24th Apr 2009 16:55
24 April 2009
Travelzest plc ("Travelzest" or the "Company")
Suspension of Chief Executive
The Board of Travelzest announces that it has started an investigation into a potential misappropriation of Company funds. This investigation will be conducted in line with Company policy.
The Board currently does not believe that the sums involved are material in the context of the Travelzest group as a whole.
The Board also announces that Christopher Mottershead, Chief Executive Officer of the Company, has today been suspended from his Executive responsibilities with immediate effect pending the outcome of the investigation.
Jonathan Carroll, Executive Director of the Company, will assume the role of interim Chief Executive Officer whilst the Company conducts the investigation.
A further announcement will be made as appropriate.
END
Enquiries
Travelzest plc
Mark Molyneux 01442 874 322
Investec
Martin Smith, Erik Anderson 020 7597 5970
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