Vitesse Media PLC Vitesse Media: Non-executive Director appointment (9259A)
February 26 2014 - 2:02AM
UK Regulatory
TIDMVIS
RNS Number : 9259A
Vitesse Media PLC
26 February 2014
26 February 2014
Vitesse Media Plc
Appointment of non-executive Director
Vitesse Media Plc ("the Company"), the SME focused digital media
and events business, is pleased to announce the appointment of
Derek George Stewart, age 45, to the board as a non-executive
Director, effective 25 February 2014. Derek will oversee the
development of Vitesse's Crowdfunding operations, as announced on
28 January 2014. Derek was formerly co-founder and CEO of Global
Alternative Investments, a subsidiary of BNY Mellon where he built
the business from a start-up to managing US$1.9bn for institutional
clients in Europe, the Middle East and Asia. Derek has 29 years'
experience in the financial sector, including a 17-year track
record managing alternative investments; generating positive
returns for investors in 16 of those years. Derek is also the
co-founder and a Director of Carduus Capital LLP, an FCA regulated
investment manager and advisor specialising in alternative
investments.
Executive Chairman, Sara Williams, said:
"Derek's experience and knowledge of the investment market and
platform technology is central to the development of Vitesse's
recently announced Crowdfunding operation. We are already working
with Derek and his team towards the launch of our Crowdfunding
operation, which is a natural extension of our philosophy of
'connecting investors and entrepreneurs' drawing on the strength of
Vitesse's existing brands and relationships."
Derek has a beneficial interest of 3,940,512 ordinary shares in
the Company, representing 8.3% of the issued share capital. If
relevant resolutions are passed at the Company's general meeting on
28 February 2014 with regards to the Company's Tranche Two Placing
as detailed in the 'Placing and development of new SME crowd
funding platform' announcement, released 28 January 2014, Derek's
beneficial interest will increase to 5,000,000 ordinary shares in
the Company, representing 10.0% of the issued share capital.
Furthermore, Derek has entered into a loan agreement with the
Company for GBP55,000, a part of the total loan also detailed in
the announcement released 28 January 2014. The loan is for three
years and interest is payable annually at a rate of 7% with the
loan amount repayable at the end of the 3 year period.
Derek is, or has been, in the past five years a director or
partner of:
Current Directorships Previous Directorships
Carduus Capital LLP Standish Mellon Asset Management
cab:app Limited (UK) Limited
QiQ Creative Limited
Hayden Astro Limited
Carduus Investments Limited
Apart from the information disclosed above there is no other
information required to be disclosed under Rule 17 and Schedule
Two, paragraph (g) of the AIM Rules.
For further information please contact:
Vitesse Media Plc
Sara Williams, Executive Chairman
Dave Smith, Executive Deputy Chairman 020 7250 7010
Westhouse Securities Limited
Martin Davison
David Coaten 020 7601 6100
Kreab Gavin Anderson
Robert Speed 020 7074 1800
This information is provided by RNS
The company news service from the London Stock Exchange
END
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