Board Change

RNS Number : 0003H
Boomerang Plus PLC
30 October 2008
 



Date:                      30 October 2008

On behalf of:          Boomerang Plus plc ("Boomerang", "the Group" or "the Company") 

Embargoed until:   0700hrs


Boomerang Plus plc 

Board Change 


Boomerang Plus plc (AIM: BOOM.L), a profitable and vertically integrated, multi-genre, independent television production group operating within the Nations and Regions, is pleased to announce the appointment of Richard Huntingford as Non-Executive Chairman with immediate effect. Roger Moore will remain on the Board as an independent Non-Executive Director. 


Richard, 52, was CEO of Chrysalis Group plc from December 2000 until September 2007, having joined as Corporate Development Director in June 1987. At Chrysalis he was responsible for building the company into a broadly-based media group with significant radio, television and music businesses. During this period, Chrysalis Television become a leading producer of drama, entertainment, factual and sports programming, with flagship shows such as Midsomer Murders, Richard and Judy, Top Ten, F1 and Football Italia, prior to its sale to All3Media in August 2003. Richard founded Chrysalis Radio in 1993 which he developed into one of the leading brand-led radio groups with its successful Heart, Galaxy and LBC stations prior to its £170 million sale to Global Radio in July 2007. From September 2007 Richard was Executive Chairman of Virgin Radio until its acquisition by Times of India in June 2008. Richard qualified as a Chartered Accountant with KPMG and has over 20 years of experience at PLC Board level in the media industry.


Commenting, Huw Eurig Davies, CEO of Boomerang, said: 


"On behalf of the Board, I would like to thank Roger for his contribution to Boomerang and in particular with his significant involvement in the Company's admission to AIM. We welcome his continued support as a Non-Executive Director on the Board.


"We are delighted to welcome Richard to our Board. He has an impressive track record and brings a wealth of media experience with him which will be a valuable addition to the Company. The Group is at an exciting stage in its development and we believe Richard's experience will make a substantial contribution to our next phase of development as the Group continues to grow."


Richard Huntingford, New Non-Executive Chairman of Boomerang, added:


"I am thrilled to have joined Boomerang at such an exciting stage in its development. The Company has enjoyed strong growth over the last year and published a very positive set of preliminary results last week. With a strong balance sheet and proven and ambitious management and staff, the Company is in an excellent position to capitalise on the considerable opportunities within the changing media marketplace."


Richard Norman Legh Huntingford has previously held the following directorships during the last five years:


Current Directorship

Date

RNLH Consulting Limited

25 Sept 2007


Past Directorships

Date 

AIR Overworld Limited

1994 - 2007

AIR Records Limited

1994 - 2007

Air Studios (Lyndhurst) Limited

1990 - 2006

Chrysalis Digital Radio Limited

2000 - 2007

Chrysalis Group plc

1987 - 2007

Chrysalis Holdings Limited

1990 - 2007

Chrysalis Limited

1997 - 2007

Chrysalis Mobile Solutions Limited

2004 - 2007

Chrysalis New Media Investments Limited

2001 - 2007

Chrysalis Picture Library Limited

2000 - 2007

Chrysalis Radio Holdings Limited

2002 - 2007

Chrysalis Radio Limited

1995 - 2007

Chrysalis Radio London Limited

1993 - 2007

Chrysalis Retail Entertainment Limited

1993 - 2007

Chrysalis Television Mobiles Limited

1996 - 2007 

Faze Three (East Midlands) Limited

1997 - 2007

Galaxy Radio Limited

1994 - 2007 

Golden Square Networks Limited

2007 - 2008

Heart TV Limited

1998 - 2007

Puremix Limited

2000 - 2007

Radiocentre Limited

2007 - 2008 

Rivals Europe Limited

2000 - 2007

Rojo Leisure Limited

1999 - 2007

Salamander Books Limited

1999 - 2005

SMG Digital Radio Limited

2008 - 2008

The Clean Car Company Limited

1988 - 2005

The Echo Label Limited

1993 - 2007

Virgin Mobile Holdings (UK) plc

2005 - 2006

Virgin Radio Holdings Limited

2007 - 2008

Virgin Radio Limited

2007 - 2008

Washworks (MK) Limited

1992 - 2005


Mr. Huntingford has confirmed that no further disclosures are required under Schedule 2 paragraph (g) of the AIM Rules.


- Ends -


For further information, please contact:


Boomerang Plus plc 

Via Redleaf Communications 

Huw Eurig Davies, Chief Executive


Mark Fenwick, Finance Director


Richard Huntingford, Non-Executive Chairman

Tel: 07802 793 444



Altium Capital Limited 


Tim Richardson / Melanie Szalkiewicz

Tel: 020 7484 4040



Redleaf Communications

 Tel: 020 7822 0200

Sanna Sumner/ Anna Dunkin 

boomerang@redleafpr.com 


Notes to Editors: 


  • The Group, founded in 1994, has extensive experience in producing content in a variety of genres, including youth programming, music, entertainment, children's programming, extreme sports and drama

  • The Group has good revenue visibility as a high proportion of its budgeted revenue is contracted with broadcasters 

  • The market for independent television production companies in the Nations and Regions has grown following quotas from the regulator Ofcom, which require that, depending on the broadcaster, between 10 per cent. and 50 per cent. of qualifying programming hours must be sourced from outside the M25 boundary

  • Boomerang is ranked in the top five independent television production companies, by revenue, in the Nations and Regions according to the Broadcast Survey (Nations and Regions) 2007

  • The Board's strategy is both to achieve strong organic growth by leveraging the Group's existing customer base coupled with strategic acquisitions, with a view to becoming a major supplier to UK networks looking to satisfy their Nations and Regions quotas

  • Boomerang is well placed to lead the consolidation of regional independent production companies across the UK. Target companies which meet the acquisition criteria will have a strong track record, which will assist the Group to grow further, outside Wales


This information is provided by RNS
The company news service from the London Stock Exchange
 
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