GRM Gourmet Hldgs

RNS Number:9435B
Gourmet Holdings PLC
13 August 2007


Gourmet Holdings plc ("Gourmet" or "the Company")

Board Changes

The sale of the Bell and Dragon pub/restaurants in June 2007, and the successful
restructuring of the Company has enabled the Company to be turned around, made
profitable and cash generative and to be totally focussed on operating its
successful Richoux cafe concept.

Consequently, the Board has been considering its strategic options by which to
maximise value for shareholders and it has concluded that the best way to
realise value for shareholders is to appoint a new management team that will
grow and develop the Richoux brand and develop alternative cafe / patisserie
concepts. As a result Neil Blows has been appointed as Chairman, Salvatore
Diliberto as Chief Executive and James Rhodes as Non Executive Director. The
current directors Richard Scott, Chairman, Andrew Guy, Managing Director and
Nigel Whitaker, Non Executive Director have stepped down from the Board with
immediate effect. Richard Scott will remain as a consultant to the Company until
31 December 2007.

New Board Details

Neil Martin Blows (45), Chairman, was a director of ASk Restaurants Limited 
("ASK") until March of this year. He was formerly a non-executive director of
and joined the Board of ASK in an executive capacity in 2003 as Chief Operating
Officer. Prior to this Neil was a partner at West End solicitors Glovers. He now
works as a consultant for leisure specialist solicitors Davenport Lyons.

Salvatore Diliberto (67), Chief Executive, has a lifetime of experience in the
catering industry.  He was operations manager for City Hotels from 1972 to 1984
with responsibility for thirty restaurants.  Salvatore joined City Centre
Restaurants in 1984 as a director of The Black Angus Steak Houses Limited.  He
ran an independent restaurant from 1988 to 1993 as well as various franchises
for the City Centre group.  He was managing director of ASK Restaurants Limited
from 1994 to 2004.


James Rhodes (38), Non Executive Director, has worked at LMS Capital plc, the
AIM listed independent investment company, since 2004, and is involved in the UK
direct investment portfolio. He is also responsible for UK fund investments and
quoted stocks. He is a member of the boards of PrimeStar Restaurant Group and
Emerging Markets Advisory Corporation Limited. Jamie has extensive operational
and entrepreneurial experience, having seed funded, run and sold three
successive consumer retail ventures.


The intention of the new Board is to combine the historic success of the Richoux
brand, concentrating on the execution of its core business, with the development
of one or more complementary concepts.


Richard Scott, Chairman of Gourmet said:


"The Board has deliberated fully on the best way to maximise value for
shareholders and concluded that the appointment of a management team to expand
and develop the Richoux brand and develop alternative concepts to exploit the
cafe / patisserie market is the best way forward. The restructuring that has
taken place has resulted in a focused and well run business that now requires a
different skillset on the Board to take it forward. The new management team that
have been chosen have that experience to develop and expand the brand and
Company."


Neil Blows, New Chairman of Gourmet said:


"Richoux is an inherently strong brand with a century of history behind it.
Thanks to the efforts of the outgoing Board, we are confident of building on
this success.  The new Board brings with it a team with significant operational
experience.  We all firmly believe that exemplary standards of food and service
are the cornerstone for any restaurant business.  We will focus rigorously on
the delivery of those standards at Richoux.  In addition to the existing
business, we see the opportunity to develop one or more related concepts to
drive the business forward."


The following disclosures are being made as required under Schedule 2(g) of the
AIM Rules:


Neil Blows


Previous directorships within the past 5 years:

ASK Central Limited

ASK Restaurants Limited

Grandsail Limited


Salvatore Diliberto:


Current directorships:


Chenstone Limited


Previous directorships within the past 5 years:


ASK Central Limited

ASK 25 Limited

ASK Restaurants Limited

IT'S Restaurants Limited


Other


Iceplan Limited. Salvatore was a director of the company when it was used to
acquire an ASK Restaurants Limited restaurant in Ealing. The unit was then
acquired by ASK Restaurants Limited and the company was placed into voluntary
liquidation.


James Rhodes


Current directorships:


Emerging Markets Advisory Corporation Limited

Fast Food Industries Limited

PrimeStar Restaurant Group


Previous directorships within the past 5 years:


Optio Health Products Limited


Other:


Curzonia Limited. James was a director of the company when a dispute with a
competitor over a brand name resulted in the company being put into voluntary
liquidation in May 2001 and dissolved in March 2002.


Monday, 13 August 2007


Enquires:


Gourmet Holdings                      
Neil Blows                                   0208 394 5555

Arbuthnot Securities
Nick Marsh                                   020 7012 2000
Paul Vanstone

College Hill
Justine Warren                               020 7457 2020


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

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