Directorate Changes

RNS Number : 5329K

Fairpoint Group PLC

31 July 2013

 

31^st July 2013

Fairpoint Group plc

Directorate changes

Appointment of non-executive director

Fairpoint Group plc ("Fairpoint" or the "Group"), the leading provider of advice and solutions to financially stressed consumers, is pleased to announce the appointment of Mike Fletcher as a new, independent non-executive director with effect from 1 August 2013.

Mike, who is aged 38, is a founding director of Praetura Capital, a specialist venture and advisory business established in 2011. Mike holds a variety of board positions and has extensive capital markets experience. Mike is currently a non-executive director of AIM listed Inspired Energy (INSE.L), which he helped to successfully bring to market in November 2011.

Prior to that, Mike was formerly a managing director in corporate finance for European investment bank Altium Capital Limited, where he specialised in lead advisory mandates on behalf of corporate clients, entrepreneurs and private equity houses. Mike qualified and was a chartered accountant with PWC.

At the same time, Thomas Russell, a non-executive director, is resigning from the Board. This follows the disposal of Hanover Investors Management LLP's shareholding in April 2013.

Matthew Peacock, Non-Executive Chairman of Fairpoint, commented:

"We are delighted to welcome Mike Fletcher to Fairpoint's Board. He brings a strong advisory background in the financial services sector and we believe his strategic thinking will enable the Group's growth ambitions to come to fruition. We also thank  Tom Russell for his contribution to the Group."

- Ends -

 Enquiries please contact:

Fairpoint Group Plc

Chris Moat, Chief Executive Officer                                                                             0844 826 1209

John Gittins, Finance Director

Shore Capital                                                                                                                           020 7408 4090

(Nominated adviser and broker)

Pascal Keane/Edward Mansfield

MHP Communications                                                                                                         020 3128 8100

Reg Hoare / Katie Hunt / Ben Griffiths

Additional Information:

Further information on Mike Fletcher as required by Rule 17 and Schedule 2(g) of the AIM Rules for Companies is detailed below:

(a)  His full name is Michael James Fletcher and he has no previous names;

(b)  Mike is a director or partner of the following companies or partnerships other than Fairpoint:

Alex. Inglis & Company (Blantyre) Limited

Finemore GHA Limited

Finemore Jill Limited

Incorporate Travel Management Limited

Inspired Energy plc

Maia Acquisitions Limited Noblet Municipal Services Limited

Plantselect Limited

Praetura Asset Finance Limited

Praetura Capital LLP

Praetura Properties (Balgarth) Limited

Praetura Property Investors (1) LLP

Praetura Property Investors (2) LLP

Praetura Property Investors (3) LLP

Praetura Property Investors (4) LLP

Praetura Property Investors (5) LLP

Praetura Ventures (1) LLP

Praetura Ventures (2) LLP

Praetura Ventures (3) LLP

Praetura Ventures (4) LLP

Praetura Ventures (5) LLP

Praetura Ventures (6) LLP

Praetura Ventures (7) LLP Praetura Ventures (8) Limited

Sellers Travel Limited

Semaia Ventures Limited

Semaia Ventures (1) LLP

Starcount EIS Nominees Limited

The Aquarius Origin Fund LLP

WW Initial Investors LLP

(c)   In the last five years, Mike has been but is no longer a director or partner of the following companies or partnerships:

Chameleon Acquisitions Limited

Praetura Properties LLP

Store Media plc

Vicinity Group Ltd

Vivo 3 Limited

Vivo Capital LLP

WRT Holdings Limited

There are no further disclosures for Mike Fletcher as required under Schedule 2(g) of the AIM Rules for Companies.

 

END

 

 

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