REG - Titon Holdings PLC - Non-Executive Director and Board changes

Titon HoldingsAnnouncement

01/04/2022 07:15

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RNS Number : 8441G  Titon Holdings PLC  01 April 2022

LEI: 213800ZHXS8G27RM1DD7

 

 
1 April 2022

Titon Holdings Plc

Non-Executive Director appointments and Board changes

 

Titon Holdings Plc, ("Titon", the "Company" or the "Group") a leading
manufacturer and supplier of ventilation systems and window and door hardware,
today announces the appointments of Paul Hooper and Jeff Ward as independent
Non-executive Directors of Titon with immediate effect. At the same time, John
Anderson, the Company's founder and a Non-Executive Director, will step down
from the Board but will remain as President in recognition of his outstanding
contribution to Titon since its inception in 1972. Tyson Anderson will take on
the position of Deputy Chairman.

Independent Non-executive Director appointments

Paul Hooper is currently Chief Executive of The Alumasc Group plc, a position
he has held since April 2003. Alumasc is a UK-based supplier of sustainable
building products and solutions. He joined Alumasc in April 2001 as Group
Managing Director. His earlier career included a first Managing Director role
with BTR plc in 1992. He subsequently joined Williams Holdings plc in Special
Operations, implementing acquisitions in Europe and North America, prior to
joining Rexam PLC as a Divisional Managing Director with responsibility for
operations in Europe and South East Asia. Paul holds an MBA from Cranfield
School of Management.

Jeff Ward is currently CEO of Guardian Fall, one of the largest independent
height safety companies in the world. He was previously CEO of Centurion
Safety Products from December 2015 until July 2020 and before then held a
number of leadership roles in hardware and safety businesses where he was
responsible for a range of activities, including sales, marketing, supply
chain and strategy.  Jeff holds an MBA from Warwick Business School and also
serves as a Director of the British Safety Industry Federation.

Both individuals bring a wealth of experience and skills to the Board and we
look forward to them making a valuable contribution to Titon's future.

Board Changes

John Anderson will step down as Deputy Chairman and a Non-Executive Director
of the Company with immediate effect and will take up the position of
President due to his outstanding service to Titon. He will no longer be a
director of the Company but will still be entitled to attend board meetings
where his experience and advice will always be valued. Tyson Anderson will
take on the position of Deputy Chairman of the Board from today and will
represent the Anderson family shareholding in Titon on the Board. The role of
Sales and Marketing Director will be moved to our main operating subsidiary,
Titon Hardware Ltd, and Tyson will continue his duties in this role. As
previously announced, Tony Gearey will leave the Group on 6 April 2022 and the
role of IT Director will cease with effect from the same day. These changes
are designed to allow the Board to focus on delivering the Group's strategy
and financial performance while ensuring that operational matters are managed
at the level of the main subsidiary.

 

 

Keith Ritchie, Executive Chairman, commented:

"I am delighted to welcome Paul and Jeff to the Board and I am confident that
they will utilise their invaluable experience and knowledge in assisting us
with developing our strategy for the future. This is particularly relevant
given the transition to net zero, our role in the continuing need to improve
indoor air quality and our ultimate objective to generate on-going shareholder
value. I look forward to their contributions."

"I pay tribute to John Anderson, as Titon's founder, for his contribution to
the Group over the last 50 years. He was one of the first people who really
understood the importance of trickle vents for indoor air quality in the UK
and has seen many millions installed in homes throughout the country and in
overseas markets. At Titon, the role of President is reserved for individuals
who have rendered outstanding service to Titon and John absolutely meets this
test."

 

For further information please contact:

Titon Holdings Plc

Keith
Ritchie
                       Tel: +44 (0) 7748 146834

Shore Capital (Nominated Adviser and Broker)
 

Daniel
Bush
Tel: +44 (0)20 7408 4090

James O'Neill

 

Appendix - AIM Rule 17

 

 

Regulatory disclosures

In accordance with Schedule 2(g) of the AIM Rules, Graham Paul Hooper, aged
66, holds or has held in the past 5 years the following directorships and
partnerships:

 Current directorships/partnerships        Directorships/partnerships within the last 5 years
 Alumasc Ltd                               AIBP 2 Ltd

 Alumasc Building Products Ltd             Alumasc DD Ltd

 The Alumasc Group Plc                     Alumasc Dispense Ltd

 Alumasc Precision Ltd                     Alumasc Interior Building Products Ltd

 Benjamin Priest Ltd                       The Green Building Products Company Ltd

 Benjamin Priest Group Ltd                 H.E. Holdings Ltd

 Blackdown Horticultural Consultants Ltd   Levolux A.T. Ltd

 Elkington Gatic Ltd                       Llevac Ltd

 Levolux Ltd                               Main Street (Swanland) Management Ltd

 Levolux Inc                               Porterise Ltd

 Roof-Pro Ltd                              Sure-Foot Supports Ltd

 Timloc Building Products Ltd              Warne, Wright & Rowland Ltd

 Wade Drainage Products Ltd

 Wade International Ltd

 Wade International (UK) Ltd

 Swanland Ltd

 

There is no further information required to be disclosed in respect of the
above appointment pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for
Companies.

 

In accordance with Schedule 2(g) of the AIM Rules, Jeffrey Graham Ward, aged
43, holds or has held in the past 5 years the following directorships and
partnerships:

 Current directorships/partnerships                              Directorships/partnerships within the last 5 years
 British Safety Industry Federation Limited                      Centurion Safety Products Ltd

 Pure Safety Group Holdings Limited (trading as Guardian Fall)   Martindale Protection Limited

 Pure Safety Group Inc (doing business as Guardian Fall)         Thetford Moulded Products Ltd

 

Mr Ward was appointed as a Director of Robert J. Hall Limited, an indirect
subsidiary of Storch Holding GmbH at the time, on 1 December 2010 and he
resigned as a Director on 15 April 2011 when he left the Storch group. On 10
February 2012 administrators were appointed. On 31 December 2012, the Company
was placed into creditors voluntary liquidation and was subsequently dissolved
on 21 August 2021. The total deficiency as regards creditors was approximately
£15.9m.

There is no further information required to be disclosed in respect of the
above appointment pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for
Companies.

 

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