Directorate Change

RNS Number : 4430X

Elektron Technology PLC

13 January 2014

 

13 January 2014

Elektron Technology plc

Appointment of Interim Finance Director

Elektron Technology plc (AIM: EKT, "Elektron" or the "Group"), the global technology group, has appointed Andrew Weatherstone as Interim Finance Director, with immediate effect.  He will be joining the Board.  Noah Franklin has now stepped down from the Board as announced on 9 October 2013.

Andrew ("Andy") Paul Weatherstone (aged 49) is a Chartered Accountant with extensive experience at main board level in UK public quoted companies. His previous appointments include seven years as Group Finance Director for Chapelthorpe plc, a business focused on polypropylene fibre manufacture with main operations in the UK, Austria and the USA.  Other positions have included Group Finance Director for one of the largest coal mine operators in the UK as well as Group Finance Director at Bostrom plc. He has significant experience of recovery situations.

Andy has been working with Elektron since October 2013 to provide specialist support to the Board.

Keith Daley, Chairman, commented:

"The Board is delighted to welcome Andy to the Group.  He brings not only specific expertise in managing global manufacturing businesses but also a record of improving profitability and cash management.  We have already benefited from his experience since he joined us.

"Noah has strengthened the financial management of the Group during a period of significant change since his appointment in 2011.  I should like to thank him for his contribution and to wish him well for the future."

The following disclosures are required regarding Andy's appointment pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:

Current directorships and partnerships:

A&JW Management Services Limited

A Ogden & Sons Limited**

Aardvark TFC Limited

Aardvark TMC Limited**

ATH Garleffan Limited**

ATH Regeneration Limited**

ATH Resources plc*

Northumbrian Power Limited**

OCCW (Duncanziemere) Limited

OCCW (Muir Dean) Limited

OCCW (Netherton) Limited

Societe Des Resources Minieres Du Massif Central SA

* Placed in Administration on 5 December 2012, the estimated creditor deficit being approximately £69 million

** Subsidiary companies of ATH Resources plc in liquidation

Past directorships and partnerships held over the last 5 years in UK registered companies:

Accrington Packing & Storage Limited

Anncell Limited

Aquamura Limited

Chamberlain Coatings Limited

Chapelthorpe Engineering Limited

Chapelthorpe Limited

Chapelthorpe Hall Limited

Chapelthorpe Plc

Chapelthorpe Specialist Engineering Limited

Chapelthorpe UK Limited

Charles Busfield & Company Limited

Clifton Mills (Brighouse) limited

Darwen Coatings & Adhesives Limited

Dervale Limited

Drake Extrusion Limited

E. & G. Slack Limited

East Pennine Packers Limited

Ecclair Limited

Exshell Limited

F. Drake (Fibres) Limited

Firth Fabrics Limited

Flush Mills Limited

J.B. Battye & Co. Limited

Josand Limited

Lowwhite Limited

McCraig Limited

Plasticisers Engineering Limited

Plasticisers Limited

Readicraft Limited

Readicut Distribution Limited

Readicut H.F. Limited

SPPM Holdings Limited

Shaw Readipak Limited

Shellane Limited

Slack Brothers Limited

Slack Sales Co. Limited

Speciality Coatings Group Limited

Speciality Coatings (Darwen) Limited

Swellnib Limited

Terry Holdings (Horbury) Limited

Weesam Limited

Whitley Transport Limited

Andy has been in the previous 5 years, a director of the following overseas registered companies:

Chapelthorpe Inc

Chapelthorpe Investments Inc

Chapelthorpe Holdings Inc

Drake Extrusion Inc

Speciality Coatings (Virginia) Limited

Chapelthorpe Realty, Inc

Andy was a director of Hoyland Fox Limited until June 2007 when it was sold by Chapelthorpe Plc. Hoyland Fox Limited was placed in administration in March 2008.

No further disclosure is required under paragraph (g) to Schedule Two of the AIM Rules for Companies with respect to Andrew Weatherstone.

Enquiries:

Elektron Technology plc www.elektron-technology.com	Tel. [phone]
Keith Daley - Chairman
John Wilson - CEO
finnCap	Tel. [phone]
Ed Frisby / Ben Thompson - Corporate Finance
Simon Starr / Victoria Bates- Corporate Broking
College Hill	Tel. [phone]
Adrian Duffield / Rozi Morris

 

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