CTP.L Regulatory News (CTP)

17 Sep 2009 07:02



17 September 2009

Redstone plc

("Redstone" or the "Group")

Board Changes

Redstone is pleased to announce that Stephen Yapp, 52, will join the Board as Non-executive Director with immediate effect. It is intended that Stephen will become Executive Chairman following the posting of the Group's accounts to shareholders, at which time Alan Coppin, Executive Chairman, will step down from the Board. Stephen has extensive experience of strategic business development, operational management and value creation in a quoted company environment. 

Additionally Tim Sherwood, Non-executive Director, will become Non-executive Deputy Chairman of the Group with immediate effect. 

Alan Coppin, Executive Chairman commented:

"During my short term as interim executive chairman, Redstone's response to the challenging operating environment has been robust and has included: the disposal of two of the Group's five divisions and the consequent strategic refocusing of Redstone as an ICT company; the signing of the Birmingham Building Schools for the Future contract; further cost reductions; and, most recently, a shareholder led refinancing exercise. Accordingly, I consider it is the right time for me to leave the reshaped company and to continue with my other non executive roles and writing. I would like to thank all staff and particularly my direct reports for their incredible support over the last five months and to wish them all the very best for the future."

Stephen Yapp Schedule 2(g) disclosure:

Listed below are the names of the companies of which Stephen Yapp 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: 

Journey Group plc (AIM Listed) - Executive Chairman

S&C Yapp Consulting Limited (Private) - Current Directorship

Air Fayre Limited (Private) - Current Directorship

Encompass Supply Chain Management Limited (Private) - Current Directorship

Elev8 Retail Limited (Private) - Current Directorship

International Catering Limited (Private) - Current Directorship

M 'N' H Sustainable Cabin Services Limited (Private) - Current Directorship

Media On The Move Limited (Private) - Current Directorship

Watermark Group Services (UK) Limited (Private) - Current Directorship

Watermark Limited (Private) - Current Directorship

Journey Group Limited (Private) - Current Directorship

Watermark Connect Limited (Private) - Current Directorship

Watermark Products limited (Private) - Current Directorship

Update International Services Limited - Current Directorship

Bigger Than Life (UK) Limited - Current Directorship

Imagesound plc (Matched Bargain) - Past Directorship

Reynolds & Reynolds Automotive Holdings Limited (Private) - Past Directorship

DCS Overseas Holdings Limited (Private) - Past Directorship

DCS Services Limited (Private) - Past Directorship

Intercede 1412 Limited (Private) - Past Directorship

DCS Automedia Limited (Private) - Past Directorship

DCS Automotive Limited (Private) - Past Directorship

Global Automotive (Northern) Limited (Private) - Past Directorship

Four Soft UK Limited (Private) - Past Directorship

DCS Automotive Holdings Limited (Private) - Past Directorship

Enquiries: 

Redstone plc 

Tel: +44 (0)845 200 2200 

Alan Coppin, Executive Chairman 

Tim Perks, Chief Financial Officer 

FinnCap 

Tel: +44 (0)20 7600 1658

Marc Young 

ICIS 

Tel. +44 (0)20 7651 8688 

Tom Moriarty 

Caroline Evans-Jones