Servelec Group Regulatory News (SERV)

4 May 2007 07:00

Servocell Group PLC04 May 2007 Directorate Change Servocell plc ("the Company") announces the appointment of Francisco Manuel Lopez, as Sales and Marketing Director with immediate effect. Francisco (aged 49) has, since joining in December 2006, served as Servocell Limited's sales and marketing director. Francisco has significant sales and marketing experience including senior roles at De La Rue, Currency Software Solutions, Banking Automation Limited and most recently at Dione, a leading UK supplier of Point of Sale solutions for Chip and PIN verification. Francisco has played a key role in driving Servocell's successful 'ready to go' sales strategy as well as profiling the Company's technology to the global locks market, which is building a strong sales pipeline. He has the following interests in the share capital of the Company: Share capital: 27,500 1p Ordinary shares Share options: 366,974 1p Ordinary shares granted at 54.5p on 1st December 2006,which are exercisable between 31st December 2009 and 1st December 2016 subjectto the achievement of performance targets. Francisco is also a director of Servocell Limited and has not held any other directorships in the past 5 years. There is no other information that is required to be disclosed under Schedule 2 paragraph (g) of the AIM Rules. Simon Powell, CEO of Servocell commented on the appointment:- "I am delighted to welcome Francisco to the Board where he will continue to provide our business with his significant sales and marketing experience. We continue to market our technology to the global lock market very successfully, as demonstrated by our recent Hafele contract win, and I look forward to reporting further progress in due course." For further information please contact: Simon Powell, Chief Executive Officer, Servocell Group plc 01279 621 500Steven Weaver, Chief Financial Officer, Servocell Group plc Jon Fitzpatrick, Corporate Finance (NOMAD), Bell Lawrie 0141 221 7733 Shane Dolan, Biddicks 0207 448 1000 About Servocell Servocell is a provider of Active Latch technology that controls with low energyinputs the movement or motion of mechanisms, such as locks. The Group's devicesare underpinned by piezo ceramic actuators, which are well established in manyapplications such as reversing sensors for motor vehicles. Through significantinvestment, Servocell has developed a unique low-cost methodology for creatingactuators which give relatively large movement at a low power input. The Companyhas applied this technology into modules under the Active Latch brand for saleinto lock manufacturers' products. More recently, to accelerate application of the technology, the Group has beendeveloping a range of "Ready to Go" sub-assembly products under the CabinetLatch and Active Escutcheon brands. These are being sold to both lockmanufacturers and major distributors. This information is provided by RNS The company news service from the London Stock Exchange