Cohen(A.) & Co PLC
13 March 2001
The Board is pleased to announce the appointment as a Non Executive Director of
Mr Russell Sincock. Mr Sincock will replace Mr Steve Hudd who has stepped down
after several years service to the Company.
The directors would like to thank Mr Hudd for his contribution through a most
difficult period in the Company's history.
Mr Sincock, a Chartered accountant joins the Board to assist in the next stage
of the Company development after implementation of the restructuring commenced
in July 2000.
The Company has increased its unsecured borrowings to assist in its immediate
working capital position pending completion of the restructuring arrangements
announced in July 2000. The Company has also arranged trade finance for its
subsidiaries Jacob Metals Ltd and A. Cohen (Great Britain) Ltd which will assist
these companies to improve their performance in the current year.
The financial results from operations will be announced shortly and whilst not
being up to a satisfactory level will be a significant improvement on the
performance of the Group compared to that of 1999 as indicated by the
half-yearly performance.