Appointment of Chief Executive Officer

RNS Number : 2208D

Brainspark PLC

14 May 2012

 



14 May 2012

Brainspark plc

                                                          ("Brainspark" or "the Company")

Appointment of Chief Executive Officer

Brainspark, an AIM listed, fast-growing, international investment company, is pleased to announce the appointment of Cesare Suglia, who joins the Board as Chief Executive Officer.

Cesare Suglia (aged 45) is the CFO of ORH S.p.A., a manager of tour operators, hotels and resorts in Italy and East Africa, operating under the Ora Hotels & Ora Resorts brands. He is also a director of Class Finance, an M&A and financial advisory firm based in Milan. He has 20 years' experience in M&A, financial advisory and management. In the past 10 years he has launched several start-up businesses operating in IT services, E Commerce, consulting and distribution, all of which were subsequently sold to investment funds or larger companies, some of which were quoted. In addition, he has collaborated with and advised various real estate funds, including Pirelli RE and Amundi, in the launch of hotel funds. He has also worked with the management department of University Ca' Foscari Venezia to help develop its Financial Management degree programme.

Alfredo Villa, Executive Chairman of Brainspark, commented, "Cesare is a very welcome addition to the management team and will be working closely with myself and the other Board members to establish Brainspark as a leading investor in real estate and leisure assets. He is well versed with Brainspark's current investment portfolio, as his role as CFO of ORH s.p.a. (Ora Hotels brand) has brought him into contact with many of our companies. He is a well-regarded and successful businessman in his industry, where he has spent the past five years creating one of Italy's leading hotel chains and travel companies."

Cesare Suglia holds or has held the following directorships within the last 5 years:

Current	Previous
Class Finance Srl	ImmoBiliare Cosent Srl
AGSC Srl	Sarla 336
Kline Srl	Class Consulting Srl
MV Jewels Srl	Beyond S.p.A.
	Italsecurity Intelligence S.p.A.

Mr Suglia was a non-executive director of Beyond S.p.A. within twelve months of the company filing for bankruptcy on 25 February 2010. No further information is available.

Mr Suglia holds 300,000 ordinary shares in the company, representing 0.34 per cent. of the voting rights in the Company.

Save for the information disclosed above there is no other information required to be disclosed under Rule 17 and Schedule Two, paragraph (g) of the AIM Rules.

-ends-

For further information please contact:

Brainspark plc                                                                                                            [phone]

Alfredo Villa, CEO

Westhouse Securities                                                                                         [phone]

Antonio Bossi

Jonathan Haines

Leander PR                                                                                                        [phone]

Christian Taylor-Wilkinson

About Brainspark Plc

Brainspark plc (AIM: BSP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the interactive media, leisure, entertainment and financial services sectors mainly in Italy but also other European countries. The Company may be either a passive or active investor and Brainspark's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions.

 

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