10 Jul 2020 07:00
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
10 July 2020
Remote Monitored Systems plc ("Remote Monitored Systems", the "Company" or the "Group")
Board changes
The Company announces the following Board changes:
Nigel Burton, Non‐Executive Chairman of the Company, has retired from the Board, effective immediately, to pursue other opportunities. Nigel has agreed to continue to provide support to the Company on a consultancy basis for as long as is necessary to ensure a smooth transition.
Paul Ryan, Non-Executive Director, becomes Non‐Executive Chairman.
The Board has also appointed John Richardson, a Director of GyroMetric Systems Limited ("GyroMetric"), the Group's 58% owned subsidiary, as Chief Operating Officer. John will take Nigel's place on the Audit and Remuneration committees and will also be responsible for the executive finance function of the Group.
The Board will continue to keep the appointment of an additional non-executive director under consideration.
Paul Ryan, Non‐Executive Chairman, said:
"The Board would like to thank Nigel, who joined the Board in January 2018, for his contribution and wishes him well in his other ventures. John's promotion reflects his increased role over the past year in supporting the Group in addition to his ongoing responsibilities at GyroMetric."
Regulatory Disclosures
The following disclosures are required regarding John Charles Richardson's appointment pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies:
Current directorships and/or partnerships: | Former directorships and/or partnerships (within the last five years):
|
Geocurve Limited Gyrometric Systems Limited Champagnewebs Limited
| Latona Limited Tenantpro Limited |
John, aged 60, has no direct or indirect interest in the Company's ordinary shares.
No further disclosure is required pursuant to AIM Rule 17 and paragraph (g) to Schedule Two of the AIM Rules for Companies.
- ENDS -
ENQUIRIES:
Remote Monitored Systems plc
Trevor Brown (Executive Director) +41 7941 55384
Paul Ryan (Non-Executive Chairman) +44 7785 234447
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and Joint Broker
Stuart Gledhill
Caroline Rowe
Peterhouse Corporate Finance +44 20 7469 0930
Joint Broker
Lucy Williams
Fungai Ndoro