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Pin to quick picksPressure Tech Regulatory News (PRES)

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Board Appointments

21 Mar 2023 07:05

RNS Number : 5981T
Pressure Technologies PLC
21 March 2023
 

21 March 2023

Pressure Technologies plc

("Pressure Technologies" or "the Company")

Board Appointments

Pressure Technologies plc, (AIM: PRES), the specialist engineering group, announces that Richard Staveley will be appointed as a Non-Executive Director of the Company following the publication of its Annual Report & Accounts for the financial year ended 1 October 2022, which the Company currently expects to be no later than the end of April 2023.

Richard is a qualified accountant who has over twenty years' experience of equity investing, fund management and working with both private and publicly quoted companies. Having qualified as a Chartered Accountant at PricewaterhouseCoopers, Richard has worked in a senior capacity and fund manager at a number of successful fund management businesses, including Majedie Asset Management and was a co-founder of River and Mercantile Asset Management. He is a Chartered Financial Analyst (CFA) Charterholder and holds a Bachelor of Arts degree in politics from the University of Newcastle. Richard is a Non-Executive Director of AIM quoted Bonhill Plc, and Centaur Media plc, a company listed on the main market of the London Stock Exchange.

Richard Staveley is a consultant to Harwood Capital LLP ("Harwood"), the investment manager of Rockwood Strategic plc, which holds 20.04 percent of the Company's issued share capital, and is being appointed as a representative of Harwood pursuant to a Relationship Agreement between the Company, Harwood and the Company's nominated adviser. The primary purpose of the Relationship Agreement is to ensure that the Company is capable of carrying on its business independently at all times. In accordance with the terms of the Relationship Agreement, Mr Staveley shall be entitled to remain on the Board of Directors of the Company provided that Harwood retains an aggregate interest of at least 10% of the Company's issued ordinary share capital.

On 17 January 2023, the Company announced the appointment of Steve Hammell as Chief Financial Officer, which was expected to be in the second quarter of this calendar year. The Company now confirms that Steve will join the Company as a Director in May 2023.

Further announcements will be made regarding the appointment dates for both Directors in due course, as appropriate.

Nick Salmon, Chair of Pressure Technologies, commented on the appointments:

"We are appreciative of the support the Company has from key shareholders and Richard's appointment further demonstrates this. We are delighted that Richard will be joining the Board and believe his knowledge of the business and considerable investment experience will be invaluable.

We are pleased that Steve will also be joining the Board, where his considerable financial knowledge and industry experience will contribute significantly to the development of the business."

Regulatory disclosures

In accordance with Schedule 2(g) of the AIM Rules for Companies, Richard Adam Staveley (aged 48) is, or has been within the previous five years, a director or partner of the following companies or partnerships:

Current directorships/partnerships

Past directorships/partnerships

Wildblood Ltd

Centaur Media plc

Bonhill Plc

 

None

Richard Staveley does not have any beneficial interest in the Company's issued share capital. There is no further information to be disclosed pursuant to Schedule 2(g) of the AIM Rules for Companies.

Regulatory disclosures for Steve Hammell were made in the Company's announcement on 17 January 2023.

For further information, please contact:

Pressure Technologies plc

Chris Walters, Chief Executive

 

Tel: 0330 015 0710

PressureTechnologies@houston.co.uk

Singer Capital Markets (Nomad and Broker)

Rick Thompson / Asha Chotai

Tel: 0207 496 3000

Houston (Financial PR and Investor Relations)

Kay Larsen / Ben Robinson

Tel: 0204 529 0549

COMPANY DESCRIPTION

 www.pressuretechnologies.com

With its head office in Sheffield, the Pressure Technologies Group was founded on its leading market position as a designer and manufacturer of high-integrity, safety-critical components and systems serving global supply chains in oil and gas, defence, industrial and hydrogen energy markets.

The Group has two divisions, Chesterfield Special Cylinders and Precision Machined Components.

Chesterfield Special Cylinders (CSC) - www.chesterfieldcylinders.com

● Chesterfield Special Cylinders, Sheffield, includes CSC Deutschland GmbH.

Precision Machined Components (PMC) - www.pt-pmc.com

● Precision Machined Components includes the Al-Met, Roota Engineering and Martract sites.

 

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Date   Source Headline
26th Mar 20197:00 amRNSHolding(s) in Company
6th Mar 201911:53 amRNSUpdate on HSE Case - Not Guilty Plea Submitted
28th Feb 20195:14 pmRNSHolding(s) in Company
12th Feb 201912:15 pmRNSResult of AGM
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1st Feb 20197:00 amRNSUpdate on the proposed sale of Greenlane Biogas
16th Jan 20198:00 amRNSPublication of Annual Report and Notice of AGM
11th Dec 20187:00 amRNSFinal Results
10th Dec 20187:00 amRNSProposed sale of Greenlane Biogas
8th Oct 20183:54 pmRNSHolding(s) in Company
4th Sep 20187:00 amRNSDirector/PDMR Shareholding
20th Aug 20184:28 pmRNSPurchase of shares by a Director
17th Aug 20187:00 amRNSDirector/PDMR Shareholding
9th Aug 201812:23 pmRNSHolding(s) in Company
31st Jul 201811:45 amRNSDirector/PDMR Shareholding
31st Jul 20187:00 amRNSBoard Changes
27th Jul 20187:30 amRNSGrant of Share Options
24th Jul 201812:06 pmRNSHolding(s) in Company
3rd Jul 20184:48 pmRNSPurchase of shares by Directors
12th Jun 20187:00 amRNS2018 Interim Results
7th Jun 20184:45 pmRNSSale of Hydratron Limited
30th May 20187:00 amRNSTrading Update
16th Apr 201812:02 pmRNSHolding(s) in Company
13th Feb 20181:05 pmRNSResult of AGM
8th Feb 20187:00 amRNSDirectorate Change
8th Jan 20183:12 pmRNSPublication of Annual Report and Notice of AGM
12th Dec 201711:05 amRNSSecond Price Monitoring Extn
12th Dec 201711:00 amRNSPrice Monitoring Extension
12th Dec 20177:00 amRNSFinal Results
7th Nov 20174:30 pmRNSDirectors Shareholdings
7th Nov 20171:01 pmRNSHolding(s) in Company
3rd Nov 201712:31 pmRNSResult of General Meeting
16th Oct 20174:40 pmRNSSecond Price Monitoring Extn
16th Oct 20174:35 pmRNSPrice Monitoring Extension
16th Oct 20173:00 pmRNSResult of Oversubscribed Placing
16th Oct 20178:00 amRNSProposed Placing
21st Sep 201712:24 pmRNSHolding(s) in Company
31st Aug 20177:00 amRNSTrading Update
13th Jun 20177:00 amRNSHalf-year Report
30th Mar 20173:47 pmRNSDirector Declaration
16th Mar 20171:28 pmRNSExercise of Options
27th Feb 20173:16 pmRNSDirector/PDMR Shareholding
16th Feb 201712:42 pmRNSExercise of Options
14th Feb 20171:08 pmRNSResult of AGM
31st Jan 201710:19 amRNSExercise of Options
6th Jan 20179:25 amRNSNotice of AGM
22nd Dec 201610:25 amRNSPublication of Annual Report
13th Dec 20167:00 amRNS2016 Audited Preliminary Results
8th Dec 20167:00 amRNSAcquisition of Martract Limited
6th Dec 201610:11 amRNSNotice of Results

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