Earthport Regulatory News (EPO)

26 Sep 2008 07:00



26 September 2008

Earthport plc ("Earthport" or "Company)

Board Changes

The Board of Earthport plc announces the appointment of Lady Olga Maitland as a non-Executive Director with effect immediate effect.

Lady Olga Maitland was CEO of the International Association of Money Transfer Networks (IAMTN) from 2005-2008.  Lady Olga played a key role in the strategic development of IAMTN bringing it through three successful international conferences, developed major new alliances, and organised the first regional conference in April 2008 in Dubai. 

Prior to IAMTN, from 1997-2005, she was a freelance journalist. She has been President of the Defence and Security Forum since 1983 and President of the Algerian British Business Association since 2005. Between1992 and 1997 Lady Olga was Conservative Member of Parliament for Sutton and Cheam and was appointed Parliamentary Private Secretary to the Minister of State for Northern Ireland.

Mike Harrison, Executive Chairman of Earthport, commented: 

"I have great pleasure in welcoming Olga to the Board. As well as her extensive network and experience, her undoubted enthusiasm for and knowledge of the global remittance market will bring another layer of expertise to the Board. She has an outstanding record for getting things done and no doubt we will benefit from her many connections."

Lady Olga Maitland commented: 

"It is anticipated that the big retail banks are going to go deeper and deeper into the money transfer sector as they understand how they can benefit from it and how they can better serve the customer.  Banks are playing a much more active role, and they do have an element of influence. Earthport is becoming more involved with banks as partners and clients.  I am delighted to be joining the Earthport Board at this time of significant progress."

There are no matters for disclosure under rule 17 paragraph (g) in Schedule 2 of the AIM Rules with respect to the appointment of Lady Olga Maitland as a Non-Executive Director of Earthport plc. There are no other matters which are required to be announced with regards to this appointment as outlined under rule 17 of Schedule 2 of the AIM rules.

Following the appointment of Lady Olga Maitland and Lance Browne CBE as non-Executive Directors of Earthport plc, Jonathan Hill is stepping down from the Board with immediate effect.

Mike Harrison, Executive Chairman of Earthport, commented: 

"The Company thanks Jonathan for his contribution to the rebuilding of the balance sheet during his tenure on the Board." 

In addition Peter Chappell is joining the Board as an Executive Director with particular responsibility for Corporate Affairs and Human Resources.  He will continue as Company Secretary.

Peter Chappell was a director of Walton Consulting Limited from 1995 to 1998.  Walton was absorbed into Earthport in 1997 and he has worked at Earthport continuously since then.  From 1991-96 he was Chairman of the Employment Network (UK) Limited, an innovative computerised recruitment company that evolved onto the Internet in 1993, being renamed PeopleBank.  From 1989-91 he was a senior consultant with Trimedia Communications, a Swiss based financial public relations company.

Peter became a member of the Stock Exchange in 1966; he was a managing partner of Sheppards and Chase from 1968-89 and ran institutional sales and research from 1985-89. 

Matters for disclosure under rule 17 paragraph (g) in Schedule 2 of the AIM Rules with respect to the appointment of Peter Chappell as an Executive Director of Earthport plc:

There are no other matters which are required to be announced with regards to this appointment as outlined under rule 17 of Schedule 2 of the AIM rules.

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