MBW Mobilewave

TIDMMBW

RNS Number : 2003I

Mobilewave Group PLC

10 June 2011

10 June 2011

MobileWave Group plc

("MobileWave" or the "Company")

Directorate change

MobileWave Group plc is pleased to announce the appointment of Kurt Pakendorf as a director and CEO of the Company with immediate effect.

Kurt Pakendorf was, for three and-a-half years prior to his appointment by MobileWave, the Vice President & General Counsel at Telekinesys Research Limited t/a Havok ("Havok")., an Intel owned and separately operated company, and was a member of that company's executive management team. Havok is a middleware solutions provider to the video game and film industries and is the preferred interactive software provider and partner to some of the world's leading game developers. Prior to Havok Mr. Pakendorf was Assistant General Counsel of i2 Technologies, Inc., a NASDAQ quoted public supply chain software and services company based in Dallas, Texas, USA. He served with the United Nations prior to this as a Legal Officer for the United Nations Interim Administration Mission in Kosovo, worked in London and Brussels for the international law firm Denton Wilde Sapte LLP and practiced as an attorney in South Africa.

Rory Stear, Chairman commented: "Kurt Pakendorf is a highly skilled and experienced technology executive who will add depth to an already strong management team. The board is very excited that he has agreed to join our Company and we are confident that he will provide strong overall leadership and will be able execute the Company's identified growth strategy. This is significant appointment for MobileWave and I look forward to working closely with Kurt going forward."

Mr. Pakendorf will be issued with a total of 10,000,000 Convertible Preference Shares of 1 pence each ("CPS") in lieu of salary in four equal tranches during the first four months of his appointment. If Mr Pakendorf elects to convert the CPS' (before their automatic conversion when the share price of the ordinary shares reaches 7 pence per share) this will be done at a price of 5 pence per share and he will hold 2,000,000 ordinary shares in the Company representing 2.53 per cent of the current issued share capital of the Company. The CPS' are issued on identical terms as were approved by shareholders at the General Meeting held by the Company on 31 May 2011. This share issue is deemed to be a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies (the "AIM Rules"). The Independent Directors of the Company, who are independent of this deemed related party transaction for the purposes of the AIM Rules, having consulted with Charles Stanley Securities (the Company's Nominated Adviser), consider this award of CPS' to Mr. Pakendorf in lieu of salary to be fair and reasonable insofar as the Company's shareholders are concerned.

Kurt Pakendorf, aged 45, holds or has held in the last five years the following directorships:

Current

uvSpectra Solutions LLC

Previous

Havok K.K.

i2 Technologies NV

i2 Technologies A/S

i2 Technologies Finland Oy Ltd.

i2 Technologies GmbH

i2 Technologies (Netherlands) BV

i2 Technologies S.r.l.

i2 Technologies Sweden AB

i2 Technologies Limited

Save as disclosed above, there is no further information to disclose in respect of Kurt Pakendorf under Schedule 2 paragraph (g) of the AIM Rules.

For further information, please contact:

MobileWave Group plc rstear@mobilewave.com

Rory Stear, Chairman

Charles Stanley Securities 020 7149 6000

Nominated Adviser & Broker

Dugald J.Carlean / Carl Holmes

This information is provided by RNS

The company news service from the London Stock Exchange

END

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