Flowgroup Regulatory News (FLOW)

16 Oct 2007 08:00

VPhase PLC16 October 2007 Press Release 16 October 2007 VPhase plc ("VPhase" or the "Company") Appointment of Director The Directors of the Company are pleased to announce the appointment of Dr. LeeJuby, as Chief Executive Officer, to the Board of VPhase plc with effect from 1January 2008. Dr Juby was one of the principal inventors of the Company'senergy-saving voltage control device. Dr Juby's most recent experience has been with Rolls-Royce DGS, as the head ofproduct planning with responsibility for the strategic development of thebusiness and venture investments. Dr Juby will be responsible for thecommercialisation of a range of voltage control devices, which are expected toemerge from the Company's already established ''technology platform''. The Directors have also agreed to grant Dr Juby options over 15,603,001 of theordinary shares of 0.25p each, fully paid at an exercise price of 1.88p perordinary share, the middle market price of the ordinary shares ruling at thetime of the negotiation. The exercise period will be 01/01/11 to 01/01/14. Dr Lee Juby holds a Ph.D in Electrical and Electronic Engineering from theUniversity of Manchester Institute of Science and Technology (UMIST) and has adegree in Electrical and Electronic Engineering from Nottingham TrentUniversity. He is also a member of the Institute of Electrical Engineers. Dr Juby has previously worked at EA technology Ltd where he was senior technicalexpert and as a Director of Energetix (Pnu) Power Limited where he wasresponsible for the electrical and electronic aspects of products underdevelopment by Energetix Group and its subsidiaries. Commenting on the appointment, Chairman of VPhase, Adrian Hutchings, said: "Weare delighted to announce the appointment of Lee Juby as Chief ExecutiveOfficer. Lee's technical and commercial knowledge of the VPhase voltage controlproduct, coupled with his managerial expertise, will be invaluable to theCompany's development. We believe that a wide range of markets will benefit from the introduction ofthe Company's cost effective devices at a time when regulatory and economicpressures are demanding ever-increasing energy savings. These markets includeboth new housing and housing replacement in the public and private sectors, aswell as the commercial property sector, namely office and retail outlets. Lee joins us at an exciting stage and we look forward to working with him inbringing our existing and future technologies to maturity and, ultimately,taking full advantage of this strong market potential." Dr Lee JubyAge: 35 Directorships CurrentNonePastEnergetix (PNU) Power Limited No further information falls to be disclosed under Schedule Two (g) of the AIMRules. Dated: 16 October 2007 - Ends - For further information: VPhase plcAdrian Hutchings, Chairman Tel: +44 (0) 151 348 2111Richard Smith, Chief Financial Officer Tel: +44 (0) 151 348 2116 www.vphase.com Zimmerman Adams 020 7060 1760Graeme ThomCharity Walmsley www.zimmint.com BankOra Limited 020 7562 4700Michael BrennanHenry Turcan www.bankora.com Media enquiries: Abchurch Communications 020 7398 7700Justin HeathMonique Tsangmonique.tsang@abchurch-group.com www.abchurch-group.com This information is provided by RNS The company news service from the London Stock Exchange