RNS Number:9883R
London Asia Capital PLC
09 April 2008
London Asia Capital Plc ("London Asia" or the "Company")
Board Changes
London Asia Capital Plc (LDC), the Asian focused investment company, is pleased
to announce the appointment of George Patrick Allnutt, aged 62, currently a non
executive Director, as acting Managing Director of London Asia pending the
appointment of a new executive Director. Mr. Allnutt's appointment is effective
from 4th April 2008.
As part of planned board changes, the Company also announces today the
retirement of Sir David Brewer as a non executive Director, effective from 4th
April 2008. Another appointment will be made and announced in due course.
George Allnutt has started and owned a number of successful private businesses,
as well as being a past or present director of a number of AIM listed and PLUS
listed companies. He has particular experience of guiding companies through
periods of change and development, often in challenging circumstances.
Mr. Allnutt currently owns 428,920 ordinary shares in the Company. George
Allnutt is also a director and shareholder of Photo Distribution Limited and
Penhale Estates Limited, which hold 4,016,680 and 500,000 ordinary shares
respectively in the Company.
Under AIM Rule 17, there are no subsequent changes to the details already
disclosed pursuant to sub-paragraphs (iii) to (viii) inclusive of paragraph (g)
of Schedule Two.
George Allnutt commented: "I share the disappointment of shareholders at the
recent performance of the Company's share price and the slow pace of selling
investments which remains the board's policy. I will begin by reviewing all
investee companies in order to confirm their valuation and the best exit route
to realise value for shareholders. I would also like to thank Sir David Brewer
for his service to the Company and wish him well in his future activities."
Enquiries:
London Asia Capital:
George Allnutt Tel: 012 0278 6626
Seymour Pierce Limited:
Matt Thomas Tel: 020 7107 8000
This information is provided by RNS
The company news service from the London Stock Exchange
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