9 Jan 2009 18:06
AdEPT Telecom, a leading independent provider of award-winning telecommunications services for landline calls, line rental and broadband, is making a Board change and appointing a new Nomad and Broker.
John Peter Swaite (ACA), Group Financial Controller, is appointed Group Finance Director with immediate effect. John (aged 31) joined AdEPT Telecom in April last year having spent nine years rising to senior manager level with Horwath Clark Whitehill, the Group's auditor.
Tim Holland, the previous Group Finance Director, has left AdEPT to pursue other opportunities. Tim joined AdEPT in September 2005 and successfully saw the Group through its AIM flotation in February 2006. Since then Tim has been instrumental in completing a number of acquisitions, including Telecom Direct in November 2007 and also overseeing the Group's banking facilities with Barclays'. The Board would like to take this opportunity to thank Tim for his contribution to AdEPT and to wish him well for the future.
Mark Palios, one of our non-executive directors is standing down from the Board with immediate effect. Mark is a renowned corporate recovery specialist whose services are in much demand in this economic climate. Given that our banking facilities have been secured for a further three years, Mark leaves us in a good financial shape. His advice and counsel have been much appreciated over the last two and a half years.
We are pleased to announce that Blue Oar Securities Limited has been appointed as both Broker and Nominated Adviser to the company.
There is no further information that is required to be disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules in relation to Mr Swaite.