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Claimar FD departs

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Date: Friday 09 May 2008

LONDON (ShareCast) - Shares in care services firm Claimar slumped after the group said finance director David Jackson resigned from his post by mutual consent yesterday, ahead of the release of its interim results next month.

"The company has initiated a process to identify his successor and expects to announce the appointment by the time of the release of its 2007/08 Half-Year results in June," said the group.

In the meantime, the group said it has established interim financial management arrangements to manage its financial reporting and controls.

The group also released a trading statement later in the day, saying interim results will represent a substantial improvement to the same period last year though performance for the year will be broadly in line with market expectations.

“Unfortunately, as anticipated in the 2007 annual report, we have been unable to recover fully the increased cost arising as a result of the working time directive,” said the group.

In the year it has won two new contracts but was unsuccessful in extending three other contracts.

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