Mears Regulatory News (MER)

30 Jan 2007 07:01

Mears Group PLC30 January 2007 30 January 2007 MEARS GROUP PLC ("Mears" or the "Company") Board Changes Mears announces that Stuart Black has resigned his position as Chief ExecutiveOfficer of the Company and relinquished his executive functions with effect fromtoday. The Board has accepted his resignation as Chief Executive Officer andconveys its thanks to him for his contribution and offers Stuart its best wishesfor the future. Bob Holt, Executive Chairman, will assume the role of CEO and David Miles (aged40) has today been appointed a Director of the Company and Managing Director ofMears Social Housing. David has been with Mears since May 1996 and is currentlyManaging Director of Mears' Southern Social Housing Division. Bob Holt will be reducing his outside commitments to allow him to devotesubstantially all of his time to the development of the Company. Commenting on these changes Chairman, Bob Holt said:- "In welcoming David Miles to the Board I have every confidence that hiscontinued contribution will be invaluable to the Group. Having managed ourlargest division for a number of years I have no doubt that by extending hisrole we will bring added depth and insight at Board level to improve further ourexcellent operational delivery and reputation." Mr Miles holds 100,000 ordinary shares of 1p each in the Company ("Shares"),representing approximately 0.16 per cent. of the Company's issued ordinary sharecapital. In addition, Mr Miles holds options over 90,000 Shares. Mr Miles is a director of Mears Limited, Mears Building Contractors Limited andEvolve Housing Limited. Mr Miles has confirmed that there is no furtherinformation required to be disclosed under Schedule 2(g) of the AIM Rules. For further information, please contact: Bob Holtbob.holt@mearsgroup.co.uk07778 798 816 ENDS This information is provided by RNS The company news service from the London Stock Exchange