Last checked at 15 Jan 2007 10:34
Date: 15 January 2007
On behalf of: TMN Group plc ("TMN" or "the Company")
For immediate release
TMN Group plc- Change in Directorship
TMN Group plc (AIM: TMN), today announces that Peter Coveney, Financial Director, will retire from the Board and the Company with effect from August 2007, following the publication of the Company's results in respect of the year to 30 April 2007.
Peter joined TMN in 1999 and oversaw the Company's initial fund raising and Admission to AIM in 2000. He has supported and managed the Company's growth since its listing and will remain as Financial Director to see out the current financial year and the announcement of the Company's preliminary results for the year ended 30 April.
TMN Group will begin the search for a new Financial Director in due course.
Commenting, Mark Smith, CEO said:
"Peter's energy, drive and commitment has helped TMN Group with it's growing success over the past seven years. He has decided that the time is right to step down and introduce a fresh perspective to the Group for the next phase of growth. The Board extends its warmest thanks to Peter and will be seeking to appoint Peter's successor prior to the August retirement date set."
- ends -Enquiries to:TMN Mark Smith, CEO 020 7440 9310 Peter Coveney, FD Redleaf Communications
Emma Kane / Duncan McCormick / Samantha Robbins 020 7822 0200
Notes to Editors:
* Themutual.net ("TMN") was established in 1999. * The Company comprises of three core divisions: * TMN Media: email marketing specialist, with over 10 million highly profiled, permission-based email addresses across over 36 lists, manages the most comprehensive portfolio of email databases in the UK. Also operator of the largest online reward scheme in the UK. Clients include Sky, T-Mobile, British Gas, EMAP, Volvo and Boots. * EDR: online interactive advertising agency, plans campaigns across dozens of third party lists, including those operated by TMN Media, and is the largest buyer of email advertising in the UK. Clients span a number of sectors, including finance, motoring, publishing and shopping. * The iD Factor: specialists in online market research, with 250,000 panel members in the UK and over 4 million members across 41 territories, managed via a network of local partnerships, allowing targeted domestic and international research. Clients include numerous MR Agencies, producing work for Microsoft, Lloyds TSB, NSPCC, Persil, Carlsberg and PC World. * TMN is committed to the development of new initiatives to drive the growth of its business. * TMN Enterprise has been created to manage all new developments for the Group. The first development, launched in September, is a web-based lead generation system called "Lead It", designed to assist advertisers in building their databases. * ICD Research has been established as an autonomous division providing clients with insight and analysis of market research data. * Operating in rapidly growing market * Over ‚£1.4 billion spent on internet advertising in 2005 - ‚£917.2m spent during H1 2006, a 40.3% increase on a like-for-like basis compared with H1 2005 (Source: IAB) * Online advertising now represents over 10% of the total advertising market - and is the fastest-growing segment of the market (Source: IAB) * Online Retail spend predicted to reach ‚£40 billion by 2010 (Source: Forrester Research) * Focus on dominating UK market in key areas of online advertising and market research * Members of the Direct Marketing Association (DMA) and International Advertising Bureau (IAB)
TMN GROUP PLC