Servelec Group Regulatory News (SERV)

2 Jul 2007 13:31

Servocell Group PLC02 July 2007 SERV.L Servocell Group plc ("Servocell" or the "Company") Appointment of Interim Chief Financial Officer Servocell Group plc announces the appointment of Stephen Russell as interimChief Financial Officer due to the sudden ill health of Steve Weaver. Stephenwill be working on a consultancy basis and will report direct to the main Board. Stephen Barrie Russell (58) brings a wealth of experience gained ininternational business in a variety of senior financial and general managementpositions with Coats plc spanning 25 years. He is a director of DawsonInternational plc, the luxury cashmere and branded bedlinen group. He has alsoheld directorships with Patons Limited, Dorma Group Limited, Corah Limited,Corah Property Management