Resignation of CEO

 

TIDMRDP 
 
RNS Number : 1785P 
Radicle Projects Plc 
12 July 2010 
 

                              Radicle Projects plc 
                          ("Radicle" or the "Company") 
 
                         Resignation of Chief Executive 
 
Radicle Projects, the AIM quoted UK company which owns and operates Australian 
agribusiness assets, announces that Tim Bennett has resigned from the Board of 
Radicle and as its Chief Executive with immediate effect, as such the 
contractual agreement between Managed Growth Australia Pty Limited and Radicle 
for the provision of executive services has been terminated. 
 
John McLennan remains the Executive Director of the Company and continues to 
have responsibility for the day to day management of Radicle's business and its 
operations. 
 
As announced on 28 June 2010, the Company has approached the holders of the 
GBP15.1 million Series A Convertible Loan Note (the "Loan Notes") (XS0305254939) 
(the "Note Holders") with proposals to convert their Loan Notes into ordinary 
equity at or near the current Radicle share price and that the Company is also 
considering the acquisition of certain other Australian operating agribusinesses 
and assets similar to those owned by Radicle to be satisfied by the issue of new 
ordinary shares in the Company at or near the current Radicle share price. The 
Company announces that discussions are on-going and anticipates being in a 
position to announce firm proposals in due course. 
 
A further announcement will be made in due course. 
 
Enquires: 
 
+-------------------------------------------+----------------+ 
| Radicle Projects PLC                      |                | 
+-------------------------------------------+----------------+ 
| John McLennan                             | [phone]  | 
|                                           | 6711           | 
+-------------------------------------------+----------------+ 
|                                           |                | 
+-------------------------------------------+----------------+ 
| Charles Stanley Securities                |                | 
+-------------------------------------------+----------------+ 
| Nominated Adviser                         |                | 
+-------------------------------------------+----------------+ 
| Russell Cook / Ben Johnston               | 020 7149 6000  | 
+-------------------------------------------+----------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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