15th May 2009 07:00
15 May 2009
Theo Fennell PLC
("Theo Fennell")
Board Appointment
Board appointment
Further to the announcement on 30 March 2009, the Board of Theo Fennell PLC, the AIM listed jeweller, confirms that Barbara Snoad has been appointed as CEO and will join the board with immediate effect.
Barbara Snoad commented:
"I am delighted to be returning to Theo Fennell in a new full time role. I believe the potential for the brand is as strong as it has ever been and have confidence in the future growth of the business.
We have a clear strategy for the future; focussing on our core jewellery brand and exploiting opportunities for international development."
Richard Northcott, Chairman Theo Fennell. Commented:
"We are delighted we have been able to retain Barbara on a permanent basis. Her in-depth knowledge of the brand and historic track record in generating both sales and profit growth at Theo Fennell position us well both in the current challenging environment and for the future."
Third party investment
As previously announced, the Board of Theo Fennell had been in talks with a party interested in making a significant investment in the Company. An agreement has not been reached and those talks have ended.
The Company anticipates announcing its final results for the year ended 31 March 2009 in late July.
Disclosure of Directorships under Schedule 2 of the AIM Rules
Barbara Anne Snoad, aged 51, is or has been a director or a partner of the following companies or partnerships during the previous five years:
Current directorships/partnerships:
None
Directorships/partnerships held within the previous five years:
Theo Fennell PLC
There are no other matters which are required to be announced with regard to this appointment under paragraph (g) of Schedule 2 of the AIM Rules.
Grant of options
The Company has today agreed to grant options to subscribe for 500,000 ordinary shares of 5p each in the Company at 17p per share to Barbara Snoad, the new Chief Executive. The options, which will vest after one year, are exerciseable up to 10 years from the first anniversary after the date of grant.
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Enquiries: |
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Theo Fennell Plc Richard Northcott |
Tel: 020 7591 5000 |
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Pelham PR James Henderson / Kate Catchpole |
Tel: 020 7337 1512 |
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Seymour Pierce Limited Mark Percy |
Tel: 020 7107 8000 |
Related Shares:
TFL.L