CMS Webview names Keith Young chairman; non executive chairman Simpson resigns

Source: CMS Webview

On 17th May 2006 the company released it final results for the year ended 31 December 2006.

In the Chairman's statement we outlined a number of key actions being progressed that would ensure CMS WebView would continue to operate with minimal ongoing overheads whilst exploring further business options, in particular identifying a purchaser of the valuable intellectual property rights of our leading TDI software suite.

We are pleased to report that initial talks are currently underway with companies interested in potentially acquiring the rights to TDI on a non-exclusive basis. The companies are considering using TDI for immediate use and for further in-house development of their own data management projects. The board intends to report further on this point by the end of September 2006.

Another action outlined in the Chairman's statement was the cancellation of supplier contracts non-essential to the current objectives of the Company. We can report these contracts have been terminated, and also that we have reduced substantially our headcount and consolidated our operations into a single office location.

As a consequence of these structural changes, it also made sense to reduce the size of the current board of directors. As such, we have reluctantly agreed to part company with Mr Keppel Simpson, non executive Chairman, who has volunteered to resign with immediate effect. Mr Keith Young (currently Non Executive Vice Chairman) will assume the role of Chairman.

Bob Antell, CEO, CMS WebView, says:

"We are very grateful to Kep for his strong contribution over the years, and for his offer to resign. His pragmatic approach to CMS's needs is appreciated, as has his wise counsel as Chairman since our AIM listing in 2000. I would also like to thank Keith Young for agreeing to take on the role of Chairman. Keith has been Vice Chairman since 2000 and was Chairman from 1997 to 2000 prior to the Company's flotation."

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