21st Oct 2011 07:00
Press Release | 21 October 2011 |
zamano PLC
("zamano" or "the Group")
Resignation of Director
zamano PLC (AIM:ZMNO, ESM:ZAZ), announces that John O'Shea, Chief Executive Officer, will be leaving the Group on November 18th, to pursue other interests.
Non-Executive Director Pat Landy will take a temporary executive role while the Board identifies a replacement CEO.
In the meantime, operational responsibility for the Group will rest with:
Margaret O'Connor, Managing Director, Everneo (Group D2C division)
Michael Connolly, Group Financial Controller, zamano
As reported in the Group's interims in September, investment in web and mobile marketing had at that stage begun to show promise in terms of increased subscriber acquisition rates. This trend has accelerated through October, delivering a significant uplift in current and future revenues. The Group is looking to build upon this progress in the coming months, and will provide more guidance when longer term trends are established.
Mike Watson, Chairman, said:
"In John's 9 years with zamano, the Group experienced high growth, followed by a period of severe revenue decline. John led an extended reengineering of the business firstly to stabilise revenues, followed by the moderate quarter on quarter growth reported in September, with further growth now being experienced. We'd like to thank John for leading the company through very difficult times, leaving it now well positioned for its next stage of development".
For further information, please contact:
zamano plc
Mike Watson , Chairman
Tel: + 44 7860 681843
NCB Corporate Finance
Conor McCarthy / Shane Lawlor
Tel: +353 1 611 5100
Cenkos Securities
Jon Fitzpatrick
Tel: +44 (0) 20 7397 8900
Alan Stewart
Tel: +44 (0)131 200 6939
Media enquiries:
Edelman
Donnchadh O'Leary
Tel +353 1 678 9333/+353 87 2820436
www.edelman.com
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