Vitesse Media Plc (“the Company”), the SME focused digital media and events business, is pleased to announce the appointment of Derek George Stewart, age 45, to the board as a non-executive Director, effective 25 February 2014.
Derek will oversee the development of Vitesse’s Crowdfunding operations, as announced on 28 January 2014. Derek was formerly co-founder and CEO of Global Alternative Investments, a subsidiary of BNY Mellon where he built the business from a start-up to managing US$1.9bn for institutional clients in Europe, the Middle East and Asia.
Derek has 29 years’ experience in the financial sector, including a 17-year track record managing alternative investments; generating positive returns for investors in 16 of those years. Derek is also the co-founder and a Director of Carduus Capital LLP, an FCA regulated investment manager and advisor specialising in alternative investments.
Executive Chairman, Sara Williams, said:
“Derek’s experience and knowledge of the investment market and platform technology is central to the development of Vitesse’s recently announced Crowdfunding operation. We are already working with Derek and his team towards the launch of our Crowdfunding operation, which is a natural extension of our philosophy of ‘connecting investors and entrepreneurs’ drawing on the strength of Vitesse’s existing brands and relationships.”
Derek has a beneficial interest of 3,940,512 ordinary shares in the Company, representing 8.3% of the issued share capital. If relevant resolutions are passed at the Company’s general meeting on 28 February 2014 with regards to the Company’s Tranche Two Placing as detailed in the ‘Placing and development of new SME crowd funding platform’ announcement, released 28 January 2014, Derek’s beneficial interest will increase to 5,000,000 ordinary shares in the Company, representing 10.0% of the issued share capital. Furthermore, Derek has entered into a loan agreement with the Company for £55,000, a part of the total loan also detailed in the announcement released 28 January 2014. The loan is for three years and interest is payable annually at a rate of 7% with the loan amount repayable at the end of the 3 year period.
Derek is, or has been, in the past five years a director or partner of:
Carduus Capital LLP
Hayden Astro Limited
Standish Mellon Asset Management (UK) Limited
Carduus Investments Limited
Apart from the information disclosed above there is no other information required to be disclosed under Rule 17 and Schedule Two, paragraph (g) of the AIM Rules.
For further information please contact:
Vitesse Media Plc
Sara Williams, Executive Chairman
Dave Smith, Executive Deputy Chairman
020 7250 7010
Westhouse Securities Limited
020 7601 6100
Kreab Gavin Anderson
020 7074 1800