Board Changes

RNS Number : 9500C

Lupus Capital PLC

24 November 2009

 



Lupus Capital plc

("Lupus" or the "Company")

Board Changes: Jamie Pike appointed Chairman

Lupus Capital plc, the security and residential products and marine breakaway couplings group, announces the appointment of Jamie Pike as Non-Executive Chairman with immediate effect.  

Michael Jackson, who became Non-Executive Chairman on 1 July 2009, will revert to being a Non-Executive Director of the Company, also with immediate effect.

Michael Jackson commented:

"Jamie has an outstanding track record and extensive public company experience across a range of UK and international businesses.  We are pleased that we have been able to secure someone of such a high calibre and who will bring to Lupus a reputation for incisive strategic and operational capability."

Jamie Pike commented:

"I am delighted to be joining the Board.  Whilst Lupus has faced a number of distractions over the last few months, I believe everyone across the business has remained focused on strengthening the Company's financial and operational positions. I look forward to leading the Company into the next phase of its development."

24 November 2009

Enquiries: 

Collins Stewart Europe Limited                 Tel: [phone]

Mark Dickenson / Tom Hulme

College Hill                                                Tel: [phone]

Mark Garraway / Gareth David

  NOTES TO EDITORS

Jamie Pike

Jamie Pike was Chief Executive of Foseco plc, an international business serving the foundry and steel making industries, until its acquisition by Cookson Group plc in April 2008. He led the buy-out of Foseco from Burmah Castrol in 2001, which culminated in flotation on the main market in 2005. 

Mr Pike, who is also Chairman of RPC Group PLC, MBA Polymers Inc. and the Defence Support Group, was educated at Oxford, holds an MBA from INSEAD and is a Member of the Institute of Mechanical Engineers.

His early career was as a consultant with Bain and Co and A T Kearney before joining Burmah Castrol in 1991. He rose to Chief Executive of Burmah Castrol Chemicals before leading the Foseco buy-out. He has previously been a Non-Executive Director of two FTSE 250 companies, RMC Group plc and Kelda Group plc. In addition, between 2001 and 2007 he was a non-executive member of the governing Board of the Army Training and Recruitment Agency which is responsible for all individual soldier training in the Army.  

Remuneration

Mr Pike's remuneration will be £90,000 per annum. Whilst he is contracted to serve at least four days per month, Mr Pike's time commitment will vary depending on the needs of the business. In particular, it is expected that he will spend significantly more time on Lupus business in the immediate period following his appointment.

Share Purchase

Mr Pike has confirmed that he intends to acquire shares in the Company on the basis of being a long-term shareholder in the business. 

Further information required by Rule 17 and Schedule 2(g) of the AIM Rules for Companies

James ("Jamie") Robert Provan Pike (age 54)

Present directorships and/or partnerships:

RPC Group Plc: Non-Executive Chairman since July 2008

MBA Polymers Inc: Non-Executive Chairman since August 2008

The Defence Support Group: Non-Executive Chairman since September 2006

Former directorships and/or partnerships (within the last five years):

Foseco plc: Chief Executive Officer April 2005 to April 2008

RMC Group plc: Non-Executive Director June 2002 to February 2006

As at the date of his appointment as a director of the Company, Mr. Pike did not own any ordinary shares in Lupus.

No further disclosures are required under Schedule 2(g) of the AIM Rules for Companies.

 

END

 

 

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