Directorate Change

RNS Number : 4608E

Heath(Samuel) & Sons PLC

26 September 2008

 



26 September 2008

Heath (Samuel) & Sons plc ('Samuel Heath')

Appointment of Director

Samuel Heath is pleased to announce the appointment of Anthony Richard Buttanshaw FCA (aged 53) as a new non-executive director with immediate effect.

Mr Buttanshaw is currently a director of, or during the past five years has been a director of, the following companies (all incorporated in the UK unless stated otherwise):

Current directorships	Previous directorships
Meritgroup Limited	3G Comms Limited
Malvern Translations Limited (previous name Merit Outsourcing Limited)
Translution Holdings Plc
Translution Limited
Merit Software Services Private Limited (incorporated in India)

Mr Buttanshaw was appointed as a director of Translution Holdings Plc and its 100% owned subsidiary Translution Limited (together with Translution Holdings Plc, also referred to as 'the Group') on 5 December 2003. The main activities of the Group were the development and sale of software tools to assist with language translation. Dilip K Dattani and Patrick B Ellward of Tenon Recovery were appointed as Joint Administrators of the Group on 7 March 2008. Shortly after their appointment, the Joint Adminstrators sold the majority of the assets and business of the Group to Malvern Translations Limited for a total consideration of £45,000. It is proposed that once all assets have been realised and expenses of the Administration discharged, Translution Holdings plc and Translution Limited will be dissolved. Further details relating to both companies' administrations are as follows:  

	Estimated deficiency as regards
	Preferential creditors	Non-preferential creditors	Members
	£	£	£
Translution Holdings Plc	Nil	7,810	3,030,5131
Translution Limited	244,4302	3,114,2283	3,141,1384

1The estimated deficiency as regards members includes the estimated deficiency as regards non-preferential creditors.

2The security held by Translution Limited's sole preferential creditor, The Bank of Scotland ('BoS'), includes a floating charge over the company's assets. Translution Holdings Plc and Translution Limited had each issued inter-company guarantees of the debts of the other to BoS. 

3The estimated deficiency as regards non-preferential creditors includes the estimated deficiency as regards preferential creditors. The non-preferential creditors of Translution Limited includes an intercompany liability to Translution Holdings Plc of £2,721,131.

4The estimated deficiency as regards members includes the estimated deficiency as regards preferential and non-preferential creditors. 

No other information in respect of Anthony Buttanshaw is required to be disclosed under Schedule Two (g) of the AIM Rules.

For further information, please contact:

Samuel Heath & Sons plc
John Park, Company Secretary	0121 772 2303
Evolution Securities
Joanne Lake/Peter Steel	0113 243 1619

 

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