RNS Number : 8704J
  Teleunit S.p.A
  10 December 2008
   
   10 December 2008

    Teleunit SpA
    ("Teleunit" or "the Group"; stock code: TLU)


    Director Resignation


    Teleunit wishes to announce that, as from 30 November 2008, Michael Phair has stepped down as non-executive director of the Company, in
order to devote more time to his other non-executive undertakings.
 
Gianfranco Cimica, Chairman, stated: 
    "Michael has served on the Board since our flotation in 2004 and has been involved with the transformation of the Company following
dramatic regulatory change in our principal Premium Access business line and advised on the preparation of Neomobile for its recently
announced sale of a minority stake to MPS Ventures. We thank him for the dedication to Teleunit and wish him our best for his other
endeavours. Michael will continue for the time being with an advisory role and we look forward to his ongoing input."
 
Michael Phair added:
    "I have greatly enjoyed my time with Teleunit and am leaving the Company at a time when it has a strong cash position, a solid term debt
profile and, based solely on the residual holding in Neomobile, an implied value of many times the current AIM market capitalisation. I
remain a significant shareholder and will follow the Company with interest as it continues to build value for its shareholders."




    About Teleunit SpA
    Based in Perugia in Central Italy, Teleunit is a telecom services provider to both business and residential customers throughout Italy.
The Group operates in three distinct sectors: voice and data services (providing fixed line voice and data, wholesale, and wireless services
to customers across Italy) and premium access services. Through its subsidiary, Neomobile SpA, Teleunit is also an active player in the
Mobile Entertainment D2C arena. The Group is looking to expand its operations selectively in Italy and internationally. Teleunit listed on
AIM in May 2004, the first Italian company to complete a primary listing in London. For more information, please visit the website:
http://ir.teleunit.it

    For further information, please contact:

 Gianfranco Cimica, Chief Executive Officer, Teleunit SpA  00 39 075 528 3939

 Oliver Rigby, Daniel Stewart & Company Plc                     020 7776 6550



This information is provided by RNS
The company news service from the London Stock Exchange
 
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