Directorate Change
25 Octobre 2006 - 9:02AM
UK Regulatory
RNS Number:9684K
Sumus plc
25 October 2006
25th October 2006
Sumus Plc
Board Appointment
Sumus Plc (Sumus or 'the Company'), the AIM listed IFA network operator and
support services provider, today announces the appointment of Mr Andrew
Snowball as a non-executive Director.
Mr Snowball (54) is Commercial Director of Financial Services Advice & Support
Limited ("FSAS") which was acquired by Sumus in September of this year.
The #2m acquisition of FSAS, one of Scotland's leading IFA networks, added over
160 IFAs and approximately #700m of funds under advice to the Sumus Group. The
enlarged group now has in excess of 300 IFAs and approximately #2bn under
advice.
Mr Snowball is interested in 175,751 shares of Sumus plc, representing 0.6% per
cent of the issued share capital.
Mr Snowball, who will remain as Commercial Director of FSAS following his
appointment to the Sumus Board, is also a director of Financial Services Support
Limited and Mortgage Solutions Scotland Limited. There is no further information
to be disclosed under paragraph g to Schedule Two of the AIM Rules in respect of
Andrew Malcolm Burlton Snowball.
-ends-
Contact
Allan Rosengren 0117 933 0077
CEO - Sumus Plc
Tom Cooper / Paul Vann 0117 920 0092
Winningtons Financial
Note to Editors
Sumus, admitted to AIM in February 2005, is the holding company of Falcon Group
Plc, a long established and consistently profitable IFA group. Falcon was
founded in 1983 by Allan Rosengren and Julian Telling, respectively Group Chief
Executive and Group Operations Director of Sumus.
Sumus intends to become a major consolidator in the IFA sector, both by way of
organic expansion and through carefully selected acquisitions of equity stakes
in IFA firms, which then become authorised through Falcon Group. Sumus provides
business partners with working capital, compliance and risk management
resources.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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