Last checked at 3 Aug 2015 07:00
Petards Group plc ('Petards' or 'the Company')
Directorate Change
In accordance with AIM Listing Rule 17 Petards Group plc, the AIM quoted developer of advanced security and surveillance systems, today announces that effective on 30 November 2015, Andy Wonnacott has decided to step down as Group Finance Director and Company Secretary and will retire from the Board.
Andy joined the Company as Group Finance Director in March 2005 and throughout his tenure has worked closely with the former CEO, and for the past two years with the current Chairman, Raschid Abdullah. Andy led the organisation through a period of substantial change and financial restructuring and also led the commercial negotiations with several major international train building companies thereby greatly helping the Group to establish itself in this area.
Commenting, Raschid Abdullah, Petards Chairman said;
"Throughout his ten years with Petards, Andy has been a valued and committed member of the main board and management team. His intimate knowledge of the business and his professionalism has been a great help in Petards' reorganisation.
"He leaves the Company in good shape and well positioned for the next phase of its development.
"On behalf of the Board and everyone at Petards, I thank Andy for his outstanding contribution to the Group, given at times against a background of challenging circumstances, and wish him every success in his new endeavours."
**ENDS**
For further information:
Petards Group plc | www.petards.com |
Raschid Abdullah, Chairman | Mb: 07768 905 004 |
Andy Wonnacott, Finance Director | Tel: 0191 420 3000 |
WH Ireland Limited, Nomad and Joint Broker | www.wh-ireland.co.uk |
Mike Coe, Ed Allsopp | Tel: 0117 945 3470 |
Hybridan LLP, Joint Broker | www.hybridan.com |
Claire Louise Noyce | Tel: 020 3764 2341 claire.noyce@hybridan.com |
St Brides Partners Ltd | www.stbridespartners.co.uk |
Elisabeth Cowell, Charlotte Heap | Tel: 020 7236 1177 |
Notes for Editors
Petards is a cash generative global supplier of products to original equipment manufacturers ('OEMs'), system integrators and end users in the rail, security and defence markets in new build, refurbishment and retrofit applications. The Company delivers ruggedised electronic solutions including video and sensor data surveillance, radio communications and threat simulation systems on mobile platforms. Petards offers a range of services, supporting its own and third party systems, spanning custom development, manufacturing, commissioning, maintenance and obsolescence management. Further information on its three product areas is included below:
Transport
Petards' market-leading eyeTrain technology provides leading edge products for on-board train video and sensing solutions, including Driver Only Operation Systems, Passenger Counting Systems, Saloon and Drivers View Video and Condition Based Monitoring. These systems have been chosen for installation on thousands of rail vehicles around the globe, helping to reduce operating costs, increase safety and improve passenger satisfaction.
Emergency Services
Petards' ProVida is one of the world's leading in-car police speed detection, surveillance and ANPR (Automatic Number Plate Recognition) brands, comprising four components: In-Car Video, Speed Enforcement, ANPR Systems and ANPR cameras. As well as Petards' systems being used by many of the UK's police forces, the brand has stretched to over 20 countries.
Defence
Petards provide a range of specialist engineering services to the defence sector. The Company has established a strong reputation for being a responsive, flexible and reliable partner in delivering challenging military programmes. Petards excels in the disciplines of Communications and Information Systems, Electronic Countermeasure Systems, Ruggedised Electronic Control Systems and in the provision of Engineering Services to UK MoD and other NATO countries.