Following the completion of the Proposals and the subsequent reduction of the Company's net assets, Clerkenwell Ventures announces that Stefan Borson, Corporate Development Director, has resigned from the Board with immediate effect and will leave the Company in April 2009.
The Board would like to thank Stefan for his diligent work and valuable contribution in seeking and evaluating potential investments for the Company since joining in August 2007. David Page, Chairman commented "Stefan's detailed evaluation of potential investments and his stance on valuation in the face of a tough trading environment and uncertain outlook proved to be eminently sensible. The Board wishes him success in his future projects."
There is no intention to replace Stefan at this stage and the Company's Non-executive Directors and its advisers will continue to evaluate potential investments for the Company.
All capitalised terms in this announcement have the meanings set out in the Company's Circular dated 9 January 2009.