13 January 2014
Elektron Technology plc
Appointment of Interim Finance Director
Elektron Technology plc (AIM: EKT, "Elektron" or the "Group"), the global technology group, has appointed Andrew Weatherstone as Interim Finance Director, with immediate effect. He will be joining the Board. Noah Franklin has now stepped down from the Board as announced on 9 October 2013.
Andrew ("Andy") Paul Weatherstone (aged 49) is a Chartered Accountant with extensive experience at main board level in UK public quoted companies. His previous appointments include seven years as Group Finance Director for Chapelthorpe plc, a business focused on polypropylene fibre manufacture with main operations in the UK, Austria and the USA. Other positions have included Group Finance Director for one of the largest coal mine operators in the UK as well as Group Finance Director at Bostrom plc. He has significant experience of recovery situations.
Andy has been working with Elektron since October 2013 to provide specialist support to the Board.
Keith Daley, Chairman, commented:
"The Board is delighted to welcome Andy to the Group. He brings not only specific expertise in managing global manufacturing businesses but also a record of improving profitability and cash management. We have already benefited from his experience since he joined us.
"Noah has strengthened the financial management of the Group during a period of significant change since his appointment in 2011. I should like to thank him for his contribution and to wish him well for the future."
The following disclosures are required regarding Andy's appointment pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:
Current directorships and partnerships:
A&JW Management Services Limited
A Ogden & Sons Limited**
Aardvark TFC Limited
Aardvark TMC Limited**
ATH Garleffan Limited**
ATH Regeneration Limited**
ATH Resources plc*
Northumbrian Power Limited**
OCCW (Duncanziemere) Limited
OCCW (Muir Dean) Limited
OCCW (Netherton) Limited
Societe Des Resources Minieres Du Massif Central SA
* Placed in Administration on 5 December 2012, the estimated creditor deficit being approximately £69 million
** Subsidiary companies of ATH Resources plc in liquidation
Past directorships and partnerships held over the last 5 years in UK registered companies:
Accrington Packing & Storage Limited
Anncell Limited
Aquamura Limited
Chamberlain Coatings Limited
Chapelthorpe Engineering Limited
Chapelthorpe Limited
Chapelthorpe Hall Limited
Chapelthorpe Plc
Chapelthorpe Specialist Engineering Limited
Chapelthorpe UK Limited
Charles Busfield & Company Limited
Clifton Mills (Brighouse) limited
Darwen Coatings & Adhesives Limited
Dervale Limited
Drake Extrusion Limited
E. & G. Slack Limited
East Pennine Packers Limited
Ecclair Limited
Exshell Limited
F. Drake (Fibres) Limited
Firth Fabrics Limited
Flush Mills Limited
J.B. Battye & Co. Limited
Josand Limited
Lowwhite Limited
McCraig Limited
Plasticisers Engineering Limited
Plasticisers Limited
Readicraft Limited
Readicut Distribution Limited
Readicut H.F. Limited
SPPM Holdings Limited
Shaw Readipak Limited
Shellane Limited
Slack Brothers Limited
Slack Sales Co. Limited
Speciality Coatings Group Limited
Speciality Coatings (Darwen) Limited
Swellnib Limited
Terry Holdings (Horbury) Limited
Weesam Limited
Whitley Transport Limited
Andy has been in the previous 5 years, a director of the following overseas registered companies:
Chapelthorpe Inc
Chapelthorpe Investments Inc
Chapelthorpe Holdings Inc
Drake Extrusion Inc
Speciality Coatings (Virginia) Limited
Chapelthorpe Realty, Inc
Andy was a director of Hoyland Fox Limited until June 2007 when it was sold by Chapelthorpe Plc. Hoyland Fox Limited was placed in administration in March 2008.
No further disclosure is required under paragraph (g) to Schedule Two of the AIM Rules for Companies with respect to Andrew Weatherstone.
Enquiries:
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Elektron Technology plc www.elektron-technology.com |
Tel. +44 (0)1223 371 000 |
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Keith Daley - Chairman |
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John Wilson - CEO |
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finnCap |
Tel. +44 (0)20 7220 0500 |
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Ed Frisby / Ben Thompson - Corporate Finance |
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Simon Starr / Victoria Bates- Corporate Broking |
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College Hill |
Tel. +44 (0)20 7457 2020 |
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Adrian Duffield / Rozi Morris |
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