Directorate Change

RNS Number : 8040N

Proton Power Systems PLC

31 July 2014

 



31 July 2014

Proton Power Systems plc

("Proton Power" or the "Company")

Directorate Change

Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, is pleased to announce the appointment of Ian Joseph Peden to the board of directors as Non-executive Chairman of the Company.

Mr Peden, aged 52, is a Fellow of the Chartered Institute of Management Accountants and currently serves as a non-executive director and partner at Team B LLP. Mr Peden has significant public company and international experience through senior divisional roles at Chloride Group plc, as finance director for the UK Sales & Service Division, and Marconi plc, as European Finance Director in the Access Division.

Mr Peden has over 30 years of industry experience, beginning his career as a qualified electronic and communications engineer before also qualifying as a production engineer. Prior to his role at Team B LLP, Mr Peden held the position of CFO at Trilogy Communications Holdings Ltd, a global communications provider.

Commenting on the appointment, Dr Faiz Nahab, CEO, said:

"I am delighted that Ian has agreed to become Chairman of Proton Power. His experience with Chloride and other UK public companies will be incredibly valuable as we continue to develop the business."

- Ends -

For further information:

Proton Power Systems plc
Dr Faiz Nahab, CEO
Achim Loecher, FD	Tel: [phone]
	www.protonpowersystems.com
Westhouse Securities Limited Nominated adviser and broker	Tel: [phone]
Antonio Bossi	www.westhousesecurities.com

About Proton Motor Fuel Cell GmbH

Proton Motor is an expert in industrial fuel cells, fuel cell and hybrid systems with more than 17 years of experience in this sector.  Based in Puchheim near Munich, Proton Motor offers complete fuel cell and hybrid systems from a single source - from the development and production through the implementation of customized solutions.  The focus of Proton Motor is on back-to-base, for example, for mobile, marine and stationary solutions applications.  The product portfolio consists of base-fuel cell systems, standard complete systems, as well as customized systems.

Proton Motor acquired SPower GmbH in 2013. Established in 2007, SPower serves IT, Telecoms, public infrastructure and healthcare customers in Germany, Europe and Middle East with power supply solutions for DC and AC power demand. In addition to power supply, SPower also offers solutions for Solar Systems as well as a new product line for Solar Energy Storage.

Proton Motor Fuel Cells GmbH is wholly owned subsidiary of Proton Power Systems plc.  The Company has been listed on the London Stock Exchange since October 2006 (code: PPS).

Additional information on Ian Peden:

The table below sets out Mr Peden's current directorships and partnerships and those held by Mr Peden in the last five years:

Current Directorships / Partnerships	Former Directorships
IJP Business and Finance Services Limited	Trilogy Communications Limited
Team B Limited	Trilogy Communications Holdings Limited
Team B Partners LLP

Mr Peden does not hold an interest in any shares in the Company.

Save as disclosed above, there are no other details to be disclosed regarding Mr Peden's appointment under AIM Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules.

 

END

 

 

BOAWGUPAMUPCGMU