3rd Jul 2006 14:10
Findel PLC03 July 2006 3 July 2006 Findel plc ("Findel" or "the Company") AGM Announcement Current Trading The first three months of the financial year are traditionally a quiet periodfor our home shopping division. However, I am pleased to report that the resultsfrom our initial recruitment campaign are encouraging and this together withproduct sales 3% ahead of the same period last year provides confidence as wemove towards our main trading season in the Autumn. In the Educational Supplies division, the period has been a relatively quiet onefollowing the strong pre Easter demand in March and the late release of schoolbudgets. However, demand is now improving and the Board remain confident of thedivision's ongoing performance. Board Appointment I am pleased to announce that Mr. Mike Hawker will be joining the Board as anindependent Non Executive Director with effect from 4th July. Mr. Hawker hasover 25 years experience in home shopping having latterly been Chief Executiveof Otto (UK). Prior to his position at Otto (UK), Mr. Hawker was Chief Executiveof Redcats Group having previously been a Director of Sears plc. Strategic Assessment Over the past two months Patrick Jolly has been making good progress in hisassessment of the Group's activities and future direction. The review involvesconsideration of ways of further enhancing the performance of the Group'sindividual activities. In this regard the Group is at an early stage in activelyconsidering the possibility of a demerger of one of the Group's two principaldivisions. We will report further on progress in due course. - Ends - For further information please contact: Patrick Jolly / David DuttonFindel plcTel: 01943 864 686 Jonathon Brill / Billy CleggFinancial DynamicsTel: 020 7269 7273 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
STU.L