CTP.L Regulatory News (CTP)

29 Nov 2005 07:05

Redstone PLC29 November 2005 Redstone plc ("Redstone" or "the Group") BOARD APPOINTMENTS 29 November 2005 - Redstone plc, the telecoms and IT solutions provider, ispleased to announce the appointment to the Board of two new non-executivedirectors, Ashvin Pathak and Gerard Spencer with immediate effect.Ashvin Pathak, aged 55, founded and developed his own software business,Independent Computer Company Ltd in 1980, which he subsequently sold to Misysplc ("Misys") in 1988. He then held senior management and divisionaldirectorships at Misys for over ten years, and led the buy-out of RamesysHoldings Limited in 1999. He now acts as an independent non-executive directoron behalf of 3i plc, and currently sits on the boards (as non-executiveChairman) of 3 of that group's portfolio companies. He also chairs three otherprivate companies and acts as a technology investment advisor to YFM Limited. Gerard Spencer, aged 56, joined BT in 1971 and was employed there until 2000. Heheld senior roles in BT's Business/Corporate divisions, at the time of thelaunch of BT's digital services and during the 1990s was closely involved in thecreation BT's voice and data global services portfolio for multinationals. Hewas Director of International Services for BT Global/Worldwide from 1994 to 2000and was responsible for the design and launch of BT Ignite (now BT Global) as aseparate operating division. Since leaving BT he has acted as a consultant tointernational and domestic wholesale telecommunications companies. He iscurrently an adviser to the Boards of Mitel ( IPPBXs) and Newport Networks ( SIPSession Controllers/Media Gateways), is a director of New Heights, a Canadiansoftware company and non-executive chairman of AIM listed AT Communications PLC. Martin Balaam, CEO, Redstone, commented, "I am delighted to welcome Ashvin andGerard to the Redstone Board. They bring a wealth of knowledge and experiencewhich will be extremely valuable to Redstone as we pursue our businessdevelopment plan over the coming years. Following the appointment of Ashvin andGerard, the Board intends to review the structure of the Board over the comingmonths to ensure that it is best suited to the Company's needs and that thecorrect balance is maintained between the number of executive and non-executiveDirectors." In accordance with the Listing Rules of the UK Listing Authority the Company canconfirm that there are no matters to be disclosed under paragraph 9.6.13 of theListing Rules save that (i) Gerard Spencer is currently a director of ATCommunications PLC and (ii) Ashvin Pathak was a director of Fanemoor Limited, acompany that went into voluntary liquidation in December 1995. ENQUIRIES: Redstone Plc Tel. +44 (0)845 200 2200Tim Perks, Chief Financial Officer ICIS Limited Tel. +44 (0)20 7651 8688Tom Moriarty Or +44 (0)7802 442486Archie Berens This information is provided by RNS The company news service from the London Stock Exchange