Directorate Change

RNS Number : 4756C

Avingtrans PLC

23 February 2022

 

23 February 2022

Avingtrans Plc

("Avingtrans", the "Company", or the "Group")

Non-Executive Director Appointment

Avingtrans PLC (AIM: AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, is pleased to announce the appointment of Jo Reedman, as an independent Non-Executive Director ("NED"), effective on 1^st March 2022.

Jo has over 20 years' experience as an equity research analyst, focusing on capital goods/industrials companies in both sell-side and buy-side roles. She was a Senior Research Analyst at Singer Capital Markets (previously N+1 Singer) from 2009 to 2019. Prior to this, she held roles at Merrill Lynch, British Steel Pension Fund and NatWest Markets. Jo has a BA Hons in Mathematics from St Hilda's College, Oxford.

Upon appointment, Jo will join the Audit, Remuneration and Nomination committees. Following her appointment, the board will comprise a Non-Executive Chairman, two Executive Directors and three Non-Executive Directors, all of whom are independent.

Roger McDowell, Chairman of Avingtrans, commented :

'I am delighted to welcome Jo Reedman to the Avingtrans Board. Jo brings a wealth of experience and understanding of industrial and engineering businesses, from her background as research analyst. I'm confident that she will bring new ideas and thinking to the Board debate, coupled with strong financial insight.'

Joanne Samantha Reedman (aged 52) does not currently hold any directorships or partnerships and has not previously held any directorships or partnerships in the past five years.

Save as disclosed above, there is no further information to be disclosed in respect of the above appointment, pursuant to Rule 17 and Schedule 2 paragraph (g) of the AIM Rules for companies.

Enquiries:

Avingtrans plc	01354 692391
Roger McDowell, Chairman Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer
Singer Capital Markets (Nominated Adviser and Broker)	02074 963000
Shaun Dobson Alex Bond Oliver Platts Rachel Hayes
IFC Advisory (Financial PR)	020 3934 6630
Graham Herring Tim Metcalfe Zach Cohen

About Avingtrans plc: 

Avingtrans designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy, medical and industrial markets worldwide. 

Business units

Hayward Tyler - Luton & East Kilbride, UK and USA, China and India Specialises in the design, manufacture and servicing of performance-critical motors and pumps for challenging environments. Energy Steel, Inc - Rochester Hills, Michigan, USA Provider of custom fabrications for the nuclear industry, specialising in: OEM parts obsolescence; custom fabrications; engineering design solutions; product refurbishment; on-site technical support. Stainless Metalcraft Ltd - Chatteris, UK and Chengdu, China Provider of safety-critical equipment for the energy, medical, science and research communities, worldwide, specialising in precision pressure and vacuum vessels and associated fabrications, sub-assemblies and systems. Booth Industries - Bolton, UK Designs, manufactures, installs and services doors and walls which can be tailored to be: blast &explosion proof; fireproof; acoustically shielded; high security/safety; or combinations of the above Ormandy Group, Bradford, UK Design, manufacturers and servicing of off-site plant, heat exchangers and other HVAC (heating, ventilation and air conditioning) products Composite Products Ltd - Buckingham, UK Centre for composite technology, parts and assemblies, serving customers in industrial markets. Magnetica Ltd - Brisbane, Australia Magnetica Limited specialises in the development of next generation MRI technologies, including dedicated extremity MRI systems and MRI system components. Magnetica has successfully built and tested a compact, integrated 3 Tesla orthopaedic MRI system, demonstrating clinical-quality imaging. Commercialisation of this system (and others) is on-going. Magnetica's structure now includes two other business units: Scientific Magnetics - Abingdon, UK Designs and manufactures superconducting magnet systems and associated cryogenics for a variety of markets including MRI and provides services for Nuclear Magnetic Resonance instruments. Tecmag Inc, Houston, USA Designs, manufactures and installs instrumentation, including consoles, system upgrades, and probes, mainly for Magnetic Resonance Imaging (MRI) and Nuclear Magnetic Resonance (NMR) systems.

 

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