REG - Ashtead Tech Hldgs - Directorate Change

Ashtead Technology HoldingsAnnouncement

19/12/2023 07:00

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RNS Number : 2178X  Ashtead Technology Holdings plc  19 December 2023

19 December 2023

Ashtead Technology Holdings plc

("Ashtead Technology" or the "Company" or the "Group")

 

Directorate Change

 

 

Ashtead Technology Holdings plc (AIM: AT.), a leading subsea equipment rental
and solutions provider for the global offshore energy sector, announces that
Joe Connolly has stepped down from his position as a Non-Executive Director
("NED") of the Group with effect from Monday 18(th) December 2023.

 

Joe joined the Board of Ashtead Technology in 2016 when Buckthorn Partners LLP
("Buckthorn Partners") acquired the business and remained on the Board
following the Company's IPO on AIM in 2021. Following Buckthorn Partners' full
exit from its investment in Ashtead Technology earlier this year, Joe has now
stepped down to focus on other Buckthorn Partners' investments.

 

The Board would like to express its sincere thanks to Joe for his significant
contribution during his long tenure at the Company, both in the years before
and following its IPO.

 

The Group has commenced the search for a new NED and will provide an update in
due course.

 

Allan Pirie, Ashtead Technology's CEO, commented:

 

"We are grateful to Joe for his commitment to Ashtead Technology throughout
what has been a pivotal period in the Company's development. Joe's
contribution to the Board over the past 7 years has been hugely valuable and
we wish him all the best in his future endeavours."

 

-ends-

 

For further information, please contact:

 

 Ashtead Technology                           (Via Vigo Consulting)

 Allan Pirie, Chief Executive Officer

 Ingrid Stewart, Chief Financial Officer

 Vigo Consulting (financial PR)               Tel: +44 (0)20 7390 0230

 Patrick d'Ancona                              ashteadtechnology@vigoconsulting.com

 Finlay Thomson

 Verity Snow

 Numis Securities Limited (Nomad and Broker)  Tel: +44 (0)20 7260 1000

 Julian Cater

 George Price

 Jonny Abbott

 Kevin Cruickshank (QE)

Notes to editors:

 

Ashtead Technology is a leading subsea equipment rental and solutions provider
for the global offshore energy sector.  Ashtead Technology's specialist
equipment, advanced-technologies and support services enable its customers to
understand the subsea environment and manage offshore energy production
infrastructure.

 

The Company's service offering is applicable across the lifecycle of offshore
wind farms and offshore oil and gas infrastructure with over 85% of its
equipment fungible across both markets.

 

In the fast-growing offshore wind sector, Ashtead Technology's specialist
equipment and services are essential through the project development,
construction and installation phase. Once wind farms are operational, Ashtead
Technology supports customers with inspection, maintenance and repair ("IMR")
equipment and services.  In the more mature oil and gas sector, Ashtead
Technology's focus is predominantly on IMR and decommissioning.

 

Headquartered in the UK, the Company operates globally, servicing customers
from its eleven facilities located in key offshore energy hubs.

 

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 as it forms part of domestic law of the United Kingdom
by virtue of the European Union (Withdrawal) Act 2018, as amended (together,
"MAR"). Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

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