Acquisition & Directorate Change
17 Januar 2005 - 8:00AM
UK Regulatory
Galleon Holdings plc ("Galleon" or "the Company")
Acquisition and Board Changes
In line with its strategic policy for acquisitions, the Board of Galleon is
pleased to announce the acquisition of the entire issued share capital of Green
and Dunne Limited, a recently incorporated company with two IPR projects. As
yet the company has no revenue but the development of these properties has
already started in Los Angeles. The team at J Christopher Entertainment will
shortly deliver first designs and story springboards.
Consideration for this acquisition comprised 1,000,000 Ordinary Shares at 15p
each, which were issued to the vendors of the company, Stephen Green and
Leonard Dunne. Application has been made for these shares to be admitted to
trading on AIM and admission is expected to take place on 21 January 2005.
Alongside this acquisition, the Board of Galleon Holdings plc announces the
appointment of Leonard Joseph Philip Dunne, 39, as Managing Director and
Stephen Michael Toye Green, 37, as Chief Executive Officer.
Both Leonard and Stephen are currently directors of Green and Dunne Limited.
Following the acquisition, Leonard and Stephen will each hold 500,000 ordinary
shares in Galleon, representing 2.53 per cent. each of the enlarged issued
share capital of the Company.
The Board also announces that Simon Driscoll has resigned from his role as
Chief Executive Officer in order to take up an appointment at another public
company. The Board would like to thank Simon for the contribution he has made
to Galleon over this period and wish him every success in the future.
For further details please contact:
Jim Driscoll, Galleon Holdings plc Tel: 01384 350 210
Ben Simons, Hansard Communications Tel: 020 7245 1100
END
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