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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Enter Rights. | LSE:ERT | London | Ordinary Share | GB0008138884 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.08 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:3793Q Entertainment Rights PLC 18 March 2008 Entertainment Rights plc (the "Company") Appointment of Chief Executive Offer Update Appointment of Chief Executive The Company is pleased to announce the appointment of Nick Phillips as the Company's new Chief Executive Officer with immediate effect. The Company also announces the departure of Michael Heap, the Company's former Chief Executive Officer, who has resigned as a director of the Company in order to pursue other interests. Nick Phillips (44) has spent his entire career in the media sector and was previously Chairman and Chief Executive Officer of Warner Music UK Limited. Prior to this, Nick served as Managing Director and Chairman of Universal Music UK Limited and has a track record of achievement throughout his distinguished career. He has also served on the board of the British Phonographic Industry and is currently a non-executive director of I Media-Cast, a Monaco based company, and Edge Group Limited. No information is required to be disclosed pursuant to Listing Rule 9.6.13. Offer update Further to its announcement on 21 January 2008, the Company confirms that it has received a number of approaches and is currently in very preliminary talks with two interested parties which may or may not lead to an offer being made for the Company. The Company reiterates that there can be no certainty that any offer for the Company, if made, will be at a level which would receive sufficient support from shareholders. Preliminary announcement of results In light of the above, the Company will release its preliminary announcement of results for the year ended 31 December 2007 during the week commencing 7 April 2008. The Board anticipates that these results will be in line with current expectations. Rod Bransgrove, Chairman of the Company, commented: "There is no certainty that an acceptable offer will be made for the Company and the Board remains cognizant of its ongoing fiduciary responsibilities to the Company's shareholders. The decision to appoint Nick Phillips as Chief Executive has been taken to ensure that the Company maintains an absolute focus on delivering shareholder value and in re-establishing shareholder confidence. In Nick Phillips, we have selected a Chief Executive with a wealth of high level experience of the media sector and who can provide the leadership qualities and management skills required to develop and enhance the Company's global presence as a major media company. We are delighted to welcome him to the Board. We should like to thank Mike Heap for his significant contribution to the Company's development during his nine years as Chief Executive and we wish him every success in the future." Mike Heap added: "I have thoroughly enjoyed my nine years as Chief Executive of Entertainment Rights and wish the Company and its dedicated staff every success in the future." Enquiries: Entertainment Rights PLC Tel: +44 (0) 20 8762 6200 Elizabeth Gaines, Chief Finance & Operations Director Altium Capital Limited Tel: +44 (0) 20 7484 4040 Phil Adams Tim Richardson Bell Pottinger Corporate and Financial Tel: +44 (0) 20 7861 3232 David Rydell Amy Rajendran Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the 'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of the Company, all 'dealings' in any 'relevant securities' of the Company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which any offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of the Company, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of the Company by an offeror or the Company, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk. 'Interests in securities' arise, in summary, when a person has a long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock Exchange END MSCFKFKNQBKDKND
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