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23 Aug 2013 07:00
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23 August 2013
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21st Century Technology plc
("21st Century", "the Company" or "the Group")
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Board Change
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21st Century Technology plc (AIM: C21), the supplier and installation service provider of public transport CCTV and vehicle monitoring systems, announces that Mark Elliott, currently Acting Finance Director of the Company, has agreed to act as Executive Chairman to work closely alongside the Company's Chief Executive whilst a new Chief Executive is sought. Jan Holmstrom, the former Non-Executive Chairman, is to leave the Board with immediate effect.
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In addition to actively seeking a Chief Executive Officer, as outlined in the Company's announcement of 19 August 2013, the Company intends to strengthen the Board through the appointment, in due course, of a new Finance Director and a further Non-Executive Director. Once these appointments have been made, Mark Elliott will revert to the role of Non-Executive Chairman.
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Mark Elliott, Executive Chairman of the Company, commented that: "The Board is seeking to ensure that the board of directors is structured to fit the Company's strategy, including providing valuable executive support to our current Chief Executive and to meet best practice in corporate governance as soon as practicable.
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"It is with regret that Jan has informed the Board that he is not able to commit sufficient time to an executive role in view of his other engagements. Accordingly, he has resigned with our gratitude for his contribution during the past three years. During this time, the Company has established itself as a leading supplier of CCTV to the transportation market, realised its freehold property and subsequently made a significant capital repayment to shareholders, and instigated a dividend policy. I wish him all the best with his future ventures. We are currently working hard to appoint new Board members with strategic and operational experience to further strengthen the Board and look forward to announcing those in due course."
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Ends
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Enquiries: Β 21 Century Technology plc | Β Β Β Mark Elliott | Β Β Β Tel: 0844 871 7932 |
www.21stplc.com | Executive Chairman | |
finnCap Limited | Tel: 0207 220 0500 | |
Nominated Adviser | Matt Goode/Henrik Persson | |
Corporate Broking | Rhys Williams/Simon Starr | |
MHP Communications | Barnaby Fry/Vicky Watkins | Tel: 020 3128 8100 |
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Notes to editors:
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21st Century Technology plc (AIM: C21), a leading supplier of public transport CCTV and other monitoring systems, was admitted to trading on AIM, a market operated by the London Stock Exchange, in 2005.
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21st Century is the preferred supplier of on-board CCTV systems for Arriva UK Bus, FirstGroup UK Bus and Keolis Sverige AB in Stockholm.
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The Company has pioneered the use of WiFi with on-board CCTV systems and Transport for London commissioned the Company to undertake a trial of 'LiveView' - a system which transmits live CCTV pictures from on board the bus to a public transport and police control centre. 21st Century was also the first company to successfully launch Automatic Video Downloads and a bus CCTV monitoring system (HeartbeatTM) which allow the CCTV manager to remotely download CCTV footage from the bus to his computer and check that all the CCTV systems fitted to his buses are fully operational, without leaving his desk. The company's passenger counting systems utilise active infrared sensors at every exit/entry point or overhead cameras linked to the ticket machine to enable bus operators to analyse specific bus route ticket sales and passenger numbers.
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21st Century's EcoManager product has made a significant contribution to sales since its launch in July 2008. The EcoManager black-box systemΒ is aimed at reducing fuel and maintenance costs, reducing emissions andΒ improving safety for bus operators by monitoring individual driving styles. Following a successful trial in 2009, Arriva UK committed to install the device on all their new buses and to retrofit a large proportion of their existing fleet. Later that year Arriva North West and Merseytravel won the industry recognised Alexander Dennis Award for Innovation following their installation of the EcoManager system which yielded fuel savings of up to 12%, associated CO2 emission reductions and a 62% reduction in accidents. This was followed in 2010 with a driver safety award for EcoManager presented by the road safety charity, Brake and in 2011; Arriva Wirral was presented with the Environmental Award by Wirral Investment Network in recognition of the environmental benefits achieved by the company as a result of the installation of EcoManager to its fleet of buses. For further information go to www.getecomanager.com.
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