3rd Sep 2012 15:11
Alternative Networks plc
("Alternative Networks" or "the Company")
Board Change
Alternative Networks announces that Ben Marnham, Chief Operating Officer, has notified the Board of his intention to step down as a Director of the Company, in order to travel abroad and pursue personal interests. He will remain in his current role until 3 January 2013, in order to effect a full and orderly handover of his duties and responsibilities, which will be absorbed by the Company's current executive management team.
James Murray, Chief Executive of Alternative Networks, commented:
"We are enormously indebted to Ben for his contribution to Alternative Networks. He has played a significant part in the growth of the business and has helped to build an outstanding management team. I would like to thank him personally for all his hard work and dedication and wish him every success for the future."
The Group has continued to trade in line with expectations over the summer, with strong cash generation, improved margins and has continued to increase its market share in most product sets, albeit revenue progression remains constrained by the less favourable headwinds of a UK economy in recession, and continued UK and EU regulatory intervention. A detailed pre close period trading update will follow in early October 2012.
Enquiries:
Alternative Networks plc | 020 7801 7156 |
James Murray, Chief Executive Officer | |
Edward Spurrier, Chief Financial Officer | |
Investec Bank plc | 020 7597 5970 |
Patrick Robb Andrew Pinder | |
Pelham Bell Pottinger | 020 7861 3112 / 07802 442 486 |
Archie Berens | |
Related Shares:
AN..L