Avanti Communications Group plc
Avanti Communications Group plc (“Avanti” or the “Company”) announces that Peter Reed, Craig Chobor and Michael Leitner have joined the Board of Avanti as non-executive directors with effect from 27 January 2017.
Peter Reed is a Partner and Portfolio Manager at MAST Capital Management, LLC. Mr. Reed is also a member of the Investment Committee and the Risk Committee. In addition to his role at MAST, Mr. Reed is the Chief Investment Officer of Great Elm Capital Management, Inc. and the Chief Executive Officer of Great Elm Capital Corp. Prior to joining MAST in 2004, Mr. Reed was an investment banking analyst at Brown, Gibbons, Lang & Company where he worked on mergers and acquisitions, financial restructurings and debt and equity private placements for middle market companies. Mr. Reed is currently a Director of International Wire Group Holdings Inc., Avanti Communications Group plc and Great Elm Capital Group, Inc., as well as Chairman of the Board of Great Elm Capital Corp. and Chairman of the Board of Nebraska Book Holdings, Inc., and is a Trustee of the Nativity Preparatory School in Boston. Mr. Reed earned his BS in Finance from Miami University in 2002.
Craig Chobor joined Solus at its inception in July 2007, and has been a member of the hedge fund investment team since the funds’ inceptions under the management of Stanfield. Mr. Chobor joined Stanfield in 1999 as a Credit Analyst covering retail, cable, euro cable, printing, publishing, television, radio, media, wireless, and satellite telecommunication. Mr. Chobor began his career at Scudder Kemper Investments in 1997 as a Senior Associate/Portfolio Assistant in the Emerging Markets Group. Mr. Chobor received a BS in Economics and International Business from the Pennsylvania State University in 1995, and an MBA in Finance from Pace University in 2001. He is a Chartered Financial Analyst and is a member of the New York Society of Securities Analysts and the Association of Investment Management and Research. In connection with his role at Solus, he currently serves as a board member for TerreStar Corp., Nextwave Holdco LLC, Panavision Corp and FiberTower.
Michael Leitner is a Managing Partner of Tennenbaum Capital Partners, LLC and a member of its Management Committee. Prior to joining TCP in 2005, Mr. Leitner served as Senior Vice President of Corporate Development for WilTel Communications, and before that as President and Chief Executive Officer of GlobeNet Communications, leading the company through a successful turnaround and sale. Previously, he was Vice President of Corporate Development of 360networks and additionally developed and managed the Company’s global colocation services business. Prior to 360 networks, he served as Senior Director of Corporate Development for Microsoft Corporation, managing corporate investments and acquisitions in the telecommunications, media, managed services, and business applications software sectors. Prior to Microsoft, he was a Vice President in the M&A group at Merrill Lynch. Mr. Leitner currently serves as a Director on the boards of Avanti, Integra Telecom and Core Media. Mr Leitner has an M.B.A. from the University of Michigan and a B.A. in Economics from the University of California at Los Angeles.
In addition, Avanti announces that Richard Vos, Michael Walker and Charmaine Eggberry have resigned as non-executive directors of the Company with immediate effect. The Company thanks, Richard, Michael and Charmaine for the important role that each of them played at Avanti.
Nigel Fox has also stepped down from the Board of Avanti with effect from 27 January 2017 but will remain at the Company in his current role as Chief Financial Officer.
The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:
|Existing Directorships||Past Directorships|
|Peter Andrew Reed (aged 37)||International Wire Group Holdings, Inc.
Nebraska Book Holdings, Inc.
Great Elm Capital Group, Inc.
|Craig Chobor (aged 44)||Panavision Corp
Nextwave Holdco LLC
|Michael Leitner (aged 49)||Tennebaum Capital Partners
Save as disclosed, there are no other disclosures required in relation to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.
This announcement contains inside information.
|Avanti Communications Group plc||David Williams, Nigel Fox
Tel: +44 20 7749 1600
|Cenkos Securities (Nomad)||Max Hartley, Nicholas Wells
Tel: +44 207 397 8900