Last checked at 8 Oct 2020 07:00
8 October 2020
Kromek Group plc
("Kromek" or the "Group")
Appointment of Non-executive Director
Kromek (AIM: KMK), a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, announces the appointment of Mr Rakesh Sharma OBE as a Non-executive Director of the Group with immediate effect.
Mr Sharma, aged 59, is a former FTSE 250 CEO with 20 years' experience in running international hi-tech engineering and manufacturing businesses. He was instrumental in the growth of Ultra Electronics Holdings plc, the LSE-listed group that specialises in providing engineering solutions for mission-critical systems in the defence, security, critical detection and control markets. Having joined at its formation in 1993, Mr Sharma presided over significant revenue and profit growth across multiple director-level and divisional roles, including in North America, latterly serving for six years as CEO. He began his career in 1983 in the military radio division of Marconi Communication Systems Ltd. In 1989, he joined Dowty Group as a chief engineer before it was acquired by TI Group in 1992, which a year later became Ultra Electronics Holdings following a management buy-out.
Since 2017, Mr Sharma has sat on the Board of LSE-listed PayPoint plc, a provider of omnichannel payments solutions and EPoS-enabled technologies, where he serves as Senior Independent Director. He also supports a range of small businesses and entrepreneurs in a non-executive capacity. Mr Sharma was elected as a Fellow of the Royal Academy of Engineering in 2016 and was honoured in the 2017 Queen's Birthday Honours List with an OBE for services to defence capability.
Sir Peter Williams CBE, Chairman of Kromek, said: "I am delighted to welcome Rakesh to the Board of Kromek. Throughout a distinguished career in global technology and engineering businesses, Rakesh has successfully channelled innovation to deliver growth and create value. In particular, he brings significant experience in the security and defence sector, which is a key market for Kromek. We look forward to benefiting from his considerable expertise as we continue to advance our business."
Rakesh Sharma OBE said: "I am delighted to be joining Kromek, a growing and ambitious company which is developing important products to help safeguard lives and property as well as, through early diagnosis, improve outcomes of people suffering from debilitating illnesses. I will bring my extensive experience in the security and defence sector to help and assist wherever I can. This is an exciting challenge for me personally and I look forward to working with the Board and making a real contribution to the success of this dynamic company."
Other than as set out below, there are no other matters required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies as regards Mr Sharma's appointment. Mr Sharma does not hold any shares in the Group.
Active Directorships:
ARTEMIS SOLUTIONS GROUP LIMITED (07418955) |
BANG CURRY LIMITED (07932659) |
HOLMES NOBLE CONSULTING LIMITED (12435536) |
HOLMES NOBLE INTERIM LIMITED (10709395) |
HOLMES NOBLE LIMITED (05323385) |
INKWELL DATE LIMITED (630139) |
PAYPOINT PLC (03581541) |
SHARMA CAPITAL PARTNERS LTD (11705458) |
SIDNEY STRINGER MULTI ACADEMY TRUST (06672920) |
Directorships held within the last five years:
AARDVARK ELECTRONIC COMPONENTS LIMITED (SC099277) |
AEP NETWORKS LIMITED (04479308) |
AUDIOSOFT LIMITED (03009992) |
AUDIX BROADCAST LIMITED (06344805) |
BLUE SKY GROUP (INTERNATIONAL) LIMITED (04322751) |
CORVID HOLDINGS LIMITED (FC034202) |
CORVID PROTECT HOLDINGS LIMITED (FC034204) |
DF GROUP LIMITED (03574242) |
EW SIMULATION TECHNOLOGY LIMITED (03155211) |
EXTEC INTEGRATED SYSTEMS LIMITED (02992812) |
FERRANTI AIR SYSTEMS LIMITED (03061216) |
GIGA COMMUNICATIONS LIMITED (05068503) |
PAYGATE SOLUTIONS LIMITED (FC034203) |
POWER MAGNETICS AND ELECTRONIC SYSTEMS LIMITED (02984371) |
TRANSMAG POWER TRANSFORMERS LIMITED (04010087) |
UE DORMANT ONE (01332065) |
ULTRA ELECTRONICS (NETHERLANDS) LIMITED (10317509) |
ULTRA ELECTRONICS AEP PAYMENTS LIMITED (07517674) |
ULTRA ELECTRONICS AEP TECHNOLOGY LIMITED (05206886) |
ULTRA ELECTRONICS ENTERPRISES (USA), LLC (FC027728) |
ULTRA ELECTRONICS HOLDINGS PLC (02830397) |
ULTRA ELECTRONICS JERSEY UNLIMITED (FC028009) |
ULTRA ELECTRONICS LIMITED (02830644) |
ULTRA ELECTRONICS SWISS HOLDINGS COMPANY LIMITED (10390613) |
VADOS SYSTEMS LIMITED (05178688) |
VARISYS LIMITED (04083768) |
W & D HOLDINGS LIMITED (04645977) |
WOOD & DOUGLAS LIMITED (02844692) |
For further information, please contact:
Kromek Group plc | |
Arnab Basu, CEO Derek Bulmer, CFO
| +44 (0)1740 626 060 |
Cenkos Securities plc (Nominated Adviser and Broker) | |
Max Hartley (NOMAD) Julian Morse (Sales)
| +44 (0)20 7397 8900 |
Luther Pendragon (PR) | |
Harry Chathli Claire Norbury Alexis Gore Joe Quinlan | +44 (0)20 7618 9100 |
About Kromek Group plc
Kromek Group plc is a technology group (global HQ in County Durham) and a leading developer of high performance radiation detection products based on cadmium zinc telluride ("CZT") and other advanced technologies. Using its core technology platforms, Kromek designs, develops and produces x-ray and gamma ray imaging and radiation detection products for the medical, security screening and nuclear markets.
The Group's products provide high resolution information on material composition and structure and are used in multiple applications, ranging from the identification of cancerous tissues to hazardous materials, such as explosives, and the analysis of radioactive materials.
The Group's business model provides a vertically integrated technology offering to customers, from radiation detector materials to finished products or detectors, including software, electronics and application specific integrated circuits ("ASICs").
The Group has operations in the UK and US (California and Pennsylvania), and is selling internationally through a combination of distributors and direct OEM sales.
Currently, the Group has over one hundred full-time employees across its global operations. Further information on Kromek Group is available at www.kromek.com and
https://twitter.com/kromekgroup.