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Johnson Steps Down At InterQuest

Johnson Steps Down At InterQuest

InterQuest Group plc has announced that following nine years as an investor and Non Executive Director, Mr Luke Johnson, resigned from the Board of the Company yesterday. Mr Johnson is stepping down to focus on other business interests.

The Company also announces that following his resignation finnCap, the Company's broker, placed Mr Johnson's entire holding in the Company, being 3,027,033 ordinary shares representing 9.7% of the Company's issued share capital, at an average price of 53p per share. The shares were placed with certain new and existing investors including James (Jim) Mellon who purchased 1,818,181 new ordinary shares representing 5.8% of the Company's issued share capital.

Gary Ashworth, Executive Chairman, commented: "The Board would like to thank Luke for his significant contribution to the Company over the past nine years. His considerable business acumen and investment expertise have helped to develop InterQuest and build it towards the strong market position it enjoys today. Luke leaves on good terms to pursue his other varied business interests and we wish him well in these endeavours. Luke has also sold his holding in the Company in order to satisfy demand from a high quality group of existing and new investors including the successful entrepreneur and investor Jim Mellon who we are delighted to welcome as a shareholder.

"As stated at the time of our Interim Results, we have seen an overall strengthening in our market during the course of the year and the Company continues to trade in line with management's expectations. We look forward to updating investors further in the new year."

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