Marlwood Plc
LSE : MARL KY

April 18, 2011 04:47 ET

Board Change, Audited Results & Appointment of New Broker

MARLWOOD PLC

BOARD CHANGE, AUDITED RESULTS AND APPOINTMENT OF NEW BROKER

Marlwood plc ("Marlwood, the Company or the Group") (CSX:MARL KY), a group specialising in the licensed

goods business today wishes to update the shareholders on various matters.

Resignation of Non-executive

The Company wishes to announce the resignation of Andrea Conrad as a Non-Executive Director who as a result

of her family's work commitments is unable to remain as a director of the Company due to the potential

perception of a conflict of interest. We would like to wish Andrea success in the future and thank her for

all her efforts and contributions to the Group.

We will be seeking a replacement to act as non-executive chairman.

Appointment of new broker

We regret to announce that Cenkos Channel Islands Limited ("Cenkos") have resigned from their position as

broker to the Company. As a result the shares in the Company have been suspended from trading by CSX

pending the appointment of new broker.

Initial indications of the resignation were made on 30th November however discussions continued with Cenkos

through December and early 2011 regarding continuing the agreement until at least the end of December 2012

and the Company believed that the result of those discussions would be that Cenkos would remain in support

of the Company. It was a disappointment and surprise to the Company that the resignation was confirmed

with effect from 31 March 2011.

While we are keen to restore trading in the Company's shares as quickly as possible we want to appoint a

broker who shares our vision of the Group's future and therefore we continue to find a suitable

replacement.

Announcement of audited results

Due to providing significant assistance in the Company's financial affairs White & Co, our previous

auditors, are unable to continue to act as auditors. This is due to the Ethical Standards set for auditing

firms and the perceived independence threat if they were to sign off on our audit. White & Co continue to

act as our financial advisors. As a result we are seeking an audit firm who will sign off the audit and we

expect this process to complete in the coming weeks.

The Directors of the Company take responsibility for this announcement.

For further information, please contact:

Marlwood plc

Pam Hulme, Managing Director +44 161 487 5130

Corporate Advisor

Nick Michaels, Alfred Henry Corporate Finance Limited +44 207 251 3762

Broker

Robert Tannahill, Cenkos Channel Islands Limited +44 1481 732 766

Contact Information

  • Marlwood Plc