Stuart Chambers who has been Managing Director of Avanti Screenmedia for the past three years resigned today.
Avanti Screenmedia Board Change
Avanti Screenmedia Group PLC
11 January 2008
Avanti Screenmedia Group plc
(“Avanti” or “the Company”)
Avanti, the AIM quoted leading digital screenmedia specialist, announces the resignation of Stuart Chambers, Managing Director, from the Board of Avanti with effect from today.
Stuart Chambers has today exercised options over 200,000 ordinary shares (the “Option Shares”) representing 0.1 per cent of the current issued share capital of the Company at an option price of 1 pence per share. Upon issue of the Option Shares Mr Chambers will hold 200,000 ordinary shares.
The Option Shares will rank pari passu with the existing ordinary shares. Application has been made for the Option Shares to be admitted to trading on AIM. Dealing in the Option Shares is expected to commence on 16th January 2008. Following admission of the Placing Shares to trading on AIM the Company will have 41,186,073 ordinary shares in issue.
Commenting, Avanti’s CEO Simon Rees said: “The Board wishes to thank Stuart for his contribution to Avanti for the last three years and we wish him well in his future endeavours.”