Last checked at 1 Jun 2018 07:00
Sprue Aegis plc
("Sprue" or the "Company" or the "Group")
Directorate change
and
Board update
Directorate change
Sprue (AIM: SPRP), one of Europe's leading developers and suppliers of home safety products, is pleased to announce the appointment of Mike Stilwell as Group Finance Director with effect from 3 December 2018, having served 6 months' notice at his current employer. In the meantime, the Company's finance function will be run by Zoe Fox, Finance Director of Sprue Safety Products Limited, the Company's principal subsidiary, a role which Zoe has held at the Company since 2010.
Mike is currently the finance director of Synectics plc, which he joined in 2012 as group financial controller before being appointed as finance director in October 2015. Previously, Mike held finance roles with the Saint-Gobain Group, Coventry Building Society and Caparo Group. Mike qualified as a chartered accountant with KPMG in 2001.
Neil Smith, Group Chief Executive of Sprue, commented: "We are delighted to have recruited Mike and look forward to him joining us and his contribution to the Group."
Board update
Graham Whitworth, the Company's Executive Chairman, has indicated his intention to step down from his role as Executive Chairman once a replacement non-executive Chairman has been appointed. As a result, the Board has created a Nominations Committee, comprising the non-executive Directors of the Company, to commence the search for, and appoint, a new non-executive Chairman. Following the appointment of the new Chairman, the intention is that Graham Whitworth will remain as a non-executive Director of the Company. A further announcement will be made in due course.
Graham Whitworth, Executive Chairman of the Company, commented: "It's been a privilege to have served as Chairman of the Company since 2001, during which period the Company has grown substantially and undergone significant changes to become a market leader in its field. I feel that it is appropriate for the Company to enter the next phase of its development with a new Chairman in place. I am keen to remain involved in the business and stay on the Board as a non-executive director."
For further information, please contact:
Sprue Aegis plc | 02477 717700 |
Graham Whitworth, Executive Chairman Neil Smith, Group Chief Executive |
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Stockdale Securities | 020 7601 6100 |
Tom Griffiths
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Vigo Communications Jeremy Garcia / Fiona Henson | 020 7830 9701 |
Regulatory disclosures (in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies)
Michael ("Mike") James Stilwell, aged 42, is, or has been during the last five years, a director or partner of the following companies/partnerships:
Current directorships/partnerships:
Coex Limited
Falcon Equipment and Systems Limited
Fotovalue Limited
IES Integrated Electronic Systems Limited
Integrated Environmental Systems Limited
Look CCTV Limited
Look Closed Circuit T.V. Limited
Protec 2001 Limited
Protec PLC
Quadnetics Group Limited
Quadrant Research & Development Limited
Quadrant Video Systems PLC
SDA Protec Limited
SDA Network Solutions Limited
SDA Protec (2001) Limited
Sectronic (Marketing) Limited
Security Design Associates (1979) Limited
Software Developments (Digital Direct) Limited
SSS Managed Services Limited
SSS Management Services Limited
Stanmore Systems Limited
Synectic Systems Limited
Synectics Managed Services Limited
Synectics No.2 Limited
Synectics Technology Centre Limited
Sanpho Pensions Trustees Limited
A1 Presentations Limited
Synectic Systems Group Limited
Quadrant Security Group Limited
Synectics plc
Synectic Systems Inc
Indanet GmbH
Quadnetics Employees' Trustees Limited
Quadnetics SIP Trustees Limited
Synectic Systems GmbH
Synectic Systems (Asia) PTE Limited
Synectic Systems (Macau) Limited
Previous directorships/partnerships:
None
There are no other disclosures to be made in accordance with Schedule Two paragraph (g) of the AIM Rules.
Notes to Editors
About Sprue Aegis plc
Sprue's mission is to protect, save and improve our customers' lives by making innovative, leading edge technology simple and accessible. Sprue is one of the market leaders in the European home safety products market and launched its own connected homes product proposition at the end of 2016.
Sprue's principal products are smoke alarms, CO alarms and accessories. The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories. Products are sold under Sprue's leading brands of FireAngel, FireAngel Pro, SONA, AngelEye and FireAngel Connect. For further product information, please visit:www.sprue.com