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Changes On Vertex Board

Changes On Vertex Board

Vertex Group Holdings Limited advises that Jon Hartley (Chairman) of Wellington, Simon Pillar of Sydney and Barry Watts of Melbourne have resigned as directors of the company with immediate effect.

Humphry Rolleston and Kevin Arscott, both from Christchurch, have accepted invitations to join the Board. The Board, which now consists of Sandy Maier, George Gould, Kevin Arscott, Humphry Rolleston and Paddy Boyle will meet next week.

Mr Hartley said he was gratified that an independent review by Auckland QC Julian Miles had vindicated the directors in respect of the preparation of the company’s prospectus. However, the whole process of last year’s public offering, and responding to the demands of two detailed external inquiries into the company’s affairs had taken its toll, and it was an appropriate time for new energy to be injected into the Board to help take the company forward. He welcomed George Gould as a major, long term investor and believed the changes were in the best interest of the company.

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