Business
Re-org of Gem North America
Re-org of Gem North America.
About this update from Primorus Investments Plc
[{"type":"text","content":"\n CSS Stellar PLC\n23 December 2005\n\n\n\nCSS STELLAR PLC\n\nRE-ORGANISATION OF GEM NORTH AMERICA\n\nFriday 23 December 2005\n\n\n\n\n\n\n\nCSS Stellar PLC ('CSS' or 'the Company') today announced that it has\nsubstantially completed its re-organisation of GEM North America as outlined in\nthe 2005 interim announcement.\n\n\n\nGEM Minneapolis is now in a separate legal entity from the other US businesses\nof GEM, and is being managed by its new CEO, David Kuettel. As part of the\nre-organisation an incentive scheme has been put in place whereby the GEM\nMinneapolis management are incentivised on their own operations. Consequently\nthe Group has disposed of 25% of GEM Minneapolis in exchange for 318,785 shares\nin CSS valued at £143,453 at 45p per share.\n\n\n\nThese shares will be held in treasury.\n\n\n\n- end -\n\n\n\n\n\n\n\n\n\n\n\nFor further information contact:\n\n\nCSS Stellar Tel: 020 7078 1400\nSean Kelly, Chief Executive\nKevin Rose, Finance Director\n\nBuchanan Communications Tel: 020 7466 5000\nBobby Morse, Rebecca Skye Dietrich\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1293,"tagName":"div"}]