Eleco plc
(“Eleco” or the “Company”)
Board changes
The Board of Eleco announces the following Board changes.
Jonathan Brenig Edwards (54) was, on 1 April, appointed a Non Executive Director. He is a Chartered Accountant and Barrister with experience in investment banking and is currently a director of Guildhall Asset Management (Guernsey) Limited and Guildhall Research & Management Limited. He does not hold any shares in the Company. There is no further information required to be disclosed in accordance with Schedule 2, paragraph (g) of the AIM Rules for Companies.
Fred Newby, Deputy Chairman, has informed the Board of his wish to retire in June 2011 and has given the required notice in accordance with his request. He has overseen the development of Bell & Webster Concrete into a leading UK producer of precast concrete. However, this business has been particularly affected by the downturn in the construction industry. Accordingly, in the year ahead, he will focus on implementing the agreed recovery strategy for Bell & Webster Concrete, and the development of its management team to ensure an effective handover upon his retirement.
John Ketteley, Executive Chairman of Eleco, commented: “We are delighted to welcome Jonathan Edwards to the Board, which will benefit from his management and legal experience. We are also pleased that Fred Newby, in the year ahead, will concentrate his efforts on implementing the recovery strategy of Bell & Webster Concrete, with the objective of ensuring an effective handover to his management team”.
Contact:-
John Ketteley, Eleco plc – 01920 443830
Bruce Garrow, Collins Stewart Europe Limited – 020 7523 8350
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