17 Jun 2010 07:00
17 June 2010
Modern Water plc
("Modern Water" or the "Company")
Board changes
Modern Water (AIM:MWG), the owner of leading water technologies focused on addressing the scarcity of fresh water and the treatment of wastewater, announces today that Robert Clarke joins the Board as a non-executive Director with immediate effect.
Robert, aged 49, who qualified as a chartered accountant, has worked in the private equity industry for more than 20 years, first at Electra Partners and subsequently as a founding partner of Cognetas. He has extensive experience in developing and growing businesses, and will bring strategic and financial expertise to the Board of Modern Water.
At the same time, Paul Shepherd and Trevor Jones are retiring from the Board and stand down with immediate effect.
Commenting on the announcement, Neil McDougall, Executive Chairman of Modern Water said, "We are delighted to welcome Robert to the Modern Water Board. Robert is a seasoned private equity professional and has for many years performed key roles in investment, board representation and management. The Company will benefit from his extensive experience of helping growth companies move from the development phase to commercial implementation.
On behalf of the Board, I would also like to express our sincere thanks to Paul and Trevor for their valuable contributions to the early work of developing Modern Water. Their counsel has been invaluable as we grew our technology portfolio and prepared it for commercial development. I would like to take this opportunity to acknowledge their personal support over this initial development phase.
The changes we announce today reflect the fact that Modern Water is now entering a new chapter, the wholesale commercialisation of its portfolio of specialist technologies."
There are no further disclosures to be made under Schedule 2 (g) and (i) of the AIM rules.
For further information:
| Modern Water plc |
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| Neil McDougall, Executive Chairman | 07740 930303 |
| www.modernwater.co.uk |
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| HeadLand Consultancy |
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| Rachel Lankester or Tom Gough | 020 7367 5226 or 5228 |
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| Nomura Code |
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| Juliet Thompson or Phil Walker | 020 7776 1200 |