Board Change

RNS Number : 0003H

Boomerang Plus PLC

30 October 2008

 



Date:                      30 October 2008

On behalf of:          Boomerang Plus plc ("Boomerang", "the Group" or "the Company") 

Embargoed until:   0700hrs

Boomerang Plus plc 

Board Change 

Boomerang Plus plc (AIM: BOOM.L), a profitable and vertically integrated, multi-genre, independent television production group operating within the Nations and Regions, is pleased to announce the appointment of Richard Huntingford as Non-Executive Chairman with immediate effect. Roger Moore will remain on the Board as an independent Non-Executive Director. 

Richard, 52, was CEO of Chrysalis Group plc from December 2000 until September 2007, having joined as Corporate Development Director in June 1987. At Chrysalis he was responsible for building the company into a broadly-based media group with significant radio, television and music businesses. During this period, Chrysalis Television become a leading producer of drama, entertainment, factual and sports programming, with flagship shows such as Midsomer Murders, Richard and Judy, Top Ten, F1 and Football Italia, prior to its sale to All3Media in August 2003. Richard founded Chrysalis Radio in 1993 which he developed into one of the leading brand-led radio groups with its successful Heart, Galaxy and LBC stations prior to its £170 million sale to Global Radio in July 2007. From September 2007 Richard was Executive Chairman of Virgin Radio until its acquisition by Times of India in June 2008. Richard qualified as a Chartered Accountant with KPMG and has over 20 years of experience at PLC Board level in the media industry.

Commenting, Huw Eurig Davies, CEO of Boomerang, said: 

"On behalf of the Board, I would like to thank Roger for his contribution to Boomerang and in particular with his significant involvement in the Company's admission to AIM. We welcome his continued support as a Non-Executive Director on the Board.

"We are delighted to welcome Richard to our Board. He has an impressive track record and brings a wealth of media experience with him which will be a valuable addition to the Company. The Group is at an exciting stage in its development and we believe Richard's experience will make a substantial contribution to our next phase of development as the Group continues to grow."

Richard Huntingford, New Non-Executive Chairman of Boomerang, added:

"I am thrilled to have joined Boomerang at such an exciting stage in its development. The Company has enjoyed strong growth over the last year and published a very positive set of preliminary results last week. With a strong balance sheet and proven and ambitious management and staff, the Company is in an excellent position to capitalise on the considerable opportunities within the changing media marketplace."

Richard Norman Legh Huntingford has previously held the following directorships during the last five years:

Current Directorship	Date
RNLH Consulting Limited	25 Sept 2007

Past Directorships	Date
AIR Overworld Limited	1994 - 2007
AIR Records Limited	1994 - 2007
Air Studios (Lyndhurst) Limited	1990 - 2006
Chrysalis Digital Radio Limited	2000 - 2007
Chrysalis Group plc	1987 - 2007
Chrysalis Holdings Limited	1990 - 2007
Chrysalis Limited	1997 - 2007
Chrysalis Mobile Solutions Limited	2004 - 2007
Chrysalis New Media Investments Limited	2001 - 2007
Chrysalis Picture Library Limited	2000 - 2007
Chrysalis Radio Holdings Limited	2002 - 2007
Chrysalis Radio Limited	1995 - 2007
Chrysalis Radio London Limited	1993 - 2007
Chrysalis Retail Entertainment Limited	1993 - 2007
Chrysalis Television Mobiles Limited	1996 - 2007
Faze Three (East Midlands) Limited	1997 - 2007
Galaxy Radio Limited	1994 - 2007
Golden Square Networks Limited	2007 - 2008
Heart TV Limited	1998 - 2007
Puremix Limited	2000 - 2007
Radiocentre Limited	2007 - 2008
Rivals Europe Limited	2000 - 2007
Rojo Leisure Limited	1999 - 2007
Salamander Books Limited	1999 - 2005
SMG Digital Radio Limited	2008 - 2008
The Clean Car Company Limited	1988 - 2005
The Echo Label Limited	1993 - 2007
Virgin Mobile Holdings (UK) plc	2005 - 2006
Virgin Radio Holdings Limited	2007 - 2008
Virgin Radio Limited	2007 - 2008
Washworks (MK) Limited	1992 - 2005

Mr. Huntingford has confirmed that no further disclosures are required under Schedule 2 paragraph (g) of the AIM Rules.

- Ends -

For further information, please contact:

Boomerang Plus plc	Via Redleaf Communications
Huw Eurig Davies, Chief Executive
Mark Fenwick, Finance Director
Richard Huntingford, Non-Executive Chairman	Tel: [phone]
Altium Capital Limited
Tim Richardson / Melanie Szalkiewicz	Tel: [phone]
Redleaf Communications	Tel: [phone]
Sanna Sumner/ Anna Dunkin	[e-mail]

Notes to Editors: 

• The Group, founded in 1994, has extensive experience in producing content in a variety of genres, including youth programming, music, entertainment, children's programming, extreme sports and drama

• The Group has good revenue visibility as a high proportion of its budgeted revenue is contracted with broadcasters 

• The market for independent television production companies in the Nations and Regions has grown following quotas from the regulator Ofcom, which require that, depending on the broadcaster, between 10 per cent. and 50 per cent. of qualifying programming hours must be sourced from outside the M25 boundary

• Boomerang is ranked in the top five independent television production companies, by revenue, in the Nations and Regions according to the Broadcast Survey (Nations and Regions) 2007

• The Board's strategy is both to achieve strong organic growth by leveraging the Group's existing customer base coupled with strategic acquisitions, with a view to becoming a major supplier to UK networks looking to satisfy their Nations and Regions quotas

• Boomerang is well placed to lead the consolidation of regional independent production companies across the UK. Target companies which meet the acquisition criteria will have a strong track record, which will assist the Group to grow further, outside Wales

 

END

 

 

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