Directorate Change (0133F)

TIDMDESC

RNS Number : 0133F

Designcapital PLC

08 June 2012

 
 8 June 2012 
 

designcapital plc (AIM: DESC)

("designcapital" or "the Company")

Directorate Change at Artelano International Ltd

and

allotment of shares

Designcapital plc (AIM: DESC), the AIM listed investment company dedicated to high-end contemporary furniture design, is pleased to announce the appointment of Marc Bonnet (aged 44), as Executive Director of Artelano International Ltd.

As part of this recruitment, Marc Bonnet is becoming a 20% shareholder of Artelano International Ltd., which previously was wholly owned by designcapital.

Marc brings to the Artelano brand more than 20 years of experience in the high-end furniture industry, gained in various operational, commercial and executive positions, most notably at Moissonnier and Collection Pierre.

Since 2005, and until his recruitment by Artelano International Ltd, he was MD-Commercial Director of Collection Pierre. He is experienced in the management of both residential and commercial projects, including projects for prestigious 5-Star, luxury, international, hotels. At Collection Pierre, he also developed MMX, a decorator brand designed by the acclaimed decorator Jean Louis Deniot. Marc is also the owner of a furniture show-room, located in Pimlico, London, where Collection Pierre products as well as other luxury brands are distributed.

Marc has an extensive knowledge of the furniture/luxury industry, and well established relationships with not only decorators and architects, but most importantly with designers and manufacturers.

Acting as the new Managing Director of the Artelano brand, his most immediate objective will be to identify new designs and products, co-ordinate the production of exclusive and limited series of high-end furniture products, assist clients in their contract projects, to drive sales and the redevelopment of the Artelano brand.

Frederic Bobo, Executive Chairman of designcapital, commented:

"We are delighted that Marc has agreed to join Artelano and very much look forward to working closely with him. We do not doubt that the Artelano company shall be able to leverage off Marc international network of contacts and relationships in the luxury furniture contract industry. It is an important recruitment for our Artelano brand that had stopped its activity since the liquidation of the French operations in May 2011. We are confident that our entrepreneurial partnership with Marc shall positively develop in the coming months."

Subscription

The Company is further pleased to announce that a total of 200,000 new ordinary shares of designcapital have been subscribed for by Marc Bonnet, through his fully owned company CP Ltd, for a consideration of GBP20,000 .

Application has been made to the London Stock Exchange for the 200,000 new shares, ranking pari passu in all respects with the existing shares in issue, to be admitted to trading on AIM and it is expected that admission will take place on June 11(th) 2012.

Following this allotment the Company will have 71 280 401 shares in issue.

- ENDS -

Enquiries:

Contact:

 
 designcapital Plc 
 Mike Hosie 
 Frederic Bobo                         [phone] 
 
 Libertas Capital Corporate Finance 
  Limited 
 Tim Cofman 
 Sandy Jamieson                        [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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