LONDON, March 14, 2012 /PRNewswire/ --
WorldSpreads announces that Conor
Foley, Chief Executive, has resigned from the Board of
WorldSpreads with immediate effect to pursue other interests. He
retains his position as the largest shareholder in the Group, and
remains fully supportive of the Group's strategy and expansion
plans.
Lindsay McNeile who has been
Non-Executive Chairman of WorldSpreads and of WorldSpreads Limited,
the Group's FSA regulated London
subsidiary, since 2007, will become Executive Chairman of both
companies with immediate effect.
Dominic Bacon who has served
since 2010 as General Counsel and Group Head of Compliance has also
been appointed to the Board of WorldSpreads with immediate
effect.
WorldSpreads is also pleased to confirm that it is in
negotiations with Roger Hynes, who
was previously Chief Executive of WorldSpreads Limited until
July 2010 and is currently a Director
of that company, in relation to his appointment as interim Group
Chief Executive of Worldspreads subject to agreement of terms and
regulatory approval. Prior to joining WorldSpreads Limited in
2010, Roger was Managing Director, Europe, of CMC Markets.
Additionally, following the announcement on 28 February 2012, regarding the resignation of
Niall O'Kelly, Chief Financial
Officer, the Group has released Mr O'Kelly from his notice period
and he has now left the Group's employment.
Further announcements will be made as and when appropriate.
About WorldSpreads Group plc
WorldSpreads Group plc (AIM: WSPR) is a financial services group
offering online and telephone trading. The Group's core activity is
the provision of spread betting and CFD products on the financial
markets to retail clients from its website
http://www.worldspreads.com.
WorldSpreads Limited, a wholly-owned trading subsidiary of WSPR,
is regulated and authorised by the Financial Services
Authority. It offers a full range of spread betting and CFD
prices on all the major financial markets, including stock indices,
individual shares, currencies, commodities and interest rates.
The Group floated on the London Stock Exchange's AIM market in
August 2007 and gained a dual listing
by joining the Irish Stock Exchange's IEX market in May 2008.
Risk warning
Spread betting is a leveraged product. It carries a high level of
risk to your capital and, as it is possible to lose more than your
initial investment, it may not be suitable for all
investors.