Assetco Regulatory News (ASTO)

2 Sep 2008 13:42



AssetCo plc

(the 'Company' or 'AssetCo')

BOARD APPOINTMENT

AssetCo plc is pleased to announce the appointment of Peter Manning as a non-executive director of the Board of the Company with effect from 2nd September 2008.

Peter David Manning, age 53, has extensive international experience in senior operating and customer focused roles in service and technology industries and in business process outsourcing.

Between 2004 -2007 he was Chief Executive of HBS Ltd, a business owned by Terra Firma Capital Partners providing business process outsourcing to the Local Government sector in the UK, which was subsequently sold to Mouchel Group plc. Before joining HBS Ltd, from 1999-2003, Peter was President and Chief Executive Officer of COLT Telecom PLC, the pan European telecom operator and from 1996-1999, President and Chief Executive Officer of the US based telecoms group Concert Communication Inc. based in Virginia, USA. His early career was at British Telecom where, between 1994 -1996, he was Chief Operating Officer of BT Europe.

Peter is currently a non-executive director of Intec Telecom Systems PLC and non-executive Chairman of private equity owned AxeII Wireless Ltd. He is principal of PMNetworks Ltd, a business which works alongside private equity companies and financial institutions restructuring UK and European investments in the hi-tech and public services sectors.

He is a Chartered Engineer and Fellow of the Institution of Electrical Engineers, a Fellow of the Institute of Directors, a Liveryman of London (Worshipful Company of Information Technologists) and holds a first class honours degree in Computer Science. 

Peter currently holds, or has held, the following directorships:

Concert Communications Inc 1996 to 1999

Colt Telecom PLC 1999 to 2003

Jazztel PLC (Spain) 2003 to 2005

Glacier Holdings Ltd (Trading as Cablecom GMBH Switzerland) 2003 to 2005

PMNetworks Ltd 2003 to present

High Speed Office Ltd, February 2004 to present

Intec Telecom Systems PLC, April 2004 to present

Senator Capital Ltd (Traded as HBS Ltd), September 2004 to September 2007

Global Voice PLC (trading as EUNetworks) March 2008 to present

Hamsard 3029Ltd (Trading as Axell Wireless Ltd) March 2008 to present

There are no further details required to be disclosed pursuant to Schedule Two, paragraph (g) (i) to (viii) of the AIM Rules.

Tim Wightman, Chairman of AssetCo, said:

"The Directors are delighted to welcome Peter to the Board of AssetCo as we continue to ensure that we have the best team in place to deliver on our strategy. Peter has extensive international experience and knowledge, not only of the public company arena but also within the public services and outsourcing markets. These attributes will be of great benefit to AssetCo as we continue to develop our business both in the UK and internationally."

For more information please contact:

AssetCo plc  Tel: +44 (0) 20 8515 3999

John Shannon

Frank Flynn

Buchanan Communications  Tel: +44 (0) 20 7466 5000

Tim Anderson

Isabel Podda

Hoare Govett Limited - Nomad Tel: +44 (0) 20 7678 8000

Stephen Bowler

John MacGowan

Richard Crichton