Appointment of Chief Financial Officer

RNS Number : 8691Q

Accrol Group Holdings PLC

11 June 2018

 

11 June 2018

ACCROL GROUP HOLDINGS PLC
(AIM: ACRL)

Appointment of Chief Financial Officer

Accrol Group Holdings plc ("Accrol" or the "Company"), the leading independent tissue converter in the UK, is pleased to announce that Steven ("Steve") James Townsley, aged 50, has been appointed as Chief Financial Officer with effect from today, 11 June 2018.

Steve joins Accrol after concluding his role as Finance Director of Help-Link, the UK's leading independent boiler installer, where he played an integral role in the successful turnaround and sale of the business.  Prior to this, he gained 18 years' experience in finance roles at a number of retail and distribution businesses, including Safeway, Exertis and Dixons, where he helped drive significant profitable growth, both organically and by acquisition, whilst maintaining a strong balance sheet.

Steve replaces Martin Leitch, who joined the Company as Interim Chief Financial Officer on 5 February 2018 to support the turnaround of the business, whilst the Board secured a permanent new Chief Financial Officer. Martin will remain with the business in the short term to effect an orderly handover.

Dan Wright, Chairman of Accrol, said: "I have seen Steve's expertise and tenacity in action and his experience will be a strong asset, as we continue the turnaround of the business.  His appointment strengthens Accrol's new management team further and will help ensure that the business is best placed to continue to grow and develop its leading position with retail customers."

Gareth Jenkins, CEO of Accrol, added: "We are very pleased that someone of Steve's calibre has chosen to join us. The business will benefit considerably from his broad and relevant experience across a range of connected sectors and I welcome him to the team."

"The Board thanks Martin for the valuable work he has completed in recent months, especially in the business turnaround plan which remains fully on schedule, and wishes him well in the future."

Information on Steve required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies:

Steve, who is not currently a director of any other company, has held the following directorships in the past five years:

·      Help-Link UK Ltd

·      Advent Data Ltd

·      AGP Distribution Limited

·      Ashmede Limited

·      Cohort Technology Limited (dissolved via members voluntary liquidation on 10 September 2016)

·      Exertis Advent Ltd

·      Exertis Micro P Limited

·      Exertis (UK) Limited

·      Help-Link Contracts Limited (entered members voluntary liquidation on 19 September 2017)

·      Help-Link Energy Services Limited (entered members voluntary liquidation on 19 September 2017)

·      Help-Link Installations Limited (entered members voluntary liquidation on 19 September 2017)

·      Help-Link Maintenance Limited (entered members voluntary liquidation on 19 September 2017)

·      Leco Supplies Limited

·      Micro P Ltd

·      Micro P Mobile Limited

·      Micro Peripherals Ltd

·      Micro-P Stoke Limited

Steve was a director of the following companies, when they entered administration:

·      Highflex Holdings (UK) Limited (the company entered administration on 2 August 2017)

·      Highflex Limited (the company entered administration on 2 August 2017)

Steve has no interests in the share capital of Accrol Group Holdings plc.

There is no further information on Steve required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

Enquiries:

Zeus Capital Limited (Nominated Adviser & Broker)
Dan Bate / Andrew Jones	Tel: [phone]
Dominic King / John Goold	Tel: [phone]
Belvedere Communications Limited	Tel: [phone]
Catriona Valentine ([e-mail])	Mob: [phone]
Llewellyn Angus ([e-mail])	Mob: [phone]

Notes to Editors

Accrol Group Holdings plc, based in Lancashire, is a leading tissue converter and supplier of toilet rolls, kitchen rolls and facial tissues, as well as other tissue products, to major discounters and grocery retailers throughout the UK. 

Accrol operates from three sites:

·      A manufacturing, storage and distribution facility in Blackburn;

·      A facial tissue plant, also in Blackburn; and

·      A manufacturing, storage and distribution facility in Leyland.

 

END

 

 

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