RNS Number : 7008B
Adili PLC
30 October 2009
AIM: ADIL
Adili plc
("Adili" or the "Company")
Resignation of Director, Store Openings
Adili plc continues to restructure its cost base in all areas and as part of this process, Caroline Gitsham has left the Company and resigned as a director of Adili plc. We would like to thank Caroline for her contribution over the last 11 months.
The restructuring includes terminating leases to consolidate property and the renegotiation of all major contracts in the operational and marketing areas.
The opening of the retail stores in Dorchester and Central London are on target for this Saturday and next Friday respectively. The Company's strategy is unchanged. This will be a significant step in the Company's progress.
Adam Smith, CEO commented:
"This activity is in line with the financial plan that was backed by the new and existing shareholders in the funding round in August and makes us much more efficient as a company, whilst not undermining the capability to achieve our objectives. I would like to thank the staff, both past and present, for their commitment and contribution to the Company's continued growth."
Enquiries:
Adili plc Adam Smith, Chief Executive Officer T: 01258 837 437
Mark Swire, Finance Director
Seymour Pierce Nicola Marrin T: 020 7107 8000
Catherine Leftley
This information is provided by RNS
The company news service from the London Stock Exchange
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