CTP.L Regulatory News (CTP)

13 Oct 2009 07:00



13 October 2009

Redstone plc

("Redstone" or "the Group")

Board Changes

Redstone plc (AIM:RED.L), the integrated ICT and Communications Solutions provider, today announces that Tim Perks, Chief Financial Officer, has resigned. Mr Perks has been with Redstone as CFO for the last 5 years and has recently led the disposal of the telecommunications and mobile divisions, together with a refinancing of the Group through a structured debt and a new banking facility.

Mr Perks said "I have thoroughly enjoyed my tenure as CFO of Redstone over the past 5 years, and now that the financial restructuring of the Group is complete, feel it is time to move on. I would like to thank the Board and my work colleagues for their help and support over this time."

Mr Peter Hallett (aged 51) will join the Board as Chief Financial Officer with immediate effect. Peter, a highly experienced CFO, has previously assisted in turnaround and restructuring situations for Waterford Wedgwood plc, Speciality Retail Group plc, Wm Morrison plc and First Quench Retailing Limited.

Stephen Yapp, Executive Chairman commented:

"The Board would like to thank Tim for his contribution in helping the Group to deliver the disposal of the telecommunications and mobile division, managing a programme of cost reductions and most recently overseeing the recent refinancing. We wish Tim well for the future.

"Peter is an experienced turnaround CFO and has been working with the Group for the past 3 months in a consultancy capacity assisting in the Group refinancing. He is therefore already familiar with the business and we welcome him to the Board." 

Peter Hallett Schedule 2(g) disclosure

Peter Hallett is a Chartered Accountant. 

Listed below are the names of the companies of which Peter Hallett has been a director at any time in the past five years; there are no other details that need to be disclosed in accordance with Schedule 2(g) of the Aim Rules for Companies: 

Management Infrastructure Services Limited 

Speciality Retail Group plc

Enquiries

Redstone plc 

Tel: +44 (0)845 203 3943 

Stephen Yapp, Executive Chairman 

FinnCap 

Tel: +44 (0)20 7600 1658 

Marc Young 

ICIS 

Tel. +44 (0)20 7651 8688 

Tom Moriarty 

Bob Huxford