Elektron Technology PLC Board Changes (8037K)

TIDMEKT

RNS Number : 8037K

Elektron Technology PLC

18 December 2018

Elektron Technology plc

("Elektron", the "Group" or the "Company")

Board Changes

The Board of Elektron Technology plc (AIM: EKT), the global technology group, announces today that Peter Welch, Non-Executive Director is stepping down from the Board on 31 January 2019 after service of more than 3 years.

The Board is also pleased to announce that Mr Richard ('Ric') John Piper has agreed to re-join the Board as a Non-Executive Director, with immediate effect. Ric is also appointed Senior Independent Director and a member of the Audit and Remuneration Committees.

Mr Piper, aged 66, qualified as a Chartered Accountant in 1977. He was appointed Finance Director of Logica (UK) in 1990 and was Group Finance Director of WS Atkins from 1993 to 2002. Since 2003 he has been Chairman or Non-Executive Director of several AIM and privately owned businesses and was Elektron's Senior Independent Director from 2012 to 2015.

Currently Ric is a Non-Executive Director with GRC International Group plc, an AIM listed supplier of IT governance, risk management and compliance products and services. He has been a partner with Restoration Partners Limited, which advises technology businesses, since 2006 and a member of the Financial Reporting Review Panel since 2009.

Commenting on the Board changes, Keith Daley, Chairman said: "Peter has provided wise counsel during a period of considerable change. On behalf of the Board I would like to thank him for his valuable contribution and wish him the best for his future career. We are delighted to welcome Ric back to the Elektron Board. His experience further strengthens the Board and will be of considerable value to the Company as it continues to transform its businesses."

In accordance with Schedule 2(g) of the AIM Rules, the following further information in relation to the appointment of Mr Piper is disclosed as follows.

Current directorships and partnerships:

GRC International Group plc

Turbo Power Systems Inc

Restoration Partners Limited

Previous directorships and partnerships held in the past five years:

Elektron Technology plc

Frontier Resources International plc (formerly Concepta plc)

Gattaca plc

Lakehouse plc (formerly Sureserve Group plc)

Precision Midstream Limited

Turbo Power Systems, Inc

Turbo Power Systems Limited

Waterman Group plc

Waterman Trustees Limited

Mr Piper is the beneficial owner of 380,333 Elektron ordinary shares.

Mr Piper was Chairman and a Director of SubSea Resources plc from 21 December 2006 until 11 April 2008 when the company was placed into administration and subsequent creditors' voluntary liquidation on 2 April 2009. The deficiency as regards creditors was GBP155,558.

There are no other matters which are required to be announced as required under Schedule 2(g) of the AIM Rules.

 
                                                           +44 (0) 1223 
     Elektron Technology plc                                371 000 
     www.elektron-technology.com 
     John Wilson (Chief Executive Officer) 
     Andrew Weatherstone (Chief Financial Officer 
      & Company Secretary) 
 
 
 
 
       N+1 Singer (Nominated Adviser & Broker) 
     Shaun Dobson / Jen Boorer (Corporate Finance)          [phone] 
      Rachel Hayes (Corporate Broking)                       3000 
 
 

Notes to Editors:

Elektron conceives, designs and markets innovative products and services for business that connect, monitor and control. We have a multi skilled team of engineers, software and product line specialists based in Cambridge focused on the opportunities created by global growth in the following areas:

- Demand for ubiquitous power and data: Bulgin

- Real-time operations management using Internet of Things (IoT) technology: Checkit

- Screening for the effects of ageing on sight: Elektron Eye Technology

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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December 18, 2018 04:05 ET (09:05 GMT)