Imagine UnLimited closes Perth office

Sydney-based essential services advisors Imagine Un Ltd will close its Perth, Sydney and Brisbane offices in a planned major company restructure which has seen its share price rise 54 per cent at close of trade today.

The full text of a company announcement is pasted below

Imagine Un Limited (IUL) is pleased to announce a restructure of the board. This begins with the appointment of Founder, Richard Evans from the position of Chief Executive Officer to Executive Chairman. Mr. Evans' appointment will direct his focus on the development of both national and global growth initiatives. He will also concentrate on strategic alliances and mergers and acquisitions. Mr. Evans will continue to have custodial ownership of the company's ongoing vision. His close involvement is vitally important in the continued growth phase of the company.

IUL is also pleased to announce the appointment of Michele Morrison to the position of Chief Executive Officer (CEO). The decision to appoint Ms Morrison to the role of CEO was made after a careful and in-depth evaluation of the strengths and weaknesses of the current management team, combined with her strong leadership and
decision-making abilities.

Tom Leahy will step down as the Managing Director effective immediately. The board wishes to thank Mr Leahy for his efforts whilst with Imagine Un Limited.

Mark Gomes, Imagine's co-founder (with Richard Evans), has announced he is resigning from the board to pursue other opportunities. The board also wishes to thank Mr. Gomes for his years of commitment and loyal service to the company.

The board has decided to move the head office from Sydney to the company's existing Melbourne office located at 431 North Road, Ormond, Victoria. This move will facilitate a more cohesive and cooperative management team and will also house the Imagine Essential Services' management team.

In addition, it has also been decided that IUL's offices in Perth, Sydney, and Brisbane will be closed before 30 June 2007. Key management staff retained as a result of the restructure will relocate to Melbourne. We wish to publicly thank all departing staff for their loyalty, support and dedication to the company.

The centralisation of management and operations will not only enable the management team to be more efficient and effective, but will also reduce overhead costs substantially resulting in a much stronger financial position.