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Name | Symbol | Market | Type |
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Thames Water 26 | LSE:TES | London | Bond |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
RNS Number:6038A TradingSports Exchange Systems PLC 07 July 2004 For Immediate Release Wednesday 7th July 2004 TRADINGSPORTS EXCHANGE SYSTEMS PLC BOARD APPOINTMENT AND TRADING UPDATE Board Appointment TradingSports Exchange Systems plc ("TradingSports" or "the Company"), the AIM listed provider of "white label" person-to-person ("P2P") betting exchange systems, is pleased to announce that it has today strengthened its management Board with the appointment of Ray Ranson as Executive Director for Business Development, with immediate effect. Mr Ranson has thus further increased his personal commitment to TradingSports, subsequent to his significant financial investment earlier in the year. He will work closely with CEO Roger Mitchell in leveraging the TradingSports technology to the sports and gaming sectors. Ray Ranson has followed a very distinguished professional sports career with successful and innovative business ventures in sports financing. Trading Update The Board asked Roger Mitchell, when he accepted the role of CEO, to undertake a full strategic review of the business and the Board will update the market as appropriate. Initial findings have shown that the current business model, which has been affected by slow adoption of exchanges in the North American Market, is still not performing as expected and this has only partially been offset by recent progress in the UK and Europe. The Board is also reviewing the Company's future funding requirements and will be examining all options in this regard. Comment Andrew Tottenham, Chairman of TradingSports, commented, "The addition of Ray to our Board is a huge boost to the Company, especially at a time when a difficult strategic review is being undertaken and the Company needs to make more of an impact in markets in which Ray has connections. He is a proven entrepreneur with an outstanding track record of success in the sports and financial sectors. His operational commitment, and involvement with the Board is very positive news indeed." Mr Mitchell, CEO, commented, "Ray's reputation in our sector is outstanding. I am very pleased that I will be able to rely on his contacts, credibility and business acumen on a day-to-day basis. It is a huge vote of confidence in the future of TradingSports." Ray Ranson commented, "I am very pleased at the prospect of working together with Roger and the Board to take TradingSports to the next level. Given the market leading technology and the continuing development of the exchange product in the markets, there is a huge opportunity to drive significant shareholder value. I have already backed that view with my recent personal investment, and I am now prepared to commit very significant time to the Company." For further information: TradingSports Exchange Systems plc Roger Mitchell, Chief Executive Officer Tel: 0141 586 3422 Background Information TradingSports, which floated on the London Stock Exchange's AIM in May 2003, enables its customers to enter the P2P betting market without the substantial investment of building, developing and maintaining their own P2P exchange systems. Aimed at the business-to-business market, TradingSports acts as an aggregator of liquidity from different sports and financial betting companies, enabling them to benefit from TradingSports' global pool of P2P bettors. Save as disclosed below, there is nothing further to disclose in relation to the appointment under schedule two, paragraph (f) of the AIM Rules: Current and past directorships: Current directorships: Ray Ranson Advisory Arley Group plc Arley Estates Limited Arley Developments Limited Sport Asset Group Limited Sport Asset Advisory Limited Sport Asset Management Limited Any Group Limited Any Quote Limited Any Finance Limited Any Debt Limited Any Claim Limited Past directorships: Coversport & Entertainment Limited Rayco Sports Limited Benfield Greig Football Finance Limited Sportsio Limited This information is provided by RNS The company news service from the London Stock Exchange END TSTUUUAPMUPCGAM
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