Last checked at 3 Jun 2008 14:02
| Press Release | 3 June 2008 |
Hardide plc
("Hardide" or "the Company")
Appointment of Chief Executive Officer
Hardide plc (AIM:HDD), the provider of unique metal surface engineering technology, is pleased to announce the appointment of Dr. Graham Hine to the Board of Hardide plc as Chief Executive Officer with immediate effect.
Dr. Richard Graham Hine (known as Graham), aged 53, has a proven twelve year track record in Chief Executive and Chairman roles where he has significantly grown shareholder value in technology-based companies in the advanced electronic materials, semiconductors and sensors industries.
Dr. Hine joins from P2i Limited where he was Chairman and Chief Executive of the Ministry of Defence technology spin-out from Porton Down. At P2i he oversaw the creation of the world's leading hydrophobic surface enhancement company.
Between 2001 and 2005, Dr. Hine advised in a personal capacity a number of public and private companies on corporate activities and fundraisings, including the sale of Dicon Inc. to First Alert Corporation.
Dr. Hine was also Chief Executive of Capteur Sensors Limited from 1996 to 2001, which was successfully sold to First Technology Plc (now a subsidiary of Honeywell), a FTSE 250 company, achieving excellent capital gain for all shareholders.
Dr. Hine achieved a first class degree in Physics from Southampton University and a PhD in Physics from Cambridge University. After graduation, he spent nine years on the international fast track scheme within the semiconductor division at Philips plc. He subsequently held a number of director-level business development and general management roles in the advanced engineering and electronics industries before joining Capteur Sensors in 1996.
Dr. Hine has been within the last five years a director or a partner of the following companies or partnerships:
| P2i Limited |
| Element Six Holdings Ltd, Isle of Man |
| Element Six Abrasives SA, Luxembourg |
| Element Six Plus, Isle of Man |
| Element Six SA, Luxembourg |
| Element Six Technologies Holdings Ltd, UK |
| Element Six Technologies Ltd, Isle of Man |
In line with information requiring disclosure under paragraph 2 (g) (v) of Schedule 2 of the AIM Rules, Dr. Hine was Chairman of Metal-X which was voluntarily liquidated in 2001. There are no further matters which are required to be announced with regard to this appointment under paragraph (g) of Schedule 2 of the AIM rules.
Dr. Hine holds no shares in the Company however as part of his contract of employment he will be granted 6,000,000 options in the Company which will vest over three years beginning in October 2009.
Commenting on the appointment, Robert Goddard, Chairman of Hardide plc, said: "The Board is extremely pleased to welcome Graham Hine as Chief Executive Officer. Graham brings a powerful combination of technical, commercial, financial, SME and blue chip experience. He is an entrepreneurial leader with the technology background, experience and attitude that can take Hardide on to the next level. He has a proven track record in unlocking the potential of innovative technologies and in building strong management teams to deliver extraordinary shareholder value. We welcome him to the Company and look forward to working with him to build on the solid foundations that have been established in Hardide."
- Ends -
For further information:
| Hardide plc | |
| Robert Goddard, Chairman Jackie Robinson, Head of Communications | Tel: +44 (0) 1869 353 830 |
| jrobinson@hardide.com | www.hardide.com |
| Seymour Pierce Limited | |
| Nicola Marrin, Corporate Finance | Tel: +44 (0) 20 7107 8000 |
| nicolamarrin@seymourpierce.com | www.seymourpierce.com |
Media enquiries:
| Abchurch | |
| Henry Harrison-Topham / George Parker | Tel: +44 (0) 20 7398 7719 |
| george.parker@abchurch-group.com | www.abchurch-group.com |
Notes to editors:
Hardide Coatings
Hardide provides and applies tungsten carbide-based coatings to a wide range of engineering components. The Company's patented technology is unique in that it combines both abrasion and corrosion resistant properties in one coating. When applied to components, the technology is proven to offer dramatic cost savings through reduced downtime and extended component life. Customers include leading companies operating in oil and gas exploration and production, valve and pumps manufacturing, general engineering and aerospace.