Change of Adviser
May 29 2003 - 2:01AM
UK Regulatory
RNS Number:6555L
Host Europe PLC
29 May 2003
Host Europe PLC ('Host Europe' or 'the Company')
Appointment of a Nominated Adviser and Broker and Appointment of Directors
Host Europe is pleased to announce the appointment of Durlacher Limited as the
Company's Nominated Adviser and Broker with immediate effect. Accordingly, it
is anticipated that trading in the Company's Ordinary Shares will commence at
7:00 am today.
As previously indicated in the announcement made by the Company on 15 May 2003,
following the amicable agreement reached between the Company and the
Requisitionists and subsequent resignation of the incumbents (with the exception
of Mr Hardoon) from the Company's Board, Host Europe is pleased to welcome to
the Board Victor Gareh, Uwe Braun, Garry Southern and Jonathan Willis-Richards
with immediate effect.
The Company has identified a short list of candidates for the vacant Chief
Financial Officer and Chief Operating Officer positions and will make further
announcements in due course. Meanwhile the Chief Financial Officer's role is
being performed jointly by Mr Hardoon, Chief Executive Officer, and Mr Southern,
Chairman and the role of Chief Operating Officer is being performed by Mr Gareh,
Chief Technology Officer.
Mr Hardoon, Chief Executive Officer said:
"I am delighted to welcome such an experienced set of individuals to the Board.
I believe shareholders and potential investors alike will appreciate the
strength and depth of Host Europe's new Directors, which in my mind will ensure
the continued success of the business. I am also pleased to advise that the
issues surrounding the proposed EGM have not, as far as the Company is aware,
had any discernible impact on the Company's trading, in particular, I can advise
that trading continues in line with market expectations and importantly there
have been no losses of any existing major customers. Furthermore, I fully expect
to be able to announce major customer wins and new product launches to extend
the current product line in the near future. As a result, I am confident in the
Company's continued success."
Victor Gareh, aged 38, joins the Board as Chief Technology Officer. Victor has
spent over 15 years in the IT industry since graduating in computing and
statistics. He was employed by the Securities and Futures Authority (now the
Financial Services Authority) for 5 years as a senior analyst/programmer
developing PC based database systems. He subsequently formed his own IT
consultancy providing bespoke database design and development solutions. In this
role he fulfilled contracts for, amongst others, IMRO, the Securities Institute,
White Cube and Hyperion Training (now BPP Holdings Plc). He was one of the
founding shareholders of Magic Moments Internet Plc (now Host Europe).
Uwe Manfred Braun, aged 30, joins the Board as an Executive Director with
responsibility for German operations. After completing a degree in
Communications from the West German Academy of Communications in Cologne, Uwe
worked for CMS Creative Marketing Services GmbH, an advertising agency, as a
Creative Director for several years. In 1997 Uwe left to co-found ONE-2-ONE,
which was acquired by Host Europe in March 2001. During this period he was
responsible for the successful marketing and business development of the
company. In summer 2001 he was appointed Managing Director of Host Europe GmbH,
a wholly owned subsidiary of Host Europe Plc. Uwe has been pivotal in the
significant organic growth experienced by Host Europe's German operations,
including a five-fold increase in turnover since 2000 and a four-fold increase
in the German customer base in the last 24 months.
Garry Robin Southern, aged 59, joins the Board as Non-Executive Chairman. Garry
is an internationally experienced banker having worked at a senior level for the
following organisations amongst others: Rothschild Continental Bank,
Manufacturers Hanover, NatWest and Standard Chartered. He obtained his law
qualifications from the University of the Witwatersrand and University College,
London. Since 1997 he has worked as partner and owner with an investment fund
marketing house and in asset management. He is now owner of GRS Associates,
specialising in strategic advisory and financial matters.
