Equipmake Holdings - Directorate Change
15/11/2024 07:00
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RNS Number : 3374M Equipmake Holdings PLC 15 November 2024
This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 ("MAR").
15 November 2024
Equipmake Holdings PLC
("Equipmake" or the "Company" or the "Group")
Directorate Change
Equipmake, a market leader in engineering-driven differentiated
electrification technologies, products and solutions across the automotive,
truck, bus and speciality vehicle industries, announces that Tony Ratcliffe,
Chief Financial Officer, Executive Director and Company Secretary, has
resigned from the Company, effective 30 November 2024.
Since joining the Company in April 2024, Tony has supported in refining the
Group's strategy, in securing an additional financing round of £3 million,
which closed earlier this month, and in revision of operating cost base as the
strategic focus is evolving to the supply of high value EV components,
drivetrain solutions and in licencing of its core technology and knowhow.
The Company plans to commence the search for a new Chief Financial Officer and
in the meantime, it is anticipated that Tony will be available to provide
strategic financial support on a consulting basis. Day-to-day finance
activities will continue to be led by Laurence Moore, Head of Finance, who is
FCCA qualified and has a strong and relevant background within the electronic
components sector. He joined Equipmake in May 2024.
Laurence Moore will be appointed as Company Secretary effective from 30
November 2024.
Ian Foley, CEO of Equipmake said: "I would like to thank Tony for his support
this year and for the on-going flexible support he will be able to provide to
Equipmake. The Board as a whole appreciate the financial clarity and
leadership he has provided and particularly appreciate his expertise in
helping to secure the recent financing round and wish him well as he pursues
his future career."
( )
**ENDS**
For further information, please contact:
Equipmake Via St Brides Partners
Ian Foley, CEO
Tony Ratcliffe, CFO
Panmure Liberum (Corporate Adviser & Joint Broker) Tel: +44 (0) 20 7886 2500
James Sinclair-Ford / Josh Moss
Mark Murphy / Sam Elder
VSA Capital Limited (Joint Broker)
Simon Barton / Alex Cabral Tel: +44 (0) 20 3005 5000
St Brides Partners (Financial PR Adviser) Tel: +44 (0) 20 7236 1177
equipmake@stbridespartners.co.uk
Susie Geliher / Paul Dulieu / Will Turner
About Equipmake
Equipmake is a UK-based industrial technology company specialising in the
engineering, development and production of electrification products to meet
the needs of the automotive and other sectors in support of the transition
from fossil-fuelled to zero-emission drivetrains.
Equipmake is a leader in high performance technologically advanced electric
motors, inverters and complete zero-emission electric drivetrains and power
electronic systems. Equipmake has developed a vertically integrated solution
providing fully bespoke solutions to its customers. The Company is focussed on
accelerating traction with OEM and Tier 1 suppliers in relation to higher
margin component and drivetrain supply under long-term growth contracts and
securing high margin licencing transactions.
Key differentiators of the Company offerings are its advanced technology and
performance, reliability and adherence to ASIL-D(1) functional safety.
Equipmake's advanced motor and inverter technology, featuring ASIL-D
compliance, are designed to customers' highest Functional Safety standards.
With decades of experience in electric drivetrain integration and a dedicated
prototype vehicle testing facility, Equipmake can significantly accelerate
product development for customers.
(1)Automotive Safety Integrity Level ("ASIL") is a risk classification scheme
defined by the ISO 26262 - Functional Safety for Road Vehicles standard and is
a critical requirement for road vehicles. Of the four ASILs identified by the
standard, ASIL-D dictates the highest integrity requirements on the product,
which
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