Screen PLC
05 December 2002
Screen Plc ('the Company')
Banking facilities and appointment of CEO
The Company can confirm that its bankers, Halifax Bank of Scotland (HBOS) have
now approved banking facilities in line with the Company's requirements for the
next twelve months. This is a constructive further step in the reorganisation of
the Company as set out in the announcements of the 6th and 18th of November
2002.
The Company also announces the appointment of Adrian Merryman as Chief Executive
(CEO) and a main board director with immediate effect. A member of the recently
appointed senior interim management team, Mr Merryman, aged 44, joins Screen
from Interregnum plc, the IT investment and advisory firm, where he was Chief
Investment Officer. As CEO, Mr Merryman, supported by the Company's two
executive directors and the senior interim management team, will be responsible
for day-to-day operations and more specifically, the implementation of the
reorganisation plan. Mr Ian Taylor will continue as part time executive
Chairman.
Prior to joining Interregnum in February 2000, Mr Merryman served as CEO of
TEMENOS Systems, a Swiss based international banking enterprise software
company, headed CIBC Oppenheimer's European Investment Banking group, and served
as an investment banker at Merrill Lynch. Before obtaining his MBA from Harvard
in 1992, Mr Merryman headed operations for DuPont Information Engineering
Associates, a software development company serving U.S. corporations and banks.
Mr Merryman began his career in US advertising, providing IBM, Xerox (Office
Systems division) and Procter & Gamble with strategic marketing direction. Mr
Merryman gained a Bachelor of Arts degree from Swarthmore College in1980.
The Company intends to announce the interim results for the six-month period
ending 30th June 2002 in the week commencing 16 December 2002.
05 December 2002
Enquiries:
Binns & Co. PR Ltd
Peter Binns / Paul McManus
Tel: 020 7786 9600
Notes:
Adrian Iver Merryman is or has been a director of:
Interregnum plc (Current) Executive Director.
Respond Group Limited (Current) Non-Executive
Yospace Technologies Limited (Current) Non-Executive
Adaptive, Inc. (Current) Non-Executive
Temenos S.A (Past) Executive Director.
Yospace Holdings Limited (Past) Non-Executive
Computerwire Services Limited (Past) Non-Executive
Computerwire Group Limited (Past) Non-Executive
On board Info Limited (Past) Non-Executive
Initiative Software Limited (Past) Non-Executive
Vocalex.com, Inc. (Past) Non-Executive
As an investor representative, Mr Merryman served as a Non-Executive Director of
Yospace Holdings Limited, Computerwire Services Limited, Computerwire Group
Limited, and On board Info Limited. The first three of these companies entered
into administrative receivership on 01 October 2002, 10 June 2002 and 11 October
2002 respectively. The fourth entered into a voluntary liquidation with its
creditors on 02 July 2002.
There are no other disclosures to be made pursuant to schedule 2, paragraph F
iii) to viii) of the AIM rules.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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