21 Dec 2015 07:00
21 December 2015
Manx Telecom Plc
Appointment of new CFO
Manx Telecom Plc (AIM:MANX), the leading communication solutions provider on the Isle of Man, is pleased to announce the appointment of Danny Bakhshi as Chief Financial Officer (CFO). Danny joins from Virgin Media, where he has been Executive Commercial Director since 2013. With over 25 years of industry experience, Danny previously held a CFO role at Vodafone Global Enterprise Services for five years, before becoming Managing Director of Vodafone Global Enterprise Africa. He has also spent a number of years working in various finance roles at British Telecom.
Danny is expected to join the Company on 1 February and is expected to be appointed to the Board on the same day.
There is no further information that is required to be disclosed in accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules.
Gary Lamb, CEO said:
"Danny brings with him genuine industry expertise and a track record of leading finance functions in the telecoms sector. He will be an outstanding addition to our senior management team. Attracting someone of Danny's calibre is testament to the business Manx Telecom has become. We now have a reputation for market leading customer service and innovation, combined with an exciting outlook for growth, as we look to build on our highly cash generative stable core business on-island and capitalize on the growth opportunities presented off island, not least in our Global Solutions business. We very much look forward to working with him."
Danny Bakhshi added:
"I am delighted to be joining Manx Telecom which already benefits from well invested, reliable existing infrastructure, a highly experienced workforce and a really strong management team. Their reputation for service and innovation is well known in the sector but what is also clear to me is the real potential for growth inside the business, both on and also off-island. I believe this is an exciting time for Manx Telecom and I very much look forward to working with Gary and his senior team to help take the Company to the next level."
-Ends-
For further enquiries, please contact:
Manx Telecom plc | +44 (0) 1624 636400 |
Gary Lamb, CEO
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Liberum Capital (Nominated Adviser and Corporate Broker) | +44 (0)20 3100 2000 |
Steve Pearce Steve Tredget
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Oakley Capital (Financial Adviser) | +44 (0) 20 7766 6900 |
Christian Maher Victoria Boxall
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Powerscourt Group (Public Relations) | +44 (0) 20 7250 1446 |
Juliet Callaghan Peter Ogden Simon Compton Hattie O'Reilly |
About Manx Telecom
§ Manx Telecom is the leading communication solutions provider on the Isle of Man, offering a wide range of fixed line, broadband, mobile, and data centre services to businesses, consumers and the public sector on the Isle of Man as well as a growing portfolio of innovative hosting and "Smart SIM" solutions to off-Island customers.
§ Manx Telecom has a record of innovation, being the first European operator to launch a 3G mobile service and the first in the world to launch a 3.5G mobile service. 4G service launched in the summer of 2014, and it is now available to contract and pre-pay customers with 99% population coverage. The Company's high speed VDSL broadband service (Ultima) is available to 87 per cent of homes on the Island. A VDSL Plus service launched in February 2015.
§ The Company has three data centres (two of which are Tier 3) plus international connectivity and its operations are business-critical to the economic strategy of the Isle of Man.
§ One of the largest employers on the Island, Manx Telecom employs nearly 300 people. The company plays a major role in the wider community through a range of activities, including charitable donations, sponsorships, and corporate social responsibility initiatives.
§ The company is proud to sponsor the Manx Telecom Parish Walk, Tough Mann Adventure Challenge, Manx Telecom End2End Mountain Bike Challenge, Team Manx Telecom (Manx Road Club) and Royal Manx Agricultural Show as well as other smaller events. Manx Telecom also donates annually to local causes through the company's "It's our Community" programme.
§ The Isle of Man has a resilient and growing economy which has experienced 29 years of unbroken GDP growth. Unemployment is low at 2.0 per cent, and there is a zero per cent corporate tax rate which applies to the vast majority of Manx Telecom's business and means that the Group currently pays no corporation tax on its annual profits.
§ Manx Telecom is listed on the Alternative Investment Market of the London Stock Exchange with the ticker MANX.