TIDMADIL
RNS Number : 7008B
Adili PLC
30 October 2009
AIM: ADIL
Adili plc
("Adili" or the "Company")
Resignation of Director, Store Openings
Adili plc continues to restructure its cost base in all areas and as part of
this process, Caroline Gitsham has left the Company and resigned as a director
of Adili plc. We would like to thank Caroline for her contribution over the last
11 months.
The restructuring includes terminating leases to consolidate property and the
renegotiation of all major contracts in the operational and marketing areas.
The opening of the retail stores in Dorchester and Central London are on target
for this Saturday and next Friday respectively. The Company's strategy is
unchanged. This will be a significant step in the Company's progress.
Adam Smith, CEO commented:
"This activity is in line with the financial plan that was backed by the new and
existing shareholders in the funding round in August and makes us much more
efficient as a company, whilst not undermining the capability to achieve our
objectives. I would like to thank the staff, both past and present, for their
commitment and contribution to the Company's continued growth."
Enquiries:
+----------------------------+--------------------------+------------------+
| Adili plc | Adam Smith, Chief | T: 01258 837 437 |
| | Executive Officer | |
| | Mark Swire, Finance | |
| | Director | |
+----------------------------+--------------------------+------------------+
| | | |
+----------------------------+--------------------------+------------------+
| Seymour Pierce | Nicola Marrin | T: 020 7107 8000 |
| | Catherine Leftley | |
+----------------------------+--------------------------+------------------+
| | | |
+----------------------------+--------------------------+------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
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