Intec Telecom Systems PLC
16 August 2007
16 August 2007
Intec Telecom Systems PLC (or "the Company")
Appointment of new Non-Executive Director
Intec Telecom Systems PLC (LSE: ITL), a leading supplier of software solutions
to the global telecoms industry, is pleased to announce the appointment of John
Allkins to its Board as a Non-Executive Director with immediate effect.
John Allkins (58) was previously Group Finance Director of MyTravel Group plc
("MyTravel"). John joined the Board of MyTravel in 2003 when the market
capitalisation of the Company had fallen to £25 million following two years of
difficult trading. John and the management team oversaw a series of asset sales
to provide necessary liquidity and negotiated a complex £800 million debt for
equity restructuring when the accounting position was stabilised. The Company
returned to profitability in 2006 and in February 2007 negotiated a reverse take
over with Thomas Cook. When announced, the industry transforming transaction
resulted in a 35% share price increase, giving MyTravel a market capitalisation
of £1.4 billion.
From 1995 to 2003, John was Chief Financial Officer at telecoms company Equant
NV helping to manage the world's largest data network with employees in over 100
countries. From 1986 to 1995 John held senior financial and management positions
at BT.
John Hughes, Non-Executive Chairman of Intec, said:
"I am delighted to welcome an executive of John's calibre to the Board of Intec.
John was responsible for significant shareholder value creation at MyTravel and
brings with him a wealth of commercial and financial experience. He also has
extensive knowledge of our market, having spent nearly twenty years within the
telecoms industry. John's appointment as an independent adviser enhances the
integrity of the Intec Board and we look forward to his valuable contribution."
No further details regarding John Allkins are required to be disclosed under
paragraph 9.6.13 (1-6) of the Listing Rules of the UK Listing Authority. John
Allkins does not hold any beneficial or non-beneficial interests in the ordinary
shares of Intec.
For further information, please contact:
Intec Telecom Systems PLC
John Hughes, Chairman and interim Chief Executive Officer +44 (0)1483 745 800
College Hill
Sara Musgrave/Carl Franklin/Ben Way +44 (0)20 7457 2020
NOTES TO EDITORS
About Intec Telecom Systems PLC
Intec supplies billing software solutions to over 60 of the world's top 100
telecoms carriers and is one of the world's leading BSS/OSS (business and
operations support systems) vendors. Intec's customers include AT&T, BellSouth,
Cable & Wireless, The Carphone Warehouse (UK), China Unicom, Deutsche Telekom,
Eircom (Ireland), France Telecom, Hutchison 3G, O2, Orange, T-Mobile,
Telefonica, Vodafone, Virgin Mobile, Vivo and Verizon.
Intec has a comprehensive and expanding range of solutions and services ranging
from market leading mediation and convergent billing products through to
innovative IMS Charging solutions. Intec works closely with its customers, many
of whom have been with Intec since its inception, to provide the highest
standards of performance, flexibility and robustness to help carriers service
their customers effectively and profitably.
Founded in 1997, Intec is listed on the London Stock Exchange (ITL.L) and has
over 1,600 staff and 31 offices in 25 countries. For more information visit
www.intecbilling.com
MyTravel Restructuring
Details of the restructuring of MyTravel were set out in the listing particulars
published by MyTravel Group PLC on 30 December 2004.
This information is provided by RNS
The company news service from the London Stock Exchange
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