28 November 2005

TROA APPOINTS ACTING CEO

The Chairman of the Board of TROA, Peter Sidwell today announced the appointment of Colette Smedile as Acting Chief Executive Officer of Thoroughbred Racehorse Owners Association.

Colette’s appointment followed a Board Meeting held today at which the CEO, Peter Jurkovsky, was suspended from his duties as CEO, Secretary and Treasurer by a unanimous resolution of the Board.

Peter Sidwell said “The circumstances surrounding Peter’s suspension are unfortunate and unnecessary. The current fracas within the TROA Board is nothing more than disenchantment from a minority of the Board at an unopposed resolution to change the office bearers.

“This annual procedure took place within the rules and the new Chairman (Peter Sidwell) and Vice-Chairman (David Moodie) were elected unopposed at a meeting on the 16th November, 2005.

“No Board member has been asked to resign or step down nor did anyone but the two office bearers elected, offer themselves for office.”

TROA recognises the excellent work that Peter has provided to the Board, both as a Board member and CEO. We intend to work with Peter outside of the TROA structure to resolve the matters that have impacted on his position as CEO.