Last checked at 15 Mar 2018 07:00
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
15 March 2018
Autins Group plc
(the "Company" or the "Group")
Resignation of Director
Autins Group plc (AIM: AUTG), a leading designer, manufacturer and supplier of acoustic and thermal insulation solutions for the automotive sector announces that Michael Jennings, Chief Executive, gave notice yesterday of his intention to resign. Michael has informed the Board that he has been approached by the new private equity owners of Hydro International Limited to re-join that company as its Chief Executive, having previously held this position prior to joining Autins.
Michael will continue as Chief Executive during his notice period, of up to twelve months, in order to ensure the continued smooth running and orderly handover of the business, whilst the Board undertakes a formal search process to recruit his successor.
Adam Attwood, Non-Executive Chairman, commented:
"During his tenure as Chief Executive, Michael has significantly improved the organisation, processes and detailed plans that are required to deliver the future growth from market penetration and customer diversification which underpins and remains the Company's strategic objective."
As announced in the Company's AGM trading update, the interim results for the six months ending 31 March 2018 will be announced in June 2018.
For further information please contact:
Autins Group plc Adam Attwood, Non-Executive Chairman Michael Jennings, Chief Executive James Larner, CFO
|
Via Newgate |
Cantor Fitzgerald Europe (Nominated Adviser and Broker) Philip Davies Will Goode
| Tel: 020 7894 7000 |
Newgate Communications (Financial PR) Adam Lloyd Ed Treadwell James Browne
| Tel: 020 7653 9850
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About Autins
Autins specialises in the design, manufacture and supply of acoustic and thermal insulation solutions primarily in the automotive sector but with an increasing focus on other sectors, including flooring, building and wider industrial applications.
The Group is one of the leading suppliers of noise and heat management products in the automotive market, producing and supplying over two million parts per month to customers including some of the world's leading vehicle manufacturers.