Directorate Changes

RNS Number : 2672H

TV Commerce Holdings PLC

03 November 2008

 



TV COMMERCE HOLDINGS PLC

BOARD CHANGES

The Board of TV Commerce Holdings plc (the 'Company'), announces the following Board changes:

• Andrew Mintern, Chairman, has resigned as a director of the Company with immediate effect;
  

• Vincent Stanzione, Chief Executive Officer, has also resigned as a director of the Company with immediate effect;

• David Hargreaves has been appointed as Executive Chairman with immediate effect;

• Rakesh Patel FCCA has been appointed as non-executive director and will act as finance director for the Company with immediate effect; and

• Nicolas Eastwood has been appointed as non-executive director of the Company with immediate effect.

The Board would like to thank Mr Stanzione and Mr Mintern for their service to the Company.

John 'David' Ian Hargreaves, (age 68)

David Hargreaves is a Chartered Mining Engineer and Geologist.  After training in the UK coal industry he spent ten years in operational management in North and South America and southern Africa. In 1974 he joined the research department of London stockbroker, James Capel to become Head of Mining Research. David runs his own consultancy business specialising in gemstone mining and marketing.  David is currently a non-executive director of AIM quoted gemstone technology company, DiamondTech Inc.

David is a Fellow of the Geological Society and holds a First Class Mine Managers Certificate, in both the UK and the Republic of South Africa and has a Ph.D. Economics.

Listed below are the names of the companies (other than the Company) of which Mr Hargreaves has been a director or partner at any time in the past five years.

Current Directorships / Partnerships held	Past Directorships / Partnerships held
DiamondTech Inc.	Black Angel Mining Limited
Diamond Tech Limited	Harry's Properties Limited
Fair Trade Gemstones Limited	Minex (Pvt) Ltd
The Silurian Company Ltd	T & T Packaging Limited
Zambezi Emeralds Limited

Rakesh Ramesh Patel FCCA, (age 45)

Rakesh Patel qualified as a chartered certified accountant in 1991 and became a partner in Gerald Edelman, a firm of chartered accountants in London, in 1997. In 1992, he formed the corporate finance division, dealing with acquisitions, disposals, mergers, private placings and stock market flotations. He was involved in advising on the acquisition of Ryman the Stationer and left the firm in 1996 to become group financial controller of Chancerealm Limited, a group including Ryman Limited and Contessa Ladieswear Limited and was involved in the acquisition and integration of Contessa Ladieswear Limited. 

Rakesh returned to Gerald Edelman in 1997 to head the firm's corporate finance division until leaving in March 2003 to join Adler Shine LLP, chartered accountants, where he heads the firm's corporate finance division. 

Rakesh has acted in over 30 AIM transactions as Reporting Accountant and has also acted as interim or part-time director to a number of private and public companies. He is currently chief executive officer of The Niche Group plc and finance director of Microcap Equities plc, both of which are quoted on AIM, and will act as finance director for the Company. 

Listed below are the names of the companies (other than the Company) of which Mr Patel has been a director or partner at any time in the past five years.

Current Directorships / Partnerships held	Past Directorships / Partnerships held
Adler Shine LLP	Academy Day Nurseries & Childcare Ltd
Dhobiwala LLP	Academy Property & Development Ltd
Dominion Pacific plc	CEC Properties Limited
Gracemoor Holdings Limited	Consulta Veritas Ltd
Microcap Equities plc	Equity Portfolio plc
Mountfield Group plc	Headstart (LB) Ltd
Saya Enterprises Limited	Headstart (MK) Ltd
Shayona Restaurants Limited	Headstart (NT) Ltd
The Clothes Spa Limited	Headstart (PE) Ltd
The Dry Cleaner LLP	Leisure Activity plc
The Niche Group plc	Leisure Perspectives plc
	London & Newcastle Holdings plc
	Medical Engineering Limited
	Naughton-Green Associates Limited
	RRP Financial Consulting Limited
	The Creative Education Corporation plc
	The Interactive Sports Store Limited
	The Niche Group plc
	YoYo Direct Limited

Nicolas 'Nick' John Eastwood, (age 56)

Nick Eastwood ACSM, CEng, MIMM, FIQ has over 30 years experience in the mining and quarrying industry in both operational and technical roles. After graduating as a mining engineer from the Camborne School of Mines in 1974, he spent several years in Africa in the copper and gold mining industries. Returning to the UK he joined ARC Ltd (a subsidiary of Consolidated Goldfields Limited) on quarry operations and then moved to a technical role with Blue Circle Industries Ltd. As principal mining engineer for the group, Nick was
involved in all aspects of raw material extraction processes worldwide.  He has also acted as a specialist 
mining industry recruitment consultant, providing skilled professionals to international clients worldwide.

Nick is not currently a director of any company (other than the Company). 

Save as disclosed above, there are no further details required to be disclosed pursuant paragraph (g) of Schedule Two of the AIM Rules for Companies.

Enquiries:

David Hargreaves, CEO		TV Commerce Holdings plc		Tel: [phone]
Liam Murray/Aaron Smyth  Nominated Adviser		Dowgate Capital Advisers Ltd		Tel: [phone]
Philip Dumas		Dowgate Capital Stockbrokers Ltd		Tel: [phone]

Further information can be found on the Company's website, www.tvcommerce.co.uk.

 

END

 

 

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