5th Sep 2005 14:17
Worthington Group PLC05 September 2005 Monday 5 September 2005 PRESS RELEASE The Board of Worthington are pleased to announce the appointment of Mr MichaelEdelson as a non-Executive Director. The Company's stated objective now is to enhance shareholder value by a merger,acquisition or reversal, and Mr Edelson brings a wealth of experience in allthese fields and enjoys a proven track record of success. Mr Edelson has been on the Board of Manchester United Football Club Ltd since1982 and is currently the non-Executive Chairman of EXC Plc and a non-ExecutiveDirector of City Invoice Finance Ltd and Singer & Friedlander AIM3 VCT Plc. Heis also Executive Chairman of London & City Credit Corporation Ltd and ElmPartners Plc, Birch Partners Plc and Oak Prospects Plc. He has also been on theBoard of several AIM listed companies - a full list of which is reproducedbelow. Worthington Group Plc is in the process of marketing its three remainingproperty assets which should produce a cash surplus. But in the meantime, anEGM is to be called shortly to reorganize the Group's interim fundingrequirements, whereby I will be taking over the term loans on the Macclesfieldproperty, currently with Royal Bank of Scotland, allowing the Group to preserveits cash flow by requiring that capital repayments and interest are onlyrefunded once that property has been sold. In accordance with Rule 9.6.13 we disclose for completeness a listing of alllisted directorships held by Mr Edelson in the last 5 years :- Current Listed Directorships:- Exc plcPine Ventures plcSinger & Friedlander AIM 3 VCT plc Former Listed Directorships held in the last 5 years :- Aerobox plcChelford Group PlcDCI (Knutsford) PlcDM plc (previously Hawthorn Holdings plc/ Poptones Group plc)Enition plc (previously Walnut Partners Plc)Felix Group plc (previously Chestnut Prospects Plc)Hanover Capital Group plcHost Europe plcMedia Content PLCMercury Recycling plcNadlan plcOptimistic Entertainment plcPrestbury Group plcPoly Information plcSP Holdings plcTecc-IS PlcWI Link plc There are no other matters requiring disclosure under Rule 9.6.13 J C Dwek CBEChairman 5th September 2005Tel 01625 549081 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Worthington Grp