» Appointment of Director

Appointment of Director

Posted on: 28 November 2007


The Company is pleased to announce the appointment of Corneliu-Dan Pascariu as an additional non-executive director. Mr Pascariu, aged 57, joins the board with immediate effect.

The following are Mr Pascariu's current directorships and those held within the last five years:

Current DirectorshipsPast Directorships
Unicredit Tiriac Bank SABank Austria Creditanstalt SA
CAIB Securities SAHVB Bank Romania SA
CAIB Financial Advisors LtdHVB Tiriac Bank Romania SA
HVB Banca Pentru Locuinte SATransfond SA
HVB Leasing LtdRompetrol SA
The Rompetrol Group Ltd
Heritage Restaurant SA

A civil case brought against Mr Pascariu in Romania has been pending since 1996. The case relates to a dispute over the payment of an amount authorised by a customer of the Romanian Bank for Foreign Trade and made by the bank on behalf of its client. Mr Pascariu was at the time the Chief Executive Officer of the Romanian Bank for Foreign Trade and the civil case was brought against him in this capacity alongside a number of other executives of the bank who had direct operational responsibility over the relevant client account. Legal advice sought has indicated that Mr Pascariu discharged his duties properly at the time and that the charges brought are without foundation.

Save for the information disclosed above there is no other information falling to be disclosed under Schedule Two, paragraph (g) of the AIM Rules.