Board Changes
10 Julio 2003 - 12:19PM
UK Regulatory
RNS Number:4325N
Cardpoint PLC
10 July 2003
10 July 2003
Cardpoint plc
Board Changes
Creation of an operating board
Cardpoint plc has grown rapidly since its flotation in June 2002 both
organically and more recently by acquisition. The Directors believe that it is
an appropriate time to establish an operating board, Cardpoint Group plc. The
operating board will consist of the current executive directors of Cardpoint plc
including Nigel Mills and Mark Kropacz together with Andrew Martin who will join
the Company from Securicor Cash Services Limited, following the acquisition of
its subsidiary Securicor Cash Machine Limited by Cardpoint plc on the 20 June
2003.
Mark Mills, CEO of Cardpoint plc, said: "We believe that this new structure will
allow the Group's operational management to focus on the running and strategy of
the business whilst the board of the plc remains flexible to the needs of the
rapidly growing business."
As a result of this new operating structure the main board will be reduced to
consist of Mark Mills and Chris Hanson, Chief Executive Officer and Finance
Director respectively together with the existing non-executive directors with
Mark Kropacz and Nigel Mills resigning as directors of Cardpoint plc with
immediate effect and both being appointed to Cardpoint Group plc
contemporaneously.
- Ends -
For further information:
Cardpoint Plc
Mark Mills, Chief Executive Officer Tel: +44 (0)1253 785 808
mark.mills@cardpointplc.com www.cardpointplc.com
------------------------------ -----------------------
Media enquiries:
Bankside
Henry Harrison-Topham / Ariane Vacher Tel: +44 (0) 207444 4140
ariane.vacher@bankside.com www.bankside.com
----------------------------- -------------------
Notes to editors
About Cardpoint
Cardpoint plc is an independent owner and operator of 1,700 ATMs across the UK.
The Company typically charges #1.50 per cash withdrawal, with their customers'
permission, and receives transaction revenues for balance enquiries and card
rejections.
The ATMs are typically placed in high footfall locations including shopping
centres, motorway service stations, hospitals and train stations, but in areas
that are not traditionally serviced by other ATM providers, thereby offering
their customers greater convenience and access to cash.
Cardpoint acquired Securicor Cash Machine Limited in June 2003 and its smaller
competitor, Green Machine, in October 2002. Cardpoint plc also acquired PT
Distribution Limited (PTD), which comprises the electronic mobile top up
division of Project Telecom plc, for a total cash consideration of #1.7 million
02 July 2003. The division, which trades under the name of 'E Top Up', operates
approximately 2,900 mobile top-up terminals in retail outlets across the UK
Cardpoint is a full member of the LINK Network, the only branded shared network
of ATMs and self-service terminals in the UK, which allows 80 million
cardholders of every member financial institution to use the ATM of another LINK
member. Cardpoint listed on the Alternative Investment Market in June 2002. The
Company's Stock Exchange EPIC is CASH.L
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOABRGDRRBBGGXG