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Timeweave plc (TMW)

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Friday 18 February, 2011

Timeweave plc

Board Changes

RNS Number : 4570B
Timeweave plc
18 February 2011

                                                                                                                              18 February 2011

Timeweave plc

("Timeweave" or the "Group")


Board Changes

Timeweave plc announces that David Craven will join the Group as Chief Executive Officer in April 2011.  David, aged 44, has been employed by the Tote since February 2005 and is currently Managing Director of Totepool and E-Gaming. David has extensive experience in the Gaming Sector having previously held senior roles with UK Betting plc and Wembley plc.

The Board also announces that Mike McLaren, Group Finance Director, will leave the Group in April 2011.

Peter Bertram, Chairman, commented: "These management changes are appropriate to reflect the Group's current size and strategic ambitions. David has considerable relevant experience and we look forward to welcoming him into the Group. Mike has served with the Group for 20 years and we thank him for the very significant contribution he has made during this time.  Mike leaves the Board with its best wishes for the future."

The results for the period to 31 December 2010 are in line with the Board's expectations and the Group will release its results on 2 March 2011. 

David Craven was previously a director of Alfabet Gaming Limited (dissolved on 3 July 2008) and Woad Barn Limited (dissolved on 22 May 2008).

Save as disclosed above, there is no information in relation to the appointment of David Craven which is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules.


For further information, please contact:


Timeweave plc

Peter Bertram, Chairman

020 7067 0700

Weber Shandwick Financial

Nick Oborne / Clare Thomas

020 7067 0700



Timeweave plc ("Timeweave" or "the Group") is the holding company of a Group which principally comprises a 50% holding in Amalgamated Racing Limited ("AMRAC") and cash deposits.


AMRAC is an equally owned joint venture company between Racecourse Media Services Limited (which is in turn owned by a number of the UK's foremost racecourses and Racecourse Investments Limited) and Timeweave.  AMRAC holds exclusive licences with 31 racecourses to broadcast pictures, audio and data from these courses to licensed betting offices in the United Kingdom and Republic of Ireland on its dedicated television channel, TurfTV.





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