Innovative Software Direct plc
LSE : ISDP

March 10, 2008 08:40 ET

Statement re Board changes and Substantial Shareholdings

LONDON, UNITED KINGDOM--(Marketwire - March 10, 2008) - Innovative Software Direct plc (LSE:ISDP) -

Board Appointments

Paul Farn and Ian Byron directors of Powerdial have been appointed to the ISD board with immediate effect. Paul Farn will assume the role of CEO of the ISD Group.



Paul Farn has held the following Directorships in the past 5 years:

Current Previous

Powerdial Systems Limited None
Powerdial Services Limited

Ian Byron has held the following Directorships in the past 5 years:

Current Previous

Powerdial Systems Limited None
Powerdial Services Limited

Michael Hart and Hubert Matthews have resigned with immediate effect.


ISD/Powerdial trading update

The acquistion by ISD of Powerdial completed on December 21st 2007 has now been fully integrated into ISD. Early trading results are very encouraging.

Substantial Shareholdings

On 10 March 2008 ISD received notification under section 198 of the Companies Act 1995, that on the 9 February 2008 Clive Sawkins sold his entire interest of 625,000 Ordinary Shares in ISD.

Clive Sawkins no longer holds any interest in the Company's shares.

Martin Isaacs and his connected family interests have acquired these 625,000 shares and an additional 340,000 in ISD, bringing his total shareholding to 2,055,000 representing 15.51 % of the total issued share capital of ISD.

The directors' resulting shareholding is 1,820,000 ordinary shares, representing 13.7% of the total issued share capital.

The directors of the Company accept responsibility for this announcement.

Contact Information

  • Innovative Software Direct plc
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