feb 2007 07:00

Torex Retail PLC07 February 2007 7 February 2007 Torex retail plc (the "Company") Board Appointments Torex Retail plc, a leading global retail systems provider, today provides anupdate following the announcement of management actions issued on 31 January2007. The Company announces that Mr Keith Taylor has been appointed to the main Boardwith immediate effect as Acting Chief Executive Officer. Keith Taylor has justcompleted 7 months as Turnaround Director in the NHS. His IT sector experiencehas been at Morse Plc where he initially integrated the Diagonal acquisitionbefore going on to radically change their reseller business, which remains asuccessful service-led company. He was also Chief Operating Officer at Admiralplc where he was responsible for transforming the Group into a wholly integratedbusiness before its onward sale to CMG. Mr Iain Lynam has also been appointed to the main Board with immediate effectwith specific responsibility for managing any restructuring of the businesswhich may be appropriate. The Company also confirms that it remains in dialogue with its lenders whocontinue to be supportive of the restructuring process. The Board would like to take the opportunity to thank its employees, customersand suppliers for their support during this challenging time. The Company willmake a further announcement with a full financial update as soon as possible. - Ends - Enquiries: Keith TaylorActing CEO, Torex Retail plcTel: 0870 300 6061 Ginny Pulbrook / Seb Hoyle / Lucie HollowayCitigate Dewe RogersonTel: 020 7638 9571 Additional details are set out below: Keith Wilhall Taylor (age 58)Present directorships or partnerships: Crispins Partnership Ltd Directorships or partnerships in previous five years: Meta Management ServicesLimited, Aktrion Plus Limited, QE Recruitment Limited, QE Consultancy Limited,Aktrion Group Limited, QE International Limited, Aktrion Trustees Limited,Aktrion Manufacturing Support Services Limited, Panini (Europe) ltd Details of companies entering insolvency whilst a director or within 12 monthsof resignation: Panini (Europe) Limited - creditors voluntary liquidation No unspent convictions, bankruptcy or IVAs, no receivership of assets, no publiccriticism by regulatory bodies Robert Iain Lynam (age 54) Present directorships or partnerships: Combe Bank School Educational Trust,Imago Investments Limited, Citex UK Holdings Limited, Citex ProfessionalServices Limited, Citex Group Limited, Society of Turnaround Professionals, NSMT Ventures LimitedAaronite Partners Limited Directorships or partnerships in previous five years: Hudson EngineeringServices Limited, WRM Logistics Limited, Cbora Freehold Limited, ScriptorServices Limited, Sandiford Road Limited, GHE2 (2002) Limited, Unis GroupLimited, Citex Water & Facilities Limited, Bucknall Pck Limited, GH ElectricalGroup Limited, Bucknall Austin Project Management Services Limited, Frost BevanLimited, Tapley & Edworthy Limited,Marlin Construction Management Limited, BA Realisations Limited, Bucknall AustinFerris Watson Limited, Simok Limited, Unis Limited, FBA Limited, Citex Property& Facilities Limited, Frost Bevan Holdings Limited, Frost Bevan PartnershipLimited,Bucknall Sterling Programme Management Limited, Bucknall Limited, Citex ProjectDelivery Limited, VSI Limited, Sigma Building Solutions Limited, CitexInternational Holdings Limited, Citex Group Services Limited, Details of companies entering insolvency whilst a director or within 12 monthsof resignation: GH Electrical Group Limited - receivership, GHE2 (2002) Limited- receivership, Sandiford Road Limited - liquidation, HMG (South) Limited -receivership,HMG (Clearwater) Limited - receivership, HMG (London) Limited - receivership,HMG Holdings Limited - receivership, HMG (Thames) Limited - receivership,HMG (Midlands) Limited - receivership, Avidmoor Limited - receivership, HancockSouthern Limited -receivership, Hancock Group Limited - receivership, Citex UKHoldings Limited - liquidation, Citex Professional Services Limited -liquidation, Citex Group Limited - liquidation, No unspent convictions, bankruptcy or IVAs, no receivership of assets, no publiccriticism by regulatory bodies There is nothing further to disclose in relation to their appointment pursuantto Rule 17 of the AIM Rules. This information is provided by RNS The company news service from the London Stock Exchange