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19 Jan 2011 15:20
Swallowfield plc
Board changes
Swallowfield plc ("the Company") is pleased to announce the appointments of Mr Martin Hagen and Mr Richard Organ as non-executive directors of the Company with immediate effect. In addition it announces that Patrick Gaynor has today stood down as a non-executive director.
Mr Hagen is the immediate past President of the Institute of Chartered Accountants in England and Wales and has worked at board level with many listed, large national and multinational companies in a variety of roles. He has previously served as the Senior Independent Director of AIM listed Oxonica plc and his appointment brings a wealth of expertise in corporate governance and the regulatory environment governing listed companies.
Mr Hagen is Deputy Chairman of the Financial Services Authority's Regulatory Decisions Committee and until recently was a member of the Takeover Panel administering the City Code on takeovers and mergers. He is also a non executive director of South West Water, a member of the Audit Committee at the London School of Economics and a governor of the University of the West of England, where he chairs the Audit Committee, and a Trustee of the Fleet Air Arm Museum.
Mr Organ is a former director of Swallowfield having been appointed a non-executive director in 1996 and served as interim Chairman from October 1999 to May 2000. He stood down as a director during 2009 following a period of handover to Mr Gaynor and has rejoined the Board in order to provide continuity following the departure of Mr Gaynor.
Mr Organ is non executive chairman of CEPS plc, an AIM listed diverse industrial services company.
Shena Winning, the Chairman, commented "I am delighted Martin and Richard have agreed to join the Board and their considerable experience will be a significant asset to the Company as we move forward. On the behalf of the Board I would like to thank Patrick for his contribution to the Company and wish him well in the future."
Enquiries:
Swallowfield plc | 01823 662241 |
Ian Mackinnon - Chief Executive Officer | |
Smith & Williamson Corporate Finance | 0117 3762213 |
Nick Reeve - Nominated Adviser | |
Barrie Newton - Broking |
The following information is disclosed in relation to Schedule Two paragraph (g) of the AIM Rules:
Martin John Hagen, aged 59, has been a director of the following companies during the last 5 years:
Current Directorships | Previous Directorships |
South West Water Limited | CCAB Limited |
DS Realisation 2010 Ltd (formerly White Light Therapy Ltd) | |
Oxonica plc |
Richard Thomas Organ, aged 58, has been a director of the following companies during the last 5 years:
Current Directorships | Previous Directorships |
Axminster Carpets Holdings Limited | A2Dominion Housing Group Limited |
CEPS plc | The Art Room (Oxford) |
Davies & Co (Kettering) Limited | Cherwell Charitable Fund |
Davies and Company Limited | Dominion Housing Group Limited |
Davies Odell Limited | Funkifabrics Limited |
Farmat Limited | Innovox Partners Limited |
Gloucestershire Young Carers Project | Oxford Informal Investor Syndicate |
Phillips Rubber Limited | Swallowfield plc |
Spectrum Housing Group Limited | |
Sunline Direct Mail (Holdings) Limited | |
Sunline Direct Mail Limited |
Mr Organ has a beneficial interest in 192,700 ordinary shares representing 1.7 per cent. of the Company's issued share capital.
Mr Organ resigned as a director of Oxford Bee Company Limited on 25 July 2005 following a disagreement over the future strategy of the business. Oxford Bee Company Limited was put into creditors' voluntary liquidation on 6 February 2006 with an estimated deficiency as regards creditors of £627,125.
No further information is required to be disclosed pursuant to Schedule Two paragraph (g).
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