Board Changes

RNS Number : 1519Y

Spark Ventures PLC

19 February 2013

 



SPARK Ventures plc

("SPARK" or the "Company")

Board Changes

SPARK today announces that Jay Patel has stepped down as a director of the Company. Jay was one of the representatives of SPARK's investment manager, Spark Venture Management Limited ("SVML"), and has resigned in order to take up an executive position with IMImobile. Jay has been a representative of SVML and SPARK on the board of IMImobile since its foundation and has been working on secondment with them for the last two years. The Board of SPARK would like to thank Jay for his service over the last seven years. Jay remains a shareholder in SPARK, both of ordinary and D shares, and remains fully supportive of the current strategy.

As Jay's replacement and as the representative of SVML, Andrew David Norman Betton, aged 41, has been appointed as director of SPARK with immediate effect. Mr. Betton has been the company secretary of SPARK since July 2003 and was previously the finance director of SPARK until October 2009, when he was required to resign from the board as part of the management buy out.

Mr. Betton holds 334,000 ordinary shares in the capital of SPARK ("Ordinary Shares") and 1,818,182 options over Ordinary Shares with an exercise price of 4.5p per Ordinary Share.

For further information, please contact:

SPARK Ventures plc	Andrew Betton / David Potter	020 7851 7777
finnCap	Matt Goode / Christopher Raggett	020 7220 0500

The following further information in relation to the appointment of Mr. Betton is disclosed in accordance with Schedule 2(g) of the AIM Rules for Companies.

Current directorships and partnerships	Directorships and partnerships held in the last five years
NewMedia Spark Secretaries Limited	SPARK Ventures GP1 Ltd
SPARK Advisory Partners Ltd	Quester Ltd
SPARK India Ltd (Mauritius)	SPARK Scotland GP1 Ltd
SPARK Services Ltd	SPARK Scotland GP2 Ltd
Querist Ltd	SPARK VCT1 Ltd
Quester Academic GP Ltd	SPARK VCT4 Ltd
Quester Nominees Ltd	SPARK VCT5 Ltd
Quester Services Ltd	SPARK VCT6 Ltd
Quester Venture GP Ltd	NewMedia SPARK Holdings Gmbh
Quester Venture Participations Ltd	NewMedia SPARK BV
SPARK Impact Ltd
SPARK Venture Management Ltd
SPARK Venture Management Holdings Ltd
NewMedia SPARK Ltd
Wycombe AH Realisations Ltd
SPARK China Ltd
SPARK Group Ltd
NewMedia SPARK Directors Ltd
SPARK APH Ltd
SPARK Black Sheep Ltd
Hefei Friendship (UK) Association for friends of Hefei Ltd

As part of his employment with SPARK, Mr. Betton was director of both NewMedia Spark GmbH and NewMedia Spark BV at the time of their liquidations, both of which were undertaken in solvent circumstances.

There are no other matters which are required to be announced under Schedule 2(g) of the AIM Rules for Companies.

 

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