Board Changes and Proposed Change of Name (0543P)

TIDMCLS

RNS Number : 0543P

Cheerful Scout PLC

28 September 2011

Cheerful Scout Plc / Index: AIM / Epic: CLS / Sector: Media

28 September 2011

cheerful scout plc ('cheerful' or 'the Company')

Board Changes and Proposed Change of Name

cheerful scout plc, the AIM-traded multi-media specialist, has restructured its Board with immediate effect to support the Company's next stage of growth as it leverages its creative expertise in the corporate communications arena.

Following the restructuring, Gary Fitzpatrick, previously Managing Director of cheerful, has become CEO, replacing Peter Litten, who now holds a dual role as Deputy Chairman and Creative Director. Mr. Litten's combined position emphasises the pivotal role the Board places on providing an innovative and creative product to its clients.

Additionally, Stephen Garbutta has joined the Board as Non-executive Director. Stephen has been a partner for 30 years with Harris and Trotter LLP, a leading firm of Chartered Accountants, and heads its Corporate Finance and Mergers and Acquisition department. Non-executive Director Neville Newman has stepped down from the Board.

cheerful has also decided, subject to shareholder approval, to change the holding company name to Aeorema Communications Group Plc. This will allow the Company to add additional disciplines and companies to complement its existing operations, cheerful scout and twentyfirst. A further announcement will be made in due course.

Mike Hale, Chairman, commented, "I am confident that this restructuring exercise will strengthen the Board significantly and, combined with our proposed name change, we are now well positioned to increase our footprint in the corporate communications arena. Gary has 17 years of experience in this area and has been key in helping the Company maintain sales and a strong balance sheet. Importantly, he was critical in organising the very successful acquisition of events company Twentyfirst last year which has given the Company a strong presence in this lucrative industry as well as a range of blue chip clients.

"As Peter's dual role demonstrates, maintaining our reputation as an innovative communication specialist is a top priority. The quality of work already achieved this year by our creative events and video production units, led by highly experienced long-term team members, is testament to this and we believe that a number of outstanding corporate videos produced have an excellent chance of winning major industry awards. I would also like to take this opportunity to thank Neville Newman for his support and work during his time at the Company and we wish him all the best in his future pursuits."

Disclosures under Schedule 2 of the AIM Rules

Gary Robert Fitzpatrick, aged 49, is or has been a director of the following companies during the previous five years:

 
 Current Directorships:          Cheerful Scout Productions Limited 
 Directorships held within the   Cheercharm Limited - was subject 
  previous five years:            to a creditors voluntary liquidation 
                                  on 22 April 1996. As a result of 
                                  this liquidation Mr. Fitzpatrick 
                                  was subject to a Directors' Disqualification 
                                  Order dated 21 April 1997 for a 
                                  period of four years which expired 
                                  on 21 April 2001. 
                                  Cheercharm Restaurants Limited - 
                                  was subject to a creditors voluntary 
                                  liquidation. As a result of this 
                                  liquidation Mr. Fitzpatrick was 
                                  subject to a Directors' Disqualification 
                                  Order dated 21 April 1997 for a 
                                  period of four years which expired 
                                  on 21 April 2001. 
                                ---------------------------------------------- 
 

As civil partner of Peter Litten, Gary Fitzpatrick has a beneficial interest in 3,400,000 ordinary shares representing 43.38% of the issued share capital of the Company.

Stephen Michael Garbutta, aged 62, is or has been a director or partner of the following companies during the previous five years:

 
 Current Directorships/Partnerships:   Grosvenor Park (Harris & Trotter) 
                                        2002 Film LLP 
                                        Harris & Trotter LLP 
                                        80 Clerkenwell Road LLP 
                                        Hartrott Nominees Limited 
                                        Gardenoak Limited 
                                        Villamaze Limited 
                                        E&J Ground Rents No2 LLP 
                                        Haymarket One LLP 
                                        Haymarket Two LLP 
 Directorships held within the         Daltenreys Limited - subject to 
  previous five years:                  voluntary creditors liquidation 
                                        9 January 1998 
                                        Harris & Trotter (Services) Ltd. 
                                        Swanfast Limited 
                                        Mancross Investments Limited 
                                        Gildmoor Limited 
                                        A1 Golf & Tennis Centre Limited 
                                      ---------------------------------- 
 

Stephen Garbutta has a beneficial interest in 50,000 ordinary shares representing 0.64% of the issued share capital of the Company.

There are no other matters, which are required to be announced with regard to the appointments under paragraph (g) of Schedule 2 of the AIM Rules.

** ENDS **

For further information visit www.cheerfulscout.com or contact:

 
 Gary Fitzpatrick       cheerful scout plc          Tel: [phone] 
                                                     0444 
 Mark Percy/Catherine   Seymour Pierce              Tel: [phone] 
  Leftley                                            8030 
 Elisabeth Cowell       St Brides Media & Finance   Tel: [phone] 
                         Ltd                         1177 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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