Board Change & Holding in Co
05 December 2007 - 1:51AM
UK Regulatory
RNS Number:1487J
Capital Ideas PLC
04 December 2007
Capital Ideas plc (the "Company")
Directorate Change and Holding(s) in Company
The Company has been notified that, on 3 December 2007, Iorwerth Alun Williams
("Mr Williams") sold his entire holding of 26,846,591 ordinary shares in the
Company ("Ordinary Shares") and Julie Williams ("Mrs Williams") sold her entire
interest of 26,846,591 Ordinary Shares to Glenburnie Investments Limited
("Glenburnie") an investment company based in the British Virgin Islands, for an
aggregate price of #110,000 (approximately 0.2p per Ordinary Share). Glenburnie
is a company which focuses on investments in listed and unlisted growth
businesses. Following the sale, Mr and Mrs Williams no longer retain any
interest in the share capital of the Company and Glenburnie is interested in a
total of 53,693,182 Ordinary Shares, representing 22.74% of the present issued
share capital of the Company
Subsequent to the sale of his interest in the Company, Mr Williams resigned his
position as a director of the Company with immediate effect to pursue other
business interests. The board wishes him well with these endeavours
On resigning, the Company agreed to make payments to Alun Williams of #50,000,
which was due to him pursuant to the Company's bonus scheme, together with a
further #30,000 for loss of office. Of this amount, #40,000 was paid on his
resignation with the #40,000 balance being payable on 31 December 2007.
The Company is pleased to announce the appointment of Anita Madhas, the present
Company Secretary, as a Finance Director of the Company with effect from 30
November 2007. Anita, aged 33, brings with her a wealth of financial experience
with both listed and private companies. She is a director of the following
companies:
Ruler Limited
Ubet2win PLC
Within the last five years she has also been a director of or partner in:
7 Group PLC
7 Private Equity Limited
Central Associates Limited
Millhaven Consultants
World Franchise Solutions Limited
There is no further information to be disclosed under Schedule 2(g) of the AIM
Rules.
Following this appointment and the resignation of Mr Williams, the directors of
the Company are:
Renwick Haddow
Anita Madhas
For further information, please contact:
Renwick Haddow Capital Ideas plc 020 7623 3345
David Youngman WH Ireland Limited 0161 832 2174
Ian Callaway SVS Securities plc 020 7638 5600
This information is provided by RNS
The company news service from the London Stock Exchange
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