7th Mar 2008 07:00
Assura Group Limited07 March 2008 Assura Group Limited ("Assura" or the "Company") Director Change and Proposed Changes to the Investment Policy and Memorandum of Association Director Change Assura Group Limited announces that Dr Mark Jackson, its Non-executive Chairman,has decided to step down from its Board and as Non-executive Chairman withimmediate effect. The Board recognises that Dr Jackson has increasing commitments as ChiefExecutive of Helphire Group PLC and would like to record their thanks for hishard work and commitment to Assura since its flotation in 2003. Assura announces that, with immediate effect, Dr John Curran, presently theBoard's senior independent Director and a Non-executive member of the Board willassume the role as Interim Chairman of the Board. The Company is already advanced in the process of recruitment of a newNon-executive Chairman and an announcement in relation to this is likely to bemade, once all necessary formalities are dealt with, in the near future. Proposed Changes to the Investment Policy and Memorandum of Association Assura proposes to make certain changes to the Company's investment policy andits memorandum of association in order to align them with the Group'sactivities, which have evolved significantly since the Company was establishedas a closed-ended investment company in 2003. The Directors also propose tomake an application to the UK Listing Authority for the reclassification of theCompany from being a property investment company to being a trading company.Assura will remain listed on the Main Market of the London Stock Exchange. The Company will, today, post a circular to shareholders providing details ofthese proposals and convening an extraordinary general meeting which will beheld at 9.00 a.m. on 3 April 2008 at which the approval of shareholders forthese changes will be sought. In view of these proposals the Board is currently actively considering thepotential advantages and disadvantages of moving the location of the Company'scentral management and control from Guernsey to the UK which would result in theCompany becoming resident in the UK for UK tax purposes. No decision on thiswill be taken before 1 April 2008 and an announcement will be made if the Boarddoes decide to make any change. Ends Notes to Editors: Dr Jackson was appointed non-executive chairman of Assura Group Limited inNovember 2003. Dr John Curran joined the Board of Assura Group Limited in November 2003 and hasbeen throughout his tenure on the Board the non-executive deputy chairman andsenior independent director. Enquiries: Richard Burrell/Louise Bathersby: Assura Group 020 7107 3800David Yates / Ben Atwell: Financial Dynamics 020 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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