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Crucial Plan

  • BY: Andrew Hore |
  • POSTED: 30/05/2008 |

It is hard to keep up with the comings and goings at Crucial Plan.

Fund manager Ytzchak Sopher joined the board on 13 May and resigned on 30 May. His fellow fund manager Rafael Scolari joined the board on the same day as Sopher and he remains on the board.

Former HSBC boss Lord Sandberg resigned when the other two men were appointed directors of the company, having been appointed on 25 February.

Prior to that Peter Maddocks was appointed a non-executive director on 30 July 2007 and resigned on 22 February. He had previously been a director between 14 March 2006 and 18 July 2007.

Mike Neville remains chief executive having joined the board on 14 March 2006. Non-executive chairman John Liwosz and Scolari make up the rest of the board.

Crucial Plan is an investment company which is focused on the hospitality and entertainment sectors. Its only asset is the Borrowdale Gates Hotel in the Lake District. Crucial Plan joined Aim on 17 September 2004, when it raised £300,000 gross at 24p a share. That cash covered the costs of gaining the quotation. 

Revenues in the six months to October 2007 were £485,000 and the loss was £593,000. Net debt was £1.24m.

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