Directorate Change

RNS Number : 4159Y

Swallowfield PLC

01 March 2012

 



Swallowfield plc

("Swallowfield" or the "Company")

Board changes

Swallowfield plc, the full service provider to global brands and leading retailers in the cosmetics, toiletries and household goods sector announces the appointment of Roger McDowell as Non Executive Director to the Company with immediate effect.

Stephen Boyd, Chairman, commented:

"As you will have read in our half year report, we are making progress in our performance in difficult trading conditions.  Following our board changes, including my appointment as chairman, a major review of our business strategy is underway.  Alongside this, there has been considerable discussion with major shareholders about our board structure.  Whilst applauding our wish to reduce costs, including those of the board, major shareholders feel all boardroom skills should be retained at the present time.  They have expressed their wish that we reappoint Roger McDowell, which we have agreed to do. 

We will naturally be keeping our board structure under review and revise accordingly as our strategy progresses."

The following information is disclosed in relation to Schedule Two paragraph (g) of the AIM Rules:

Roger McDowell (aged 56) has been a director of the following companies during the five years preceding the date of this announcement:

Current directorships	Previous directorships
Augean plc	Idmos plc
Avingtrans plc	Intec Telecom Systems plc
Corsair Techinvest Limited	Onward Digital Limited
Disperse Limited	Redhall Group plc
Dovehoco 201 Limited	Swallowfield plc
Fineguard Limited
I S Solutions plc
One Advice Group Limited
Ultimate Finance Group plc

Mr McDowell was a director of the following companies at the time (or within the preceding 12 months) of their being placed into administration or creditors voluntary liquidation:

·      Town Index Limited was placed into creditors voluntary liquidation on 23 January 2001 with an estimated deficiency as  regards creditors of £2.0 million

·      Wax Digital Limited was placed into creditors voluntary liquidation on 14 June 2001 with an estimated deficiency as regards creditors of £1.4 million

·      Advanced Fluid Connections plc was placed into administrative receivership on 24 March 2006 with an estimated deficiency as regards creditors of £17.8 million

·      Idmos plc was placed into administration on 16 April 2008. The estimated deficiency as regards creditors was £0.4 million

Mr McDowell has a beneficial interest in 41,000 ordinary shares representing 0.4% of the Company's issued share capital

No further information is required to be disclosed pursuant to Schedule Two paragraph (g).

Enquiries:

Swallowfield plc	01823 662241
Ian Mackinnon - Chief Executive Officer Mark Warren - Group Finance Director
Singer Capital Markets Limited	0203 205 7500
Shaun Dobson/Jenny Wyllie

 

END

 

 

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