PressureTechnologies - Board Appointments
21/03/2023 07:05
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230321:nRSU5981Ta&default-theme=true
RNS Number : 5981T Pressure Technologies PLC 21 March 2023
21 March 2023
Pressure Technologies plc
("Pressure Technologies" or "the Company")
Board Appointments
Pressure Technologies plc, (AIM: PRES), the specialist engineering group,
announces that Richard Staveley will be appointed as a Non-Executive Director
of the Company following the publication of its Annual Report & Accounts
for the financial year ended 1 October 2022, which the Company currently
expects to be no later than the end of April 2023.
Richard is a qualified accountant who has over twenty years' experience of
equity investing, fund management and working with both private and publicly
quoted companies. Having qualified as a Chartered Accountant at
PricewaterhouseCoopers, Richard has worked in a senior capacity and fund
manager at a number of successful fund management businesses, including
Majedie Asset Management and was a co-founder of River and Mercantile Asset
Management. He is a Chartered Financial Analyst (CFA) Charterholder and holds
a Bachelor of Arts degree in politics from the University of Newcastle.
Richard is a Non-Executive Director of AIM quoted Bonhill Plc, and Centaur
Media plc, a company listed on the main market of the London Stock Exchange.
Richard Staveley is a consultant to Harwood Capital LLP ("Harwood"), the
investment manager of Rockwood Strategic plc, which holds 20.04 percent of the
Company's issued share capital, and is being appointed as a representative of
Harwood pursuant to a Relationship Agreement between the Company, Harwood and
the Company's nominated adviser. The primary purpose of the Relationship
Agreement is to ensure that the Company is capable of carrying on its business
independently at all times. In accordance with the terms of the Relationship
Agreement, Mr Staveley shall be entitled to remain on the Board of Directors
of the Company provided that Harwood retains an aggregate interest of at least
10% of the Company's issued ordinary share capital.
On 17 January 2023, the Company announced the appointment of Steve Hammell as
Chief Financial Officer, which was expected to be in the second quarter of
this calendar year. The Company now confirms that Steve will join the Company
as a Director in May 2023.
Further announcements will be made regarding the appointment dates for both
Directors in due course, as appropriate.
Nick Salmon, Chair of Pressure Technologies, commented on the appointments:
"We are appreciative of the support the Company has from key shareholders and
Richard's appointment further demonstrates this. We are delighted that Richard
will be joining the Board and believe his knowledge of the business and
considerable investment experience will be invaluable.
We are pleased that Steve will also be joining the Board, where his
considerable financial knowledge and industry experience will contribute
significantly to the development of the business."
Regulatory disclosures
In accordance with Schedule 2(g) of the AIM Rules for Companies, Richard Adam
Staveley (aged 48) is, or has been within the previous five years, a director
or partner of the following companies or partnerships:
Current directorships/partnerships Past directorships/partnerships
Wildblood Ltd None
Centaur Media plc
Bonhill Plc
Richard Staveley does not have any beneficial interest in the Company's issued
share capital. There is no further information to be disclosed pursuant to
Schedule 2(g) of the AIM Rules for Companies.
Regulatory disclosures for Steve Hammell were made in the Company's
announcement on 17 January 2023.
For further information, please contact:
Pressure Technologies plc Tel: 0330 015 0710
Chris Walters, Chief Executive PressureTechnologies@houston.co.uk (about%3Ablank)
Singer Capital Markets (Nomad and Broker) Tel: 0207 496 3000
Rick Thompson / Asha Chotai
Houston (Financial PR and Investor Relations) Tel: 0204 529 0549
Kay Larsen / Ben Robinson
COMPANY DESCRIPTION
www.pressuretechnologies.com (about%3Ablank)
With its head office in Sheffield, the Pressure Technologies Group was founded
on its leading market position as a designer and manufacturer of
high-integrity, safety-critical components and systems serving global supply
chains in oil and gas, defence, industrial and hydrogen energy markets.
The Group has two divisions, Chesterfield Special Cylinders and Precision
Machined Components.
Chesterfield Special Cylinders (CSC) - www.chesterfieldcylinders.com
(about%3Ablank)
● Chesterfield Special Cylinders, Sheffield, includes CSC Deutschland GmbH.
Precision Machined Components (PMC) - www.pt-pmc.com (about%3Ablank)
● Precision Machined Components includes the Al-Met, Roota Engineering and
Martract sites.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END BOAPPUAAWUPWPWU