Board Changes & Appointment of Nominated Adviser (4771B)
17 April 2012 - 7:00PM
UK Regulatory
TIDMPFO
RNS Number : 4771B
Prime Focus London PLC
17 April 2012
17 April 2012
Prime Focus London Plc
("Prime Focus" or the "Company")
Board Changes
Appointment of Nominated Adviser
Board changes
The Board of Prime Focus London plc, the visual entertainment
services group, is pleased to announce the appointment of Bernard
Kumeta as Chief Executive Officer and Christopher Honeyborne as
Non-Executive Director. As part of the changes to the Company's
board, which are with immediate effect, Naresh Malhotra and
Rivkaran Chadha have resigned as directors of the Company. The
Company's board as a result comprises the following:
Ramakrishnan Sankaranarayanan Non-executive
Chairman
Bernard Kumeta Chief Executive
Officer
Christopher Honeyborne Non-executive
Director
Shivkumar Venkatachalam Non-Executive
Director
------------------------------ ----------------
Bernard Kumeta, 51, is a Chartered Accountant who has worked in
industry since 1987, initially for a subsidiary of Simon
Engineering plc and then for GEC Alsthom in France. He subsequently
joined a division of William Baird plc, where at the age of 29 he
gained his first board appointment. In 1996, he joined Findel PLC,
quickly progressing into a number of general management roles. In
2001, he led a GBP20m management buyout of 2 companies from Findel.
Through a series of acquisitions, he re-positioned the business to
be a large-scale multi-channel distributor of home entertainment
consumer goods. He carried out a wide-ranging rationalisation to
consolidate the number of operational sites and reduce headcount
and associated costs. The business was then sold back to Findel and
he left the company in 2010. Since September 2011 he has been
acting as a consultant to Prime Focus London plc working with
senior management on business development projects.
Christopher Honeyborne, 71, is an experienced AIM company
director and adviser generally to SMEs in the media, entertainment,
engineering and financial sectors, with a focus to management
restructuring and fundraising. After studying Natural Sciences at
the University of Cambridge and a research career at the
Universities of Reading and Bristol, Dr Honeyborne spent some 20
years working in the financial services sector in a number of
roles, including with Lazard Brothers, Banque Paribas (now a major
part of BNP-Paribas) and the Bank of Butterfield. Dr Honeyborne has
since held Board appointments with a range of private and publicly
listed companies. Most recently, Dr Honeyborne was Chairman of the
Dyson Group plc, and of Zoo Digital Group plc. He was previously
Chairman of Gremlin Group plc and of the Aspect Group , which
became part of LBIcon AB of which he was a non-executive Director.
He has also acted as non-executive director to, amongst others,
Yorkshire Water Plc, Birse Group plc, Kunick plc, Rensburg Aim VCT
plc, Bannatyne Fitness Limited, and Cartier Limited, the UK
subsidiary of the luxury goods company. Dr Honeyborne has held a
number of additional positions, including a board membership with
the Yorkshire region of the Prince's Youth Business Trust.
Appointment of Nominated Adviser
The Company is pleased to announce the appointment of its
Broker, Northland Capital Partners Limited, as Nominated Adviser
with immediate effect.
For further information, contact:
Prime Focus London plc
Bernard Kumeta Tel: 020 7565 1000
Northland Capital Partners
Limited (Nominated Adviser
and Broker)
Tim Metcalfe / Edward Tel: 020 7796 8800
Hutton / Lauren Kettle
Bernard John Kumeta
Current directorships Past directorships held
within the last 5 years
Avid Management Services
Limited Choices UK Group Limited
Bluestone Property Club Centre Limited
Trading Limited Harness Hill Trustee Company
M & B Estates Limited Limited
Pavakeal Limited West Auck No. 38 Limited
St. Giles Hospice Webb Group Holdco Limited
Webb Group Limited
Webb Ivory (Burton) Limited
Webb Ivory Properties
Limited
Webb TMD Limited
Christopher Henry Bruce Honeyborne
Current directorships Past directorships held
within the last 5 years
Brockhill Limited
Valtherm Limited Bede plc
Beepart Limited
Cameron Richard and Smith
(Holdings) Limited
D. Duddell, Limited
Dyson Group plc
Dyson Industries Limited
Dyson TPM Ltd
Dytech Corporation Limited
Eastgate European Enterprises
Ltd
Hi-Por Ceramics Limited
Hot H 2002 Ltd
Hot PP 2002 Ltd
IMCO (62000) Limited
Intelprop Limited
J & J Dyson Limited
John Knowles & Co (Wooden
Box) Limited
Matica plc
Pickford, Holland & Co.
Limited
Saffil Automotive Ltd
Saffil Limited
(The) Builders Centre (Sheffield)
Limited
Sandygate Motor Services
Limited
ZOO Digital Group plc
On 11 February 1992, Lynne Stern Associates Limited, a company
of which Mr Honeyborne was a director, was placed into liquidation
and subsequently dissolved on 11 July 1996 via a creditors'
voluntary winding up.
Until December 1992, Mr Honeyborne was a director of both Rapid
9000 Limited and Rapid 9100 Limited, formerly William Comyns &
Sons Ltd and Comyns of London Limited, respectively. On 26 January
1993, the group of which Rapid 9000 Limited and Rapid 9100 Limited
formed a part was placed into creditors' voluntary liquidation and
subsequently dissolved with a total deficiency to creditors of
GBP320,506.
On 10 September 2007, Mr Honeyborne resigned as a director of
Cameron Richard and Smith (Holdings) Limited. In early 2008, the
company was placed into administration and subsequently dissolved
on 9 February 2010 via a creditors' voluntary winding up.
Mr Honeyborne was appointed as a director of Bede plc on 13
October 2000, which was placed into administration and subsequently
dissolved on 3 November 2010 with no deficiencies to creditors.
On 9 March 2010 Mr Honeyborne was appointed as a director of
Valtherm Limited, a company incorporated solely for the purpose of
a debt and capital restructuring of the Dyson Group, of which it
formed part, required for the benefit of the Dyson Group and its
creditors. The Company became the sole participating employer in
the Dyson Group Pension Fund on 23 November 2010, with
responsibility for the remaining section 75 debt of the fund
(estimated to be approximately GBP44m as at 30 September 2009).
Valtherm Limited was unable to meet these actual and contingent
liabilities (having no assets) and was, therefore, placed into
creditors' voluntary liquidation in December 2010, being a relevant
insolvency event for the purposes of section 120 of the Pensions
Act 2004.
Neither Mr Kumeta or Mr Honeyborne currently hold any ordinary
shares in the capital of the Company.
No further information with respect to Bernard John Kumeta or
Christopher Henry Bruce Honeyborne is required to be disclosed in
accordance with Schedule Two (g) of the AIM Rules for
Companies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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