Kromek Group PLC Directorate Change (7668R)

TIDMKMK

RNS Number : 7668R

Kromek Group PLC

26 September 2017

26 September 2017

Kromek Group plc

("Kromek" or the "Company")

Directorate Change

Kromek (AIM: KMK), a radiation detection technology company focusing on the medical, security and nuclear markets, is pleased to announce the appointment of Christopher Wilks as Non-Executive Director of the Company with effect from 1 October 2017.

Christopher Wilks, 53, has considerable experience in the fields of both science and finance. He is currently Chief Financial Officer at Signum Technology, a leading group of specialised engineering businesses operating in the safety and critical service flow control sector, which he co-founded in 2012. Prior to Signum Technology, Mr Wilks was Chief Financial Officer at Sondex plc; Sondex is a specialist manufacturer of technical instruments for the oil and gas industry. Christopher became the Chief Financial Officer of Sondex in 1997 and in June 2003, he successfully managed the listing of Sondex plc on the Main Market of the London Stock Exchange. Sondex plc made several acquisitions in the period after IPO and in 2007 GE acquired Sondex; during the five years from IPO to acquisition by GE, the share price increased by a factor of 4.6 times.

A graduate of the University of Durham with a BSc in Applied Physics and Electronics, Christopher has had a very successful career. Initially joining Marconi Space Systems and applying his degree education in the design of power systems for space craft, Christopher then trained as a Chartered Accountant at Arthur Young (now EY). After qualifying as a Chartered Accountant in audit he became a Manager in the Corporate Finance team at Ernst & Young.

Sir Peter Williams, Chairman of Kromek, said: "We are delighted to welcome Christopher to the Board as Non-Executive Director. His intimate understanding of the physics and financial worlds will add valuable insight and expertise. Christopher's impressive record of deal making and managing business growth at international manufacturing organisations will help immeasurably as we roll out our products to customers around the globe."

Commenting on his appointment as Non-Executive Director, Christopher Wilks said: "As a graduate of the University of Durham's physics department, I am thrilled to be joining Kromek at this exciting time for the Company. In particular, I am keen to use my international experience to support the management team objective of achieving full commercial value for its impressive radiation detection technology. I look forward to working with the Board to deliver further value for shareholders in the future."

Mr Wilks owns 75,000 ordinary shares in Kromek, which represents 0.03 per cent. of the current issued share capital.

Christopher Wilks is currently or has been a director of the following companies within the previous five years:

Current directorships

Signum Technology Ltd and its subsidiary companies, including:

Copper Midco 1 Limited

Cooper Midco 2 Limited

Cooper Bidco Limited

Gall Thomson International Limited

Klaw Products Limited

Vee Bee Limited

Vee Bee Filtration (UK) Limited

Filtration & Valves Limited

Past directorships

Falcon Oilfield Services LLC

Mr Wilks was a director of Clearwater Industries between 1994 and 1996. In 1996, Clearwater Industries was put into liquidation and was sold two days later. The creditor shortfall was approximately GBP100,000.

There is no further information required to be disclosed pursuant to Schedule Two, paragraph (g) of the AIM rules.

Enquiries

 
 Kromek Group plc 
--------------------------------  --------------- 
 Arnab Basu, CEO                   +44 (0)1740 
  Derek Bulmer, CFO                 626 060 
--------------------------------  --------------- 
 
 Cenkos Securities plc 
--------------------------------  --------------- 
 Bobbie Hilliam (NOMAD)            [phone] 
  Julian Morse (Sales)              8900 
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 Luther Pendragon Ltd 
--------------------------------  --------------- 
 Harry Chathli, Claire Norbury,    [phone] 
  Alexis Gore                       9100 
--------------------------------  --------------- 
 

About Kromek Group plc

Kromek Group plc is a UK technology Group (global HQ in County Durham) and a leading developer of high performance radiation detection products based on cadmium zinc telluride ("CZT") and other advanced technologies. Using its core technology platforms, Kromek designs, develops and produces x-ray and gamma ray imaging and radiation detection products for the medical, security screening and nuclear markets.

The Group's products provide high resolution information on material composition and structure and are used in multiple applications, ranging from the identification of cancerous tissues to hazardous materials, such as explosives, and the analysis of radioactive materials.

The Group's business model provides a vertically integrated technology offering to customers, from radiation detector materials to finished products or detectors, including software, electronics and application specific integrated circuits ("ASICs").

The Group has operations in the UK and US (California and Pennsylvania), and is selling internationally through a combination of distributors and direct OEM sales.

Currently, the Group has over one hundred full time employees across its global operations. Further information on Kromek Group is available at www.kromek.com and https://twitter.com/kromekgroup.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 26, 2017 02:01 ET (06:01 GMT)