Sprue Aegis plc Directorate Change and Board Update (9298P)

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RNS Number : 9298P

Sprue Aegis plc

01 June 2018

Sprue Aegis plc

("Sprue" or the "Company" or the "Group")

Directorate change

and

Board update

Directorate change

Sprue (AIM: SPRP), one of Europe's leading developers and suppliers of home safety products, is pleased to announce the appointment of Mike Stilwell as Group Finance Director with effect from 3 December 2018, having served 6 months' notice at his current employer. In the meantime, the Company's finance function will be run by Zoe Fox, Finance Director of Sprue Safety Products Limited, the Company's principal subsidiary, a role which Zoe has held at the Company since 2010.

Mike is currently the finance director of Synectics plc, which he joined in 2012 as group financial controller before being appointed as finance director in October 2015. Previously, Mike held finance roles with the Saint-Gobain Group, Coventry Building Society and Caparo Group. Mike qualified as a chartered accountant with KPMG in 2001.

Neil Smith, Group Chief Executive of Sprue, commented: "We are delighted to have recruited Mike and look forward to him joining us and his contribution to the Group."

Board update

Graham Whitworth, the Company's Executive Chairman, has indicated his intention to step down from his role as Executive Chairman once a replacement non-executive Chairman has been appointed. As a result, the Board has created a Nominations Committee, comprising the non-executive Directors of the Company, to commence the search for, and appoint, a new non-executive Chairman. Following the appointment of the new Chairman, the intention is that Graham Whitworth will remain as a non-executive Director of the Company. A further announcement will be made in due course.

Graham Whitworth, Executive Chairman of the Company, commented: "It's been a privilege to have served as Chairman of the Company since 2001, during which period the Company has grown substantially and undergone significant changes to become a market leader in its field. I feel that it is appropriate for the Company to enter the next phase of its development with a new Chairman in place. I am keen to remain involved in the business and stay on the Board as a non-executive director."

For further information, please contact:

 
Sprue Aegis plc                        02477 717700 
Graham Whitworth, Executive Chairman 
 Neil Smith, Group Chief Executive 
 
Stockdale Securities                   020 7601 6100 
Tom Griffiths 
Vigo Communications 
 Jeremy Garcia / Fiona Henson          020 7830 9701 
 

Regulatory disclosures (in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies)

Michael ("Mike") James Stilwell, aged 42, is, or has been during the last five years, a director or partner of the following companies/partnerships:

Current directorships/partnerships:

Coex Limited

Falcon Equipment and Systems Limited

Fotovalue Limited

IES Integrated Electronic Systems Limited

Integrated Environmental Systems Limited

Look CCTV Limited

Look Closed Circuit T.V. Limited

Protec 2001 Limited

Protec PLC

Quadnetics Group Limited

Quadrant Research & Development Limited

Quadrant Video Systems PLC

SDA Protec Limited

SDA Network Solutions Limited

SDA Protec (2001) Limited

Sectronic (Marketing) Limited

Security Design Associates (1979) Limited

Software Developments (Digital Direct) Limited

SSS Managed Services Limited

SSS Management Services Limited

Stanmore Systems Limited

Synectic Systems Limited

Synectics Managed Services Limited

Synectics No.2 Limited

Synectics Technology Centre Limited

Sanpho Pensions Trustees Limited

A1 Presentations Limited

Synectic Systems Group Limited

Quadrant Security Group Limited

Synectics plc

Synectic Systems Inc

Indanet GmbH

Quadnetics Employees' Trustees Limited

Quadnetics SIP Trustees Limited

Synectic Systems GmbH

Synectic Systems (Asia) PTE Limited

Synectic Systems (Macau) Limited

Previous directorships/partnerships:

None

There are no other disclosures to be made in accordance with Schedule Two paragraph (g) of the AIM Rules.

Notes to Editors

About Sprue Aegis plc

Sprue's mission is to protect, save and improve our customers' lives by making innovative, leading edge technology simple and accessible. Sprue is one of the market leaders in the European home safety products market and launched its own connected homes product proposition at the end of 2016.

Sprue's principal products are smoke alarms, CO alarms and accessories. The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories. Products are sold under Sprue's leading brands of FireAngel, FireAngel Pro, SONA, AngelEye and FireAngel Connect. For further product information, please visit:www.sprue.com

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June 01, 2018 02:00 ET (06:00 GMT)