METTLE LIMITED SHAREHOLDER ANNOUNCEMENT
("Mettle, the company or the Group")
SHAREHOLDER ANNOUNCEMENT
CHANGES TO THE BOARD OF DIRECTORS AND THE FORMATION OF AN EXECUTIVE
MANAGEMENT COMMITTEE.
The board of directors of Mettle Limited ("the Board") wishes to announce
the following:
* We are pleased to announce the appointment of Gavin Jones, a founding
member of Mettle and joint - head of Mettle's securitisation division, to
the Board with effect from the 1st October 2001.
* With effect from the 1st October 2001 Mettle will introduce an Executive
Committee ("Exco") in order to harness and develop the considerable
management talent within the Group. The Exco will consist of the 5
executive directors and 4 senior managers. The senior managers to be
appointed are John Hamman, Neil Eppel, David Hurwitz and Steve Panos. The
Exco will meet on a monthly basis.
* Colin Greff will relinquish his executive responsibilities at Mettle
with effect from the 30th September 2001. We are pleased to announce that
Colin has agreed to stay on the board as a non-executive director. The
risk management process at Mettle will continue to report to Colin in his
new capacity. Colin has decided to set up an independent hedge fund and
Mettle has agreed, subject to the finalisation of the terms and conditions
of the fund, to co-invest. The Board would like to thank Colin for his
commitment to the Group and look forward to a close association in the
future.
* Michael Nahon has resigned from the board with effect from the 10th
September 2001 to pursue other business interests. The Board would like to
thank Michael for the significant effort he has put into the establishment
and growth of the Group and wish him well with his future endeavours.
By order of the Board
10th September 2001.
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