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Octopus Apollo VCT2 plc (OAP2)

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Tuesday 28 September, 2010

Octopus Apollo VCT2 plc

Directorate changes






Octopus Apollo VCT 2 plc

28 September 2010

Directorate Changes

The  Board  is  pleased  to  announce  the  appointment  of  Alan  Pepper  as an
independent  non-executive director of  the Company with  effect from today.  Mr
Pepper  is a  Chartered Accountant  by profession  with experience  in corporate
finance, investment management, corporate recovery and turnaround management and
has  worked in the accounting  profession in the UK  and overseas and in private
equity  both in  a major  investment bank  and boutique  investment firm.  He is
currently  Finance &  Commercial Director  of Avanta  Group Limited,  the London
serviced  office and property management group  where he was instrumental in the
completion of a management buyout in 2007.

Stuart  Brocklehurst has been  appointed Chairman of  the Company. Andrew Boyle,
former  Chairman of the Company and independent non-executive director and Roger
Penlington,  independent non-executive director, have both stepped down from the
Board.

These  changes  have  been  made  to  comply  with  Listing  Rule  15.2.11R that
stipulates  that each board should be able  to act independently and take effect
immediately.

The information required in accordance with Listing Rule 9.6.13 in respect of
Alan Pepper is given below:

(1)  Details of all directorships held by the director in any other publicly
quoted company at any time in the previous five years, indicating whether or not
she is still a director;

None

(2)  any unspent convictions in relation to indictable offences;

None

(3)  details of any receiverships, compulsory liquidations, creditors voluntary
liquidations, administrations, company voluntary arrangements or any composition
or arrangement with its creditors generally or any class of its creditors of any
company where the director was an executive director at the time of, or within
the 12 months preceding, such events;

 In June 2004, during his employment at Hamilton Bradshaw Limited, a special
situations and turnaround venture capital company, Mr Pepper was appointed an
executive director of Insight (1997) Limited, at the request of its funder, in
order to ascertain its financial position, implement a short term financial
stabilisation plan and develop a turnaround plan.  Subsequent to his appointment
it transpired that the company's financial position was such that it could not
be turned around and Insight (1997) Limited was placed into Administration on 1
October 2004.  No blame has been apportioned to Mr Pepper.

(4)  details of any compulsory liquidations, administrations or partnership
voluntary arrangements of any partnerships where the director was a partner at
the time of, or within the 12 months preceding, such events;

 None

(5)  details of receiverships of any asset of such person or of a partnership of
which the director was a partner at the time of, or within the 12 months
preceding, such event; and

None

(6)  details of any public criticisms of the director by statutory or regulatory
authorities (including designated professional bodies) and whether the director
has ever been disqualified by a court from acting as a director of a company or
from acting in the management or conduct of the affairs of any company.

None

For further information please contact:

Celia Whitten
Company Secretary
020 7710 2849


[HUG#1447393]








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Source: Octopus Apollo VCT2 plc via Thomson Reuters ONE
  



         

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