Parkmead Regulatory News (PMG)

22 Dec 2009 10:37



THE PARKMEAD GROUP PLC 

("Parkmead" or the "Company")

Directorate changes

The Board of Parkmead (the "Board") wishes to announce that Mr John Leggate, Non-executive Director, and Mr Gordon Ashworth, Finance Director, will be stepping down from the Board. In the case of Mr John Leggate this is with immediate effect. In the case of Mr Gordon Ashworth this will be with effect from 1 February 2010.

John Leggate has acted as a Director during a period of significant change in the Group and the recent acquisition of Aupec. He will continue to play a role within the group in an advisory capacity. 

Gordon Ashworth will be leaving in order to pursue his career in start up and early stage businesses.

The Board also wishes to announce the appointment of Mr Donald MacKay as Executive Finance Director with effect from 1 February 2010. Donald is currently Managing Director of Aupec Limited.  He formerly held senior international finance and operational positions with Unocal Corporation (now part of Chevron). A Chartered Accountant, he is a corporate accounting, finance and treasury specialist with over 30 years experience in the energy sector. He has extensive international work experience having worked in South East Asia, the Middle East and Africa as well as the US and the UK.

Donald is also a non-executive member of the Board of MG ALBA a public sector body responsible for funding and broadcasting Gaelic language television. 

Donald holds 1,529,473 shares in the Company being 0.25% of its issued share capital.

Save as disclosed, there is no further information to disclose in respect of Donald MacKay under Schedule 2 paragraph (g) of the AIM Rules.

Commenting, Chairman of the Group, Colin Goodall, said:

"John and Gordon have contributed much to the Group and I would like to take the opportunity of thanking them for their time and endeavour over the past few years. The Board is also delighted that Donald is joining the Board and looks forward to working with him in the development of the Group" 

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