Directorate Change
01 Dezember 2010 - 8:01AM
UK Regulatory
TIDMWEST
RNS Number : 1262X
Western & Oriental plc
01 December 2010
Western & Oriental plc (the "Company")
Board changes
Further to the announcement made by the Company on 26 November 2010, Western &
Oriental plc, the specialist and luxury travel group, announces further changes
to its board of Directors.
Andrew Neil, Pavlos Savvides and Rajinder (Raj) Kumar were appointed
Non-Executive Directors of the Company on 30 November 2010. Andrew Neil has also
been appointed as Chairman of the Company. Further details in relation to the
new directors, including biographies and information required in accordance with
Schedule Two paragraph (g) of the AIM rules, are set out in the schedule
appended to this announcement.
As a result of these changes, and following recent director resignations, it is
the board's intention to re-constitute the committees of the board shortly.
Andrew Neil, new Chairman of Western & Oriental plc said:
"Pavlos Savvides, Raj Kumar and I are pleased to be joining the board of Western
& Oriental. The Company, through its well recognised travel brands and
successful Events business, has great potential in the world of luxury and
specialist travel. We are all investors in the Company and share a desire with
all shareholders for the Company to be profitable and to seek to enhance
shareholder value.
We will be discussing plans for the future of the business in the coming weeks
with the aim of advising shareholders of our intentions for the business going
forward by the end of January 2011"
Enquiries:
+-------------------------------+-------------------------------+
| Western & Oriental plc | |
+-------------------------------+-------------------------------+
| Andrew Neil | +44 207 581 1655 |
+-------------------------------+-------------------------------+
| | |
+-------------------------------+-------------------------------+
| Collins Stewart | |
+-------------------------------+-------------------------------+
| Adrian Hadden | 020 7523 8350 |
+-------------------------------+-------------------------------+
| | |
+-------------------------------+-------------------------------+
| Walbrook PR | |
+-------------------------------+-------------------------------+
| Paul McManus | 020 7933 8787 or 07980 541893 |
+-------------------------------+-------------------------------+
| | paul.mcmanus@walbrookpr.com |
+-------------------------------+-------------------------------+
About Western & Oriental plc
Western & Oriental is a specialist luxury travel group with a number of
established high quality brands. The company was admitted to trading on AIM
under the ticker symbol WEST in March 2006. The Group acts as a tour operator,
travel agent and conference and incentive organisers, offering a premium service
for tailor-made and specialist packaged holiday programmes to destinations
worldwide.
For more information on Western & Oriental and its individual luxury travel
brand websites, go to www.westernorientalplc.com.
APPENDIX
Andrew Ferguson Neil (Aged 61)
Andrew Neil is a publisher, broadcaster and company chairman. In additional to
broadcasting responsibilities on BBC TV and Radio, Andrew Neil is Chairman and
Editor-in-Chief of Press Holdings Media Group, publishers of The Spectator
publications and World Media Rights and Chairman of ITP (Dubai). He was Chairman
of Peters, Fraser & Dunlop until September 2010. Previously Andrew has been
lobby correspondent in the British Parliament, the White House, then British
Editor of The Economist, Editor of The Sunday Times of London and was Executive
Chairman of Sky Television when it launched in 1989. He was also a member of the
International Advisory Board of Al Jazeera, and Publisher of The Scotsman Group
of newspapers. Andrew has an MA (Hons) in Political Economy, Political Science
and American History. He is a Fellow of the Royal Society for Arts (FRSA) and
holds several honorary degrees.
