2 Aug 2010 07:00
Redstone plc
("Redstone" or the "Company")
Board Appointments
Redstone announces that Ian Smith and Tony Weaver have joined the board of Redstone as Non Executive Directors.
Stephen Yapp, Executive Chairman of Redstone commented:
"We welcome Ian and Tony to our Board, to which they will add considerable IT sector expertise. The Board and I look forward to working with them. "
Ian Smith (46) and Tony Weaver (42) have between them 40 years experience of IT and communications services business. Ian Smith's experience includes senior positions with Cisco Systems, Foundry Networks and Cable & Wireless, Tony Weaver has founded and run IT businesses since the late 1980's. In the last eight years, Ian and Tony were Directors of Xploite plc ("Xploite"). Xploite was created as an aggregator of IT service businesses and completed 26 corporate transactions including two substantial disposals during that period. Over £20m of cash was returned to Xploite's shareholders from their activities before being acquired by Avisen plc.
The following disclosures are being made under Schedule 2(g) of the AIM Rules:
Anthony ("Tony") Charles Weaver is or has been a Director of the following companies and organisations during the past five years:
Current
MXC Capital Limited
Previous:
Avisen plc
Calyx CS Limited
Calyx UK Limited
Carrier Distribution Limited
Fujin Nameco Limited
Harrierzeuros Limited
Ikan Limited
Letlock Limited
Matrix Network Solutions Limited
Network Partners (Holdings) Limited
Norwood Adam Systems Limited
Norwood Adam Technical Services Limited
VBHG Limited
Xploite Holdings Limited
Xploite Plc
Andrew Ian ("Ian") Smith is or has been a Director of the following companies and organisations during the past five years:
Current:
Accumuli plc
MXC Capital Limited
Previous:
Anix Business Systems Limited
Anix Computers Limited
Anix Group Limited
Anix Holdings Limited
AST Connections Limited
Avisen plc
Blue River Systems Limited
Calyx UK Limited
Calyx CS Limited
Dataworkforce Limited
Decorum Connect Limited
Equip Technology Limited
FBHG Limited
Fujin Nameco Limited
Fujin Technology Trading Limited
Harrierzeuros Limited
Harrierzeuros Storage Solutions Limited
Ikan Limited
Intrinsic Networks Limited
Itheon Limited
Matrix Networks Solutions Limited
MCG Solutions Limited
MXC Integration Limited
Netservices plc
Network Partners (Holdings) Limited
Norwood Adam Systems Limited
Norwood Adam Technical Services Limited
Posetiv Limited
Red Square Limited
Storage Fusion Limited
VBHG Limited
Xploite IHC Limited
Ian Smith was a director of Decorum Networks Limited which was dissolved on 30 August 2007 with a deficiency to creditors of £619,305. Ian Smith and Tony Weaver were also directors of Broadblue Catamarans Limited which is in liquidation and Broadblue Catamarans Sales Limited which was dissolved on 5 August 2009. The aggregate deficiency to members and unsecured creditors of both companies was estimated at £612,593.
There is no further disclosure required with regard to Schedule 2(g) of the AIM Rules.
Enquiries:
Redstone plc
Tel: +44 (0)845 203 3943
Stephen Yapp, Executive Chairman
finnCap
Tel: +44 (0)20 7600 1658
Marc Young, Corporate Finance
Charlotte Stranner, Corporate Finance
Tom Jenkins, Corporate Broking
Threadneedle Communications
Tel. +44 (0)20 7651 8688
Tom Moriarty