Optare plc
('Optare' or the 'Company')
Optare Appoints Non-Executive Director
The Company is pleased to announce that David Coulson Stonehouse FCA has today joined the Board as a non-executive director.
Mr Stonehouse, 53, is currently Chief Executive of Technology Services Group Limited, a £35 million turnover business supplying IT services to SMEs. From 2002 to 2008, he was the Chairman, and latterly a non-executive director, at accountancy firm unw LLP. Prior to that, he was at Parkdean Holidays plc ('Parkdean'). He joined Parkdean as a consultant in 2001 and was instrumental in advising the company on its AIM flotation and £28 million fundraising in May 2002. Subsequently, he became the senior non-executive director and chair of the audit committee, and led the company's successful buyout in May 2006 by PD Parks, an investment vehicle backed by Alchemy Partners.
Mr Stonehouse trained as a chartered accountant at Arthur Young, moving to Price Waterhouse in 1985. He remained there for 10 years, becoming a partner in 1989.
Chief Executive of Optare, Andrew Brian, said: 'We are delighted to welcome David to the Board. He brings significant experience of working with growth companies across a range of industries, and will provide a fresh perspective on our business. In his previous roles, David has been instrumental in integrating acquisitions and improving efficiency, a key focus for us over the next year. When combined with his experience as a plc director and previous history as a chartered accountant, his appointment will significantly strengthen our Board and we look forward to working with him.'
Save as disclosed below, there are no additional disclosures to be made in accordance with paragraph (g) of Schedule 2 of the AIM rules for David Stonehouse.
During the last five years, David Stonehouse has been a director of the following companies:
unw LLP
Datatrial Ltd*
eMedIT ltd
NEL Fund Managers Ltd (NEL)*
Northstar Equity Investors Ltd (NSEI)*
Horizon Venture Group Ltd*
Parkdean Holidays plc
St Oswald's Hospice
Technology Services Group Ltd*
Original FM Ltd
* Current Directorships
ENDS
Contacts:
Andrew Brian, CEO, Optare plc +44 (0) 845 838 9901
Mike Dunn, CFO, Optare plc
Lauren Jones/Samantha Lafferty +44 (0) 161 236 1352
MC2 (Financial PR)
Stephen Keys/Camilla Hume +44 (0) 20 7397 8900
Cenkos Securities plc
About Optare plc
Optare plc is a leading name in the UK bus and coach industry. The company specialises in the design, manufacture and supply of single and double deck buses, coaches and smaller vehicles, and also offers a comprehensive after sales service.
Optare plc was formed following the acquisition of Jamesstan Investments Ltd by Darwen Holdings plc on 14 July 2008. The company benefits from a comprehensive product offering, world-class skills including an in-house design capability, wide-ranging after sales ability with national reach and outstanding operational performance.
Optare's board comprises:
John Fickling, Non-Executive Chairman
Andrew Brian, Chief Executive Officer
Mike Dunn, Chief Financial Officer
David Maughan, Non-Executive Director
David Stonehouse, Non-Executive Director
Roy Stanley, Non-Executive Director
www.optare.com