9 Aug 2012 14:07
9 August 2012
Hydrodec Group plc
("Hydrodec")
Appointment of Alan Carruthers to the Board as non-executive director
Hydrodec, the cleantech industrial oil re-refining group (AIM:HYR), is pleased to announce that Alan Carruthers has been appointed to the Board as a non-executive director with immediate effect.
Alan Carruthers has 27 years' experience in the financial markets and from 2003 to 2010 he was Global Head of Equities at Cazenove. During this time he was appointed a main board director and was a member of both the executive and operations committees. He helped spearhead the joint venture with J.P.Morgan in 2005 and spent a year as Head of EMEA Cash Equities at J.P.Morgan Cazenove, following the buyout of Cazenove in January 2011 and the ensuing merger of both cash equity franchises. Prior to joining Cazenove he spent significant time at both Morgan Stanley and Goldman Sachs.
Neil Gaskell, Chairman of Hydrodec, commented: "I am delighted to welcome Alan to the Board. He brings a wealth of financial market experience which will greatly strengthen the Board's ability to support the development of the Hydrodec business."
For further information please contact:
Hydrodec Group plc | 020 7907 9220 | |||
Neil Gaskell, Chairman Ian Smale, CEO | ||||
Mike Preen, Head of Corporate and Legal Affairs | ||||
Numis Securities Limited (Nominated adviser/joint broker) | 020 7260 1000 | |||
Nominated Adviser: Hugh Jonathan Corporate Broker: David Poutney, Alex Ham
|
020 7397 8900 | |||
Luther Pendragon (PR adviser to Hydrodec) | 020 7618 9100 | |||
Neil Thapar, Alexis Gore |
The following information on Alan Carruthers is provided pursuant to AIM Rule 17:
Full name and age: Alan Thomas Carruthers (50)
Current directorships: None
Previous directorships (past 5 years):
Cazenove & Co. Ltd (now J.P. Morgan Cazenove Ltd)
Cazenove Inc
Cazenove US Holdings Ltd
J.P.Morgan Securities PLC
Interest in shares: Mr Carruthers has an interest in 390,000 ordinary shares in Hydrodec.
Notes to Editors:
Hydrodec's technology is a proven highly efficient oil re-refining and chemical process which is being initially targeted at the multi-billion US$ market for transformer oil used by the world's electricity industry. The Group takes spent oil, including polychlorinated biphenyl ("PCB") contaminated oil, as the primary feedstock, which is then processed at its two plants enabling 99 per cent or greater recovery of oil for reuse while also eliminating PCBs, a toxic additive banned under international regulations, without environmentally harmful emissions.
Hydrodec's plants are located at Canton, Ohio, US and Young, New South Wales, Australia. The Group's shares are listed on the AIM Market of the London Stock Exchange. For further information, please visit www.hydrodec.com.