Directorate Change

23 Nov 2007 07:01

Medsea Estates Group PLC23 November 2007 Medsea Estates Group plc ("Medsea" or "the Company") Board Appointment Medsea Estates Group plc (AIM: MEA), the Mediterranean-based property group, ispleased to announce the appointment of Neil Emmet Craven as a non-executivedirector with effect from 1st December 2007. Mr Craven holds 1 million shares inthe Company representing 1.3% of the issued shares. Neil Craven, 39, has many years' experience at senior management levels intelecommunications and fund management. He was part of the founding managementteam of Carrier1 International S.A., a NASDAQ-listed pan-European provider oftelecoms services to internet service providers and other telecom companieswhere he served as vice-president in charge of business development from 1998 to2003. During this time, he was also responsible for the pan-European broadbandbusiness and for capital expenditure across the group. In 2003, he moved intofund management and from late 2004 to the end of 2006 he was a partner in aSwiss-based asset management and corporate finance boutique where he wasresponsible for establishing and managing a hedge fund focussed on specialsituations and small cap equities. He is currently a private investor focusingon small-cap equities. He holds a degree in computer engineering from TrinityCollege Dublin and an MBA from the Rotterdam School of Management. - Ends - For further information:Medsea Estates Group plcTony Gatehouse, Chairman Tel: +34 96 570 40 02Juan Carlos Rodriguez Martinez, Chief Executive HB CorporateEdward Hutton / Rachel Kane/Imran Ahmad Tel: +44 (0) 20 7510 8600 Media enquiries:Threadneedle CommunicationsAlex White/Josh Royston Tel: +44 (0) 20 7936 9665 Appendix re AIM Rules requirements: In the last five years, Mr Craven was a partner of Azemos Partner AG (October 2004 to December 2006) and managing director of Carrier1 International GmbH ("GmbH"), the Swiss subsidiary of Carrier1 International S.A (January 2002 to February 2003). He was appointed to the latter role shortly before GmbH filed for protection from creditors resulting from Carrier1 International S.A.'s filing for insolvency in February 2002. In that role, he led the liquidation of the group's assets and businesses as well as the reduction of its liabilities. The insolvency resulted from the inability of Carrier1 International S.A. (for technical reasons under Luxembourg law) to proceed with a financial restructuring with bondholders. There is no further information to disclose in accordance with Schedule Two (g) of the AIM Rules. This information is provided by RNS The company news service from the London Stock Exchange