In addition to the directorship of the Company, Andrew Neil holds or has held
the following directorships, and is or was a member of the following
partnerships, over or within the past five years:
+-------------------------------+-------------------------------+
| Directorships/partnerships | Current/Previous |
| | 2005 to date |
| Spectator Group | 2006 to date |
| | 2005 to date |
| World Media Rights Limited | 1983 to date |
| | 2008 to September 2010 |
| ITP (Dubai) | 2008 to September 2010 |
| | 2005 to 2007 |
| Glenburn Enterprises Limited | 1999 to 2008 |
| | 1999 to 2006 |
| PFDH Limited | |
| | |
| The Peters Fraser & Dunlop | |
| Group Limited | |
| Ferguson Enterprises Limited | |
| | |
| Policy Institute | |
| | |
| Business Europe Limited | |
+-------------------------------+-------------------------------+
Mr Neil owns 240,000 Ordinary shares of the company.
Pavlos Savvides (Aged 61)
Pavlos Savvides is the Executive Chairman of Options Cassoulides Plc, a Cypriot
listed group with a printing and publishing business in Cyprus and an investment
in Choice, an international business providing services to the pharmaceutical
industry. Options Cassoulides is also a 27.8% investor in Western & Oriental
plc. He has a number of business interests in Greece and the UK and was Chairman
of Universal Savings Bank, a Cypriot bank, until October 2010. Pavlos is a
Chartered Accountant and has been involved in M&A for many years, principally in
South East Europe. He has previously served as the Minister of Transport and
Communications and Chairman of the Cyprus Stock Exchange.
In addition to the directorship of the Company, Pavlos Savvides holds or has
held the following directorships, and is or was a member of the following
partnerships, over or within the past five years:
+-------------------------------+-------------------------------+
| Directorships/partnerships | Current/Previous |
| | Current |
| Acompli Limited | Current |
| | Current |
| The Travel Choice Team | Current |
| Limited | Current |
| Choice Live Limited | Current |
| | Current |
| Choice Pharma Limited | Current |
| | Resigned February 2010 |
| Options Cassoulides PLC | 2007 - 2010 |
| (Cyprus) | |
| Grace Management Limited | |
| (Cyprus) | |
| K.P. Grace Holdings Limited | |
| (Cyprus) | |
| Mad Dog SA (Greece) | |
| | |
| European Medical Advisory | |
| Services Limited | |
| USB Bank PLC (Cyprus) | |
| | |
+-------------------------------+-------------------------------+
Mr Savvides has an interest over shares of the company by virtue of being
Executive Chairman and a shareholder of Options Cassoulides PLC, which owns
100,000,000 Ordinary shares of the company.
Rajinder (Raj) Kumar (Aged 44)
Raj Kumar has 24 years experience in the Travel industry and a founder of a
number of travel businesses. He was an Executive director of Western & Oriental
plc from 2007 to 2008 and is a 7.37% shareholder in the Company. From 1991 Raj
was Managing Director and part-owner of the The Destination Group Limited, a
successful online tour operator that was subsequently sold to lastminute.com in
2002. In addition to a number of property development companies, including
Key2Dubai, which Raj still partly owns, he also founded Key2holidays which was
sold to the company in 2007. Raj is currently a director and shareholder of
Holiday Rental Homes and Villa Select which he purchased form the Company
earlier this year.
In addition to the directorship of the Company, Raj Kumar holds or has held the
following directorships, and is or was a member of the following partnerships,
over or within the past five years:
+-------------------------------+-------------------------------+
| Directorships/partnerships | Current/Previous |
| | 1997 to date |
| Destination Marketing Limited | 1997 to date |
| | 2003 to date |
| First Public Relations | 2004 to date |
| | 2002 to date |
| Greville Estates Limited | 2010 to date |
| | 2010 to date |
| Water Newton | 2002 to 2007 |
| | 2007 to 2008 |
| Key2Dubai LLC | |
| | |
| Holiday Rental Homes Limited | |
| | |
| Villa Select Limited | |
| | |
| Key2holidays Limited | |
| | |
| Western & Oriental plc | |
+-------------------------------+-------------------------------+
Mr Kumar owns 26,500,000 Ordinary shares of the company.
In accordance with Schedule Two paragraph (g) of the AIM rules, there are no
additional disclosures to be made in relation to any of the directors listed
above.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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