Business
Board Changes and Placing
Board Changes and Placing.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n Deal Group Media PLC\n14 December 2006\n\n\nPress Release 14 December 2006\n\n\n\n\n\n Deal Group Media plc\n\n ('dgm' or 'the Company')\n\n Board changes and Placing\n\n\n DGM returns to growth strategy following consolidation phase\n\nDeal Group Media plc, a leading independent online marketing group, announces\nthat the Board has, with immediate effect, appointed Adrian Moss, the Company's\nfounder, as Chief Executive Officer. He is currently a Non-Executive Director.\n\n\nThe Board believes that Adrian's appointment will return the Company to a period\nof growth following 12 months of consolidation and rationalisation. Adrian, a\nChartered Accountant, originally launched the business in 1999.\n\nAndrew Dickson, former Finance Director and current CEO, is stepping down from\nthe Board. The Company is currently looking to appoint a Chief Financial\nOfficer to strengthen the Board.\n\nIn order to pursue ongoing growth the Company announces that it has raised\napproximately £1 million via a placing of 38,181,818 new ordinary shares at 2.75\npence per share.\n\nDiscussions have ceased with all parties regarding any potential offers for the\nentire issued share capital of the Company. The Board received a number of\nproposals, reaching various stages of discussion. The Board is confident that\npursuing the Company's own growth strategy should deliver superior returns for\nshareholders.\n\nThe Company reports that Trading for 2006 is in line with market expectations\nand that, following the appointment of Adrian Moss, dgm is currently reviewing\nits strategy for 2007 and will report this to the market in the early 2007.\n\ndgm Chairman John Porter said: 'Adrian took dgm from a concept to a significant\nbusiness and he remains an acknowledged authority on the on-line market. On the\nback of dgm's initial success in Asia-Pacific, Adrian has developed a strategy\nfor the group to expand its operations in this region whilst also rolling out\ndelivery across the developed European markets.\n\n'During his tenure Andrew Dickson has built a solid foundation on which the\nCompany can now build and the Board is very grateful both for the stabilisation\nand development of our technology platform that Andrew has led and for the\nsignificant cost restructuring that he has completed.'\n\nApplication will be made for the 38,181,818 new ordina...