AGM Statement
24 Novembro 2005 - 9:00AM
UK Regulatory
RNS Number:6163U
Fairplace Consulting PLC
24 November 2005
Announcement by the Board of Directors of Fairplace Consulting plc
("the Company")
AGM Statement - Trading update and Board appointment
At the Annual General Meeting to be held at 11.00 a.m. today the Chairman of the
Company, Mark Allsup, will make the following statement:
Further to the announcement on 9 November 2005, demand for the Company's City
outplacement services remains weak. The Board now anticipates that the operating
loss before goodwill for the six months to 31 December 2005 will be in excess of
the operating loss for the first half of last year. Although it is too early to
be clear about the outlook for the second half, and no early upturn in the City
outplacement market is foreseen, a number of major new projects elsewhere in the
UK are expected to come on-stream in the third quarter. In addition, while the
rate of growth in talent management revenues has been slower than planned, the
Board remains confident of an increased contribution from these services in the
second half.
The Board is delighted to announce the appointment of Ken Brotherston as a
non-executive director with effect from 1 December 2005. Mr. Brotherston's role
will be to assist the Board with development and implementation of strategy,
including achieving an appropriate capital structure and accelerating the growth
of the business.
Mr. Brotherston's career has included seven years with Korn/Ferry, one of the
world's largest search firms, where he was initially Managing Director of K/F
Selection and subsequently President of Futurestep and a member of the firm's
global operating committee. Most recently he was Executive Chairman of Morgan
McKinley Group, a leading private UK recruitment company specialising in the
financial services sector. Mr. Brotherston was appointed Chairman of Morgan
McKinley Group by 3i in 2002 and returned the company to profitability before
concluding a successful trade sale to Imprint plc in April, 2005.
Mr. Brotherston has indicated that he intends to participate in the proposed
placing of new ordinary shares to directors, employees and associate
consultants.
Christopher Hoysted, who has served as a non-executive director since 2000, did
not stand for re-election at today's Annual General Meeting and steps down from
the Board with immediate effect. The Company wishes to record its appreciation
of his valuable contribution over the past five years.
In the past five years Kenneth Brotherston, 41, has been a director of Korn/
Ferry UK Limited, Futurestep UK Limited and Morgan McKinley Group Limited, and
he is currently a director of B Enterprise Limited. There are no further
disclosures to be made in relation to his appointment under Schedule 2
paragraph G of the AIM rules.
Enquiries:
Mark Allsup, Chairman 020 7816 0707
Fairplace Consulting plc
Mark Baker / Brian Thorn 020 7845 7900
The Wriglesworth Consultancy
This information is provided by RNS
The company news service from the London Stock Exchange
END
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