Appointment of CEO and grant

RNS Number : 9890F

Brainspark PLC

22 January 2010

 



22 January 2010

Brainspark plc

("Brainspark" or the "Company")

Appointment of CEO and 

Grant of Convertible Loan Note

The Board of Brainspark is pleased to announce the appointment of Alfredo Villa as Chief Executive Officer of Brainspark, with immediate effect. Previously, Alfredo was Non-Executive Director of the Company.

Brainspark has also secured a £125,000 non interest bearing convertible loan, from Mr. Villa. The loan is convertible by Mr. Villa at any time within the next three years and is exercisable at 0.65p per Brainspark share. The proceeds of the funds will be used by the Company for general working capital purposes.

Brainspark Chairman, Francesco Gardin, commented, "We are delighted that Alfredo has accepted the position of Chief Executive. His business and investment experience will be crucial for the acceleration of the Company's  development."

Alfredo Villa, new Chief Executive Officer of Brainspark, added, "I believe that Brainspark's potential for rapid, sustainable growth is in our power as we have the right people on the Board making the right investment decisions. I have great confidence in the future of the Company and I am very pleased to take Brainspark forward on this exciting journey as its Chief Executive."

-ends-

For further information please contact:

Brainspark plc	[phone]
Francesco Gardin, Chairman
Allenby Capital Limited	[phone]
Jamie Boyd/James Reeve
Leander PR	[phone]
Christian Taylor-Wilkinson

 

END

 

 

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