Netcentric Systems PLC
23 October 2001
NETCENTRIC SYSTEMS PLC ('the Company')
23 OCTOBER 2001
Netcentric Systems PLC announces the resignation of Bob Williams, Chairman,
Jane Garrett, Chief Executive Officer, Howard Freedman FCA, Finance Director
and Company Secretary and Andrew Karney, Non-Executive Director, with
immediate effect.
Stephen Komlosy has been appointed as Chairman and John May FCA has been
appointed as Financial Director, with immediate effect. Full disclosure for
the new directors, as required under the Aim rules, will be made in a
subsequent announcement. Gerard Thompson, Chief Operating Officer, will remain
as an executive director.
Stephen Komlosy and John May are also directors of London & Boston Investments
Plc (formally Cybertec Holdings Plc), an investment company specialising in
the enhancement of companies within its portfolio. As announced on 9 October
2001, London and Boston Investments Plc, following the purchase of 21,000,000
ordinary shares in the Company on 5 October 2001, is interested in 23,000,000
ordinary shares of the Company representing an interest of 9.03%.
The new board will carry out an in-depth review of the Company's assets and
operations. It will seek to preserve the value of the Company's assets in
order to create a situation, possibly through a reconstruction, in which the
Company can progress or acquire new businesses.
Contact:
Allan Piper
Blackstones Communications 020 7251 2544
Stephen Komlosy
Netcentric Systems Plc 020 7881 0800
END.
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