Q&A Updates from Q3
9 October 2017
We have received several questions in the last week or so.
Q: Paragon Entertainment appears to have no finance director since the departure of Scott Dickinson. Could you give us an update on who is currently head of finance?
A: Paragon’s former head of finance and company secretary resigned recently. The change resulted in a modest but manageable disruption. Mr Dickinson was promptly replaced by an interim head of finance, David McCabe, who has a significant amount of experience as a CFO and who will also assume responsibility for the company secretarial function. The backlog in the finance function has been addressed and the backlog in the company secretarial function is in the process of being addressed.
Given the temporary nature of Mr McCabe’s appointment, it is not currently intended that he should formally join the Board of Paragon Entertainment Limited. We intend to appoint a suitably qualified permanent group finance director in due course, with the objective of strengthening the executive leadership team, further developing our systems, and supporting strategic initiatives.
Q: Why was no RNS announcement made in respect of this change?
A: There is no AIM requirement to appoint a company secretary and the former head of finance was not a Board director of Paragon Entertainment Limited, therefore his departure does not require any RNS announcements to be made. Mr McCabe has not been appointed to the Board of Paragon Entertainment Limited, so no RNS announcement needs to be made.
Q: When will we hear more about the prospects of Paragon?
A: We are continually evaluating whether any RNS announcements need to be made in respect of our performance. None are required at present. We anticipate giving a further update by the end of November in keeping with the timing of last year’s update.
Q: Why has the share price dropped?
A: We do not comment on the price of Paragon’s shares.
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