Powerful team imv14 Oct 2013 12:43
21st Century Technology plc (AIM: C21), the supplier and installation service provider of public transport CCTV and vehicle monitoring systems is pleased to announce the appointments to its board of directors (the "Board") of Russ Singleton as Chief Executive Officer and Glenn Robinson as Group Finance Director. Wilson Jennings will step down from the Board with immediate effect but will remain with the Group for a hand over period of up to three months. Mark Elliott has agreed to continue to act as Executive Chairman whilst the Group's business and overall strategy are reviewed before reverting to the role of Non-Executive Chairman
Russ's strong track record includes forming and growing electronics businesses for Quadnetics Group Plc where after moving to AIM in 2002 he led the group as Chief Executive, achieving a five-fold increase in turnover and substantial profits. This growth came organically and through acquisitions. Subsequently he formed Coretrol Limited to focus on opportunities in the security markets.
Glenn is an experienced Finance Director of SME's, including a period from 1997 with a security subsidiary of Quadnetics working with Russ. During his time at Quadnetics he was an important driver of development and change and made a significant contribution to the group; becoming the group's technical and business development director in 2005. Subsequently he joined Russ in the formation of Coretrol Limited.
The Board resolved on 10th October 2013 to award options over its ordinary shares of 6.5p each under its 2004 Enterprise Management Incentive Plan ("EMI"), approved by shareholders on 18th May 2004. The options have an exercise price of 6.5p, being the nominal share value, as the closing mid-market share price on 9th October 2013 (the latest possible date prior to the date of award) was at a lower level, and are exercisable after 3 years.
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