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Name | Symbol | Market | Type |
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Spdr Msci Europe Materials Ucits Etf | EU:STP | Euronext | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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-3.45 | -1.11% | 306.70 | 306.40 | 307.00 | 310.65 | 306.10 | 310.65 | 256 | 16:35:24 |
Spiritel PLC 29 July 2004 For immediate release 29 July 2004 SPIRITEL PLC CHAIRMAN APPOINTMENT Spiritel plc ("Spiritel" or the "Company") (AIM: SPR), the telecommunications service business that started trading on the Alternative Investment Market of the London Stock Exchange yesterday, is pleased to announce the appointment of Lord St John of Bletso as Chairman. Anthony St John, aged 47, qualified as an attorney in South Africa, worked as an analyst and salesman in the City since 1985 and was managing director of Globix (Europe), a complex web hosting solutions provider, from 1998-2002. He is currently a consultant to Merrill Lynch, has been a non-executive director of Regal Petroleum plc since 2003 and serves on the board of a number of other private companies as a non-executive director. Anthony took his seat as a crossbencher in the House of Lords in 1978, where he has been a Member of the EU Sub Committee A on Trade, Finance and Foreign Affairs since 1998. Commenting on the announcement, Mark Willard, Spiritel's Chief Executive, said: "We are delighted to welcome Anthony St John to the Board of Spiritel. The Company is addressing the considerable opportunities we see in the UK and International telecommunications markets and Anthony's blend of finance and International experience will greatly enhance our team." Commenting on his appointment as Chairman of Spiritel, Lord St John of Bletso, said: "I am delighted to be part of the Spiritel management team going forward and I am eager to make an active contribution to the Company's future, both in the domestic and International markets." ENDS For further information: Spiritel plc Mark Willard, Chief Executive 01784 224201 John Vergopoulos, Finance Director W.H. Ireland Tim Cofman 0121 616 2101 Buchanan Communications Mark Court/Mary-Jane Johnson 020 7466 5000 About Spiritel Spiritel plc, formerly known as Roshni Investments plc, is a telecommunications service business. Yesterday the Company started trading on AIM and announced the acquisition of Expo Communications Limited ("Expo"). The acquisition of Expo represents an important first step in the development of Spiritel as a broadly based telecommunications services business. About Expo Expo has developed a team with the expertise and commercial skill to identify and exploit opportunities for arbitraging pricing differentials within the international telecommunications market. In the three years to 30 October 2003 Expo has grown from having sales of #11,000 to a business generating sales of #21.8 million and operating profits of #1.0 million. Expo has built up a customer base of significant national communications carriers by exploiting available technology in new applications and has in particular participated in the early development of GSM gateways, the use of which allowed it to offer its customers cheaper delivery on terminating their calls on the mobile network than was otherwise available to them. This has enabled Expo to achieve a size in terms of minutes throughput that allows it to move away from the use of GSM gateways and participate in the international " refiling" market, where surplus minutes, made available under bilateral agreements between the major telecommunications companies, are traded at discounted rates. Spiritel's strategy The Board of Spiritel intends to continue the organic development of the Expo business and at the same time keep under review opportunities for acquisition. In particular the Board believes that: * There are opportunities to exploit differential pricing imbalances in the international arena and that the management of Expo has the necessary skills and contacts to develop a significant profit stream in this area. * As the proportion of land to mobile traffic that Expo carries on behalf of its customers increases, there is scope for Expo to offer a fully managed service. This would enable Expo's customers to make savings in their carrier departments, optimize savings on this high value call type and achieve a degree of security of supply. As supply expands, Expo could also look at extending is customer offering to larger corporate customers. This information is provided by RNS The company news service from the London Stock Exchange END NRAQKFKPCBKDDOB
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