Business
Executive Director Resignations
Executive Director Resignations.
About this update from Rank Group Plc
[{"type":"text","content":"\n \nRNS Number : 2561J Rank Group PLC 28 June 2011 \n\nThe Rank Group Plc\n \n- Executive Resignations\n \n \nThe Rank Group Plc (\"Rank\" or the \"Group\") announces that both Ian Burke, chief executive of Rank since March 2006, and Paddy Gallagher, finance director of Rank since June 2008, have resigned from the board with immediate effect.\n\nBoth Ian and Paddy have also given notice to terminate their employment as, respectively, chief executive and finance director and will remain with Rank so as to ensure an orderly handover to their respective successors when they have been identified.\n \nFollowing the announcement by the board yesterday in relation to the offer for the Group by Guoco Group Limited (the \"Offer\"), Ian and Paddy have expressed to the board their view that, given the feedback received from institutional shareholders since the announcement, coupled with the advice from the Group's brokers' in light of this feedback as to the possible level of acceptances of the Offer, it is now more than likely that the Offer will result in a cancellation of the listing of Rank's shares on the Official List and the admission to trading of Rank's shares on the London Stock Exchange's main market for listed securities.\n \nThe board is convening urgently to discuss these latest developments with its advisers and a further announcement will be made shortly.\n \n28 June 2011\n \nWebsite: www.rank.com\n \n \nEnquiries:\n \nThe Rank Group Plc \nDan Waugh, director of investor relations 01628 504 053\n \nPress enquiries:\nFD\nBen Foster/Marc Cohen 020 7831 3113\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END BOABVLFLFQFFBBD \n ","length":3617,"tagName":"div"}]