TLG 2 Travel Group

RNS Number:7684B
2 Travel Group PLC
09 August 2004


9 August 2004

                                   Announcement

                2 Travel Group plc ("2 Travel" or the "Company")


Board appointment and board response on recent press comment with regard to the
Company's Cardiff operations and a recently announced public enquiry into its
affairs

The Board of 2 Travel announces the appointment with immediate effect of David
Huw Francis to the Board as an Executive Director with responsibility for
regulatory matters. Mr Francis is currently employed as Company Secretary and he
is also co-founder and a substantial shareholder in the Company. No changes will
be made to Mr Francis's current remuneration as a result of this appointment.

Mr Francis (49) qualified as a solicitor in 1979 following which he worked with
various firms of solicitors acting, inter alia, as a prosecuting solicitor for
the Crown Prosecution Service. Since then he has co-founded and managed a
property investment company which was dissolved following the sale the property
portfolio, and a mineral deposit company. Mr Francis also currently co-owns and
manages a substantial property portfolio.

No further information on Mr Francis is required by Schedule 2 to the Aim Rules
other than as set out below.

It is also announced that Carl Waters, the Company's Finance Director, has given
notice of his wish to take up an alternative appointment and will therefore be
leaving the Company in due course. The Company is in the process of identifying
a suitable replacement. Mr Waters will continue in office until a suitable
replacement is found. The Board aims to have completed the replacement process
within the next 2 months. A further announcement on this matter will be made in
due course.

The Board also wishes to take this opportunity to respond publicly to various
operational issues which have come into the public domain as a result of third
party disclosures and these require clarification.

The Board takes issue with comments made by David Brown, MD of Cardiff Bus in a
recent article in Coach and Bus Weekly in which Mr Brown denies that Cardiff bus
is conducting a bus war with 2 Travel. Evidence in support of the Company's
position is being compiled and the matter has been referred to and is being
dealt with by the relevant authorities. 2 Travel has every intention of
expanding its operations in Cardiff. Further announcements on this matter will
be made as and when appropriate.

The Board confirms recent press comment that the Company has been called to
appear before a public inquiry by the Traffic Commissioner on 16 August. The
Public Inquiry will review a report by VOSA Bus Compliance Officers
investigating the running of registered services. Additionally, defective
vehicle prohibition notices (PG9s) have been incurred and VOSA Vehicle Examiners
submitted an unsatisfactory maintenance report at one depot. Repute,
professional competence and financial standing will also be considered.

The Board is confident that it will be able to address the concerns of the
Public Inquiry and believes that such inquiries are not unusual in circumstances
where a company has increased its areas of operation to the extent achieved by 2
Travel. A further statement will be made once the outcome of the inquiry is
known.


Enquiries:

Bev Fowles - Managing Director
Tel: 01792 483 040

Additional information on David Huw Francis required by Schedule 2 of the AIM
Rules


Current directorships:

Proplat Limited
Cashmere Limited


Former Directorships

None


Partnerships

No disclosures


Mr Francis was formerly a director of Ariel Finance Limited that was liquidated
in 1994. The estimated deficiency to creditors is estimated to be approximately
#80,000.

Squareinca Limited and Simco Holdings Limited are both companies of which Mr
Francis was a director. These companies appointed receiver managers in 1993 and
1994 respectively. The amounts owing to creditors are understood to be minimal.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

BOABDGDIIDGGGSC

2 Travel Group (LSE:TLG)
Historical Stock Chart
From Nov 2024 to Dec 2024

2 Travel Group (LSE:TLG)
Historical Stock Chart
From Dec 2023 to Dec 2024