CSS Stellar PLC
23 December 2005
CSS STELLAR PLC
RE-ORGANISATION OF GEM NORTH AMERICA
Friday 23 December 2005
CSS Stellar PLC ('CSS' or 'the Company') today announced that it has
substantially completed its re-organisation of GEM North America as outlined in
the 2005 interim announcement.
GEM Minneapolis is now in a separate legal entity from the other US businesses
of GEM, and is being managed by its new CEO, David Kuettel. As part of the
re-organisation an incentive scheme has been put in place whereby the GEM
Minneapolis management are incentivised on their own operations. Consequently
the Group has disposed of 25% of GEM Minneapolis in exchange for 318,785 shares
in CSS valued at £143,453 at 45p per share.
These shares will be held in treasury.
- end -
For further information contact:
CSS Stellar Tel: 020 7078 1400
Sean Kelly, Chief Executive
Kevin Rose, Finance Director
Buchanan Communications Tel: 020 7466 5000
Bobby Morse, Rebecca Skye Dietrich
This information is provided by RNS
The company news service from the London Stock Exchange