Board Changes
June 16 2008 - 4:18AM
UK Regulatory
RNS Number : 7677W
Playgolf (Holdings) PLC
16 June 2008
Playgolf (Holdings) plc
("Playgolf" or "the Company")
Board Changes
Playgolf, the developer and operator of advanced public access multi-sport facilities in the UK, today announces that David Piggins is
stepping down as Chief Executive, but remaining on the Board in a non-executive role, in order to focus exclusively on the development of
PowerPlay Golf Limited, in which Playgolf has a 25% stake. A replacement Chief Executive will be appointed in due course.
Will Frewen, non Executive Director, is standing down with immediate effect due to other commitments. He continues to hold 9.95% of
Playgolf.
Commenting Mike Mealey, Chairman said:
"David has played an important role in developing both PlayGolf and PowerPlay Golf. The Board feel that the time is now right for David
to focus his energies on the development of PowerPlay Golf. He remains our second biggest shareholder and as such his focus is still very
much on the development of the business and he will continue to fulfil an important role on the Board.
"We have appointed Andrew Oakes as a consultant to the Company with responsibility to complete the East Kilbride development although he
is not being appointed to the Board. Andrew's extensive experience in the property sector will be invaluable to Playgolf in the coming
months as we move towards the opening of the project at East Kilbride and pursue the interest in new sites to facilitate the roll-out across
the UK of our multi-sports facilities."
Andrew Oakes is a Chartered Surveyor and over the last 30 years has been involved in the identification, financing, acquisition,
construction, letting and sale of a large number of commercial property projects. He is Chairman of the property development and investment
group Marlborough Developments, a local non-executive Chairman of Clydesdale Bank, and a trustee of the charity SportAid.
For further information:
Mike Mealey
Playgolf (Holdings) plc 01926 422 320
Paul Shackleton/Tessa Smith
Daniel Stewart & Company plc 020 7776 6550
Trevor Phillips/Mark Longson
Square1 Consulting 020 7929 5599
This information is provided by RNS
The company news service from the London Stock Exchange
END
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