Dr. Jonathan Willis-Richards, aged 48, joins the Board as a Non-Executive
Director. Jonathan holds a bachelor's degree in geology from Oxford University
and a Master's degree in mining geology from the Camborne School of Mines. This
was followed by research associated with the UK geothermal energy programme
leading to his doctorate. Subsequent to several years as Earth Science Manager
of CSM Associates Limited., he went for two years to Japan as Associate
Professor of Resources Engineering at Tohoku University. Since 1996, he has been
a Director of Loeb Aron & Company Limited, an FSA regulated corporate finance
and issuing house based in the City specialising in the small cap AIM and OFEX
sectors, including natural resources, services, technology and Internet
companies
Pursuant to Schedule 2 paragraph (f) of the AIM rules, further disclosures
relating to the new directors appointed are set out at the end of this
announcement.
Editors Notes:
About Host Europe:
Host Europe PLC is an AIM listed company quoted on the London Stock Exchange,
and owns and trades primarily under the following brands:
* 'Dedicated Servers' (www.dedicated-servers.co.uk) - enterprise
hosting and dedicated servers on multiple platforms, managed services and server
co-location;
* 'Magic Moments' (www.magic-moments.com) - Internet hosting services to
the UK's SME market;
* 'WebFusion' (www.webfusion.co.uk) - Internet hosting services to the
UK's SME market;
* '123-reg' (www.123-reg.co.uk) - low cost domain name and e-mail
services; and
* 'Host Europe' - (www.hosteurope.de) - Internet hosting services to the
SME sector in Germany.
Host Europe is one of Europe's leading dedicated Internet hosting companies. It
provides a comprehensive range of services including enterprise hosting,
dedicated servers, shared server hosting, managed services, server co-location,
global domain name registration and a bespoke range of e-services, to SME
businesses.
Its hosting solutions are all serviced from Host Europe's own facilities, with
multiple connections to the Internet and 24/7 technical support ensuring
industry leading levels of reliability and quality of service.
Host Europe is the clear leader in the European dedicated server and co-location
market with over 4,200 dedicated and co-located servers hosted in its data
centres. The Company also manages over 435,000 domain names and hosts over
75,000 virtual server accounts for over 91,000 customers.
Further Enquiries:
Host Europe PLC
Abby Hardoon 020 8896 7501
Chief Executive Officer
Durlacher Limited
David Rae 020 7459 5715
Public Relations
Alex Walters 020 7938 2441
Walters Associates
Director disclosures pursuant to Schedule 2 paragraph (f) of the AIM Rules:
Victor Gareh is currently a director of the following companies (UK registered
unless otherwise stated):
130 Sutherland Avenue (1990 Limited)
56 Regents Park Road Management Limited
and, over the previous five years, was a director of the following companies (UK
registered unless otherwise stated):
Magic Moments Internet Plc (now Host Europe)
Uwe Braun is currently a director of the following companies (UK registered
unless otherwise stated):
Host Europe GmbH (Cologne, Germany)
and, over the previous five years, was a director of the following companies (UK
registered unless otherwise stated):
None
Garry Southern is currently a director of the following companies (UK registered
unless otherwise stated):
Loeb Aron & Company Ltd
Global Radio News Limited
GRS Associates
Octavia Hill Housing Trust Foundation
Doctors Direct Limited
Aeolian Power plc (not trading)
and, over the previous five years, was a director of the following companies (UK
registered unless otherwise stated):
Golf Avenue Limited
International Fund Marketing (UK) Limited
Dr. Jonathan Willis-Richards is currently a director of the following companies
(UK registered unless otherwise stated):
Loeb Aron & Company Ltd
Aeolian Power Plc (not trading)
and, over the previous five years, was a director of the following companies (UK
registered unless otherwise stated):
Ruegg & Co Limited
Save as disclosed herein, no further information is required to be disclosed in
relation to the newly appointed directors pursuant to Schedule 2 paragraph (f)
of the AIM rules
This information is provided by RNS
The company news service from the London Stock Exchange
END
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