Directorate Change (3324A)
March 29 2012 - 3:04AM
UK Regulatory
TIDMMBW
RNS Number : 3324A
Mobilewave Group PLC
29 March 2012
29 March 2012
MobileWave Group plc
("MobileWave" or the "Company")
Directorate Change
The Board of MobileWave wish to advise shareholders that Kurt
Pakendorf has resigned from the Board and from his position as CEO
for personal reasons. The Board has accepted his resignation and
both parties have agreed that Mr Pakendorf's employment contract be
terminated with immediate effect. Rory Stear, the Executive
Chairman of the Company, has assumed the CEO role in addition to
his duties as Chairman. Mr Stear will be supported by Arthur
Holcombe the Chief Revenue Officer who will lead the sales,
marketing and product development function and Steve Hearn the
Group Financial Manager.
The Board is confident in the Company's strategy and the ability
of the restructured management team, under the leadership of Rory
Stear, to execute that strategy.
The Company looks forward to receiving the contracted for
convertible preference share investments in the weeks ahead, as
shareholders have been previously advised, as well as concluding
the Ariose Software Pvt Ltd ("Ariose") acquisition, which was
announced on 12 December 2011.
Rory Stear has consulted with both the investors and the vendors
of Ariose in the recent past and has been ensured by them that both
transactions are on course for completion.
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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