Home _ News & Media _ Press Releases _ Board Changes

Board Changes

Cable & Wireless Communications Plc today announces that Simon Ball will retire as a Non-executive Director with effect from 4 November 2015.

With effect from 4 November 2015, Simon will be succeeded as Chair of the Remuneration Committee by Mark Hamlin.

Sir Richard Lapthorne, Cable & Wireless Communications Chairman commented:

"Simon Ball has been on the Cable & Wireless Board for over nine years and has been the Deputy Chairman and Senior Independent Director of Cable & Wireless Communications since 2010. He has worked tirelessly as a close colleague during this time and I sincerely thank him for his counsel and support over that time."

Concert Party

In November 2014, the UK Panel on Takeovers and Mergers ("Panel") deemed the directors of the Company from time to time (and their close relatives) to be acting in concert with Brendan Paddick, Clearwater Holdings (Barbados Limited) ("CHBL"), CVBI Holdings (Barbados) Inc. ("CHBI") (CHBL and CHBI together, "Clearwater"), Columbus Holding LLC ("CHLLC") and John Risley (as ultimate controller of Clearwater) and John Malone (as ultimate controller of CHLLC) (together the "Concert Party"). The Concert Party is deemed to be in existence until the Panel rules otherwise.

On 5 December 2014, the Company's independent shareholders approved a waiver of obligations arising under Rule 9.1 of the Takeover Code (the "Whitewash"). The effect of the Whitewash was to waive the obligation which would normally oblige a member of the Concert Party to make a general offer to all other shareholders to acquire their shares following any acquisition.

The Whitewash permits up to the following numbers of interests in shares to be held by the Concert Party without a mandatory offer obligation arising under Rule 9 of the Takeover Code.


Maximum interest in CWC shares

Percentage of issued share capital of CWC

Waiver in respect of the issue of the Consideration Shares (in addition to the existing share interests of the directors of the Company)




Waiver in respect of existing awards under the Performance Share Plan



Waiver in respect of further awards under the CWC Share Plans



Waiver in respect of CWC Shares acquired by Directors to meet shareholding requirements



Waiver in respect of CWC Shares acquired by Directors in proportion to the amount that they would otherwise have received through the dividend reinvestment plan







The Concert Party's aggregate interest in the share capital of the Company as at the date of this announcement 1,574,146,795 shares.

As a result of Simon Ball's forthcoming retirement as a Non-executive Director of the Company on 4 November 2015, he will no longer be a member of the Concert Party and the Concert Party's interest in the share capital of the Company will be correspondingly reduced by the amount of Simon Ball's shareholding (504,348 shares as at the date of this announcement) with effect from that date.

Financial News

Q3 2015/16 Trading Update11 February, 2016

This announcement provides an update on the Third Quarter performance and financial position of the Group since the six months ended 30 September 2015.

Tags: CWC

Interim Results 2015/165 November, 2015

Cable & Wireless Communications plc results for the six months ending 30 September 2015

Tags: 4G,, Bahamas, Barbados, BTC, Business, Caribbean, CWC,, Investment, Miami,, LTE, results,, Panama,, Phil

Q1 2015/16 Trading Update21 July, 2015

This announcement provides an update on the First Quarter performance and financial position of the Group since the year ended 31 March 2015. Interim results for the period ending 30 September 2015 are expected to be announced on 5…

Tags: CWC

Read more financial news...

Press Releases

Flow Football Fans Welcome Chelsea TV15 October, 2016

Channel Now Part Of Innovative Flow Sports ‘Premier Pack’


C&W Communications Expands Network With Ericsson Across Caribbean And Panama13 October, 2016

- C&W’s customers to enjoy best-in-class high speed, high performance network to address increasing data traffic demands - Expansion is currently underway and expected to be completed in November 2016 - Radio Access Network (RAN) and Core expansion includes both 3G and…


C&W Networks Expands Capabilities Via Point-Of-Presence In Jacksonville, Florida28 September, 2016

Better customer support, more advanced connectivity via the state-of-the-art node


Read more press releases...