Tim Ricketts joins Coolabi plc as Finance Director

Coolabi plc ('Coolabi' or the 'Company') (AIM: COO), the AIM quoted media company whose focus is on the creation, development and exploitation of high quality children's and family intellectual property rights, is pleased to announce the appointment of Tim Ricketts as Finance Director with immediate effect.

Mr Ricketts joins the Company, initially on a part time basis, to support newly installed Chief Executive, Jeremy Banks, as the Company pursues its acquisition strategy. He replaces Tim Hilton, who has been Finance Director since November 2004.

Said Banks, 'In the five months since I joined, we have devoted a great deal of time to developing the acquisition strategy of the group. Following the acquisition of the children's business of Zenith Entertainment Ltd. in September 2006, we have begun to progress a number of other potential opportunities. Tim Hilton has been enormously helpful in this regard but is unable to increase the amount of time he works for Coolabi from the current one day per week basis, due to other commitments.

Mr Ricketts has a great deal of relevant experience in the media sector, gained both in the UK and overseas. During nine years with United News & Media plc, he held various senior posts including Finance Director of Anglia Television Limited, Meridian Broadcasting Limited and United Newspapers Limited. Latterly, he was Group Finance Director of Gullane Entertainment plc through until its acquisition by HIT Entertainment plc in 2002.

Commenting on the appointment, Coolabi plc Group Chairman William Harris said 'I am delighted that Tim Ricketts has agreed to join us at such an exciting time for the Company. Tim is clearly an extremely experienced individual who we expect will make a significant contribution as we look to grow the business. Tim Hilton leaves us with thanks from everyone in the Company for the significant contribution he has made to the business over the last few years and with our very best wishes for the future.'

Information required by Schedule 2(g) of the AIM rules

The current and previous directorships (over the past five years) of Timothy Walker Ricketts, aged 42, are as follows:

Current directorships
Avonglen Limited

Past directorships
Gullane Entertainment plc
The Britt Allcroft Company Limited
Captain Pugwash Limited
Guinness World Records Limited
Gullane Children's Books Limited
Gullane (Development) Limited
Gullane (Distribution) Limited
Gullane (Licensing) Limited
Gullane (Music Publishing) Limited
Gullane (Productions) Limited
Gullane (Thomas) Limited
The Magic Railroad Company Limited
The Media Merchants Television
Company Limited
Moonbeam Limited
Prism Art & Design Limited
Television Support Services Limited
Turftrax Ground Management Systems Limited
Turftrax Group Limited
Turftrax Racing Data Limited
Turftrax Sporting Data Limited
Turftrax Holdings Limited
Turftrax Speed Limited
Thoroughbred Professional Limited

No further information falls to be disclosed under Schedule 2(g) (iii) - (viii) of the AIM rules.

For further information contact:
Jeremy Banks / William Harris Coolabi plc 020 7258 7080
Fiona Kindness / Gerry Beaney Grant Thornton UK LLP (Nominated Adviser) 020 7383 5100
Jerry Keen Corporate Synergy plc (Broker) 020 7448 4400

This information is provided by RNS
The company news service from the London Stock Exchange

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