Directorate Change (4031H)
May 27 2011 - 2:01AM
UK Regulatory
TIDMGBR
RNS Number : 4031H
Global Brands S.A.
27 May 2011
27 May 2011
Global Brands S.A. ("Global Brands" or "the Company")
Directorate Change
It is with regret that the Company announces that Roberto Avondo
has decided that he will not be standing for re-election at the
Annual General Meeting on 1 June 2011. Roberto was appointed as a
Non-Executive Director of Global Brands on 12 February 2008 and has
played a key role in raising capital and delivering the turnaround
since then.
Roberto remains a shareholder and supporter of the Company.
Following the Pagonia acquisition and the implementation of a
new corporate structure in Switzerland, the Board proposes
appointing Rhys Cathan Davies (43), a Swiss resident, as an
independent non-executive director. This appointment will be
proposed at the AGM on 1 June 2011.
Rhys is a General Partner of Damille Partners which he
co-established in October 2008. He is also an Executive Director of
Damille Partners Limited and serves on the board of several AIM
quoted investment companies. Rhys has over 20 years of experience
of investing in public and private companies and holds degrees from
the University of Wales, Cardiff, and Imperial College, London, as
well being a CFA.
Commenting on Roberto Avondo's departure and Rhys' proposed
appointment, CEO Bruce Vandenberg said:
"Both Simon and I are extremely appreciative of what Roberto has
done for the Company and we have thoroughly enjoyed working with
him. Sadly, Roberto now feels that the time has come for him to
devote more time to his other business interests and that he would
not be able to devote the time necessary to his role as a
Non-Executive director of Global Brands. We wish him every success
in his endeavours and would like to thank him for all his efforts
on the Company's behalf.
At the same time we feel fortunate that we have found somebody
as experienced as Rhys, with the right mix of public company and
experience of the Swiss market to help steer the Company through
its growth plans in the coming years."
Appendix
Rhys Davies is or was a director or partner of the following
companies and trusts during the past five years:
Current Past
China Growth Opportunities Limited Agenda Television Limited
--------------------------------------
Damille Investments Limited Brighter Capital Sarl
--------------------------------------
Damille Partners, investment Glendower Capital Limited
partnership
--------------------------------------
Damille Partners Limited Glendower Opportunity Partners
II
--------------------------------------
EIH plc Heblerb Limited
--------------------------------------
Glendower Partners Limited Interactive Rights Management Limited
--------------------------------------
Hallwood Investments Limited The Local Radio Company PLC
--------------------------------------
OSP Limited, Guernsey Magnolia Petroleum plc
--------------------------------------
Rapid Realisations Fund Limited New Fulcrum Investment Trust plc
--------------------------------------
Loudwater Trust Limited Sanoodi Limited
--------------------------------------
SBC Management Sarl
--------------------------------------
Sports Brands Corporation Sarl
--------------------------------------
The Television Corporation Limited
--------------------------------------
Tinopolis PLC
--------------------------------------
Trinity FM Limited
--------------------------------------
Wightman Cup Limited
--------------------------------------
Rhys Davies was a director and deputy chairman of New Fulcrum
Investment Trust plc when that company entered into a members'
voluntary liquidation. New Fulcrum Investment Trust plc completed a
members' voluntary (solvent) liquidation. Rhys Davies was the
appointee of Hallwood Investments Limited, which was New Fulcrum's
largest shareholder, from 10 May 2005 until its dissolution on 9
April 2007. New Fulcrum, which was formerly listed on the London
Stock Exchange, returned approximately GBP41.3m to its shareholders
in 2005.
Rhys Davies was also a director of Heblerb Limited which went
into a members' voluntary liquidation in 2005. Heblerb was a
wholly-owned intermediate holding company of New Fulcrum Investment
Trust plc.
Rhys Davies was a non-executive director Caiman Technologies
Limited when that company entered into a creditors' voluntary
liquidation on 11 September 2002 and was dissolved on 2 October
2003. The deficit to unsecured creditors was GBP79,303. Caiman
Technologies Limited was a venture capital backed company that
failed to secure further financing.
Other than the above there are no further disclosure to be made
under Schedule 2 (g) of the AIM Rules for Companies.
ENDS
For further information:
Global Brands S.A.
Simon Bentley, Chairman Tel: (0) 20 7317 8022
www.globalbrands.ch
Libertas Capital
Thilo Hoffmann Tel: (0) 20 7569 9650
Sandy Jamieson www.libertascapitalpartners.com
Alexander David Securities Ltd
Bill Sharp Tel: (0) 20 7448 9820
Fiona Kinghorn Tel: (0) 20 7448 9829
www.ad-securities.com
Financial Dynamics
Jonathon Brill Tel: (0) 20 7831 3113
Caroline Stewart www.fd.com
Notes to Editors:
Global Brands is a public company incorporated under the laws of
Luxembourg and established in 1999. The company has been admitted
to trading on the AIM of the London Stock Exchange since 2005.
The Company is the owner and operator of the exclusive master
franchise of Domino's Pizza in Switzerland, Luxembourg and
Liechtenstein. Domino's Pizza is the world's leading pizza delivery
brand, with over 9,300 franchised and Company-owned stores across
65 international markets.
Global Brands SA's stated strategy is to add additional
international brands to its portfolio.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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