Intellego Names Robert Allwood Finance Director, CVA Pact Agreed

9th Jul 2010 06:45

LONDON (Dow Jones)--Intellego Holdings PLC (IHP.LN), a learning solutions provider, said Friday Robert Allwood Lindsay Murphy, aged 52, has been appointed Finance Director with immediate effect and that the Company Voluntary Arrangements, or CVAs, for both Holdings and its main trading subsidiary Intellego Group Ltd. have been approved by members and creditors. MAIN FACTS: -The benefits to the group of companies will be firstly, a reduction of liabilities and consequently improvement in the balance sheet; and, secondly phasing of payment of the liabilities over five years. -Bruce Leith has become executive sales and marketing director with immediate effect; Leith has extensive experience of sales and marketing initially at IBM, then a number of software or software related businesses including London Bridge International. -John Hammond has left the Company to resume his career in the software industry. -Shares closed Thursday at 0.21 pence valuing the company at GBP0.55 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] (END) Dow Jones Newswires July 09, 2010 01:45 ET (05:45 GMT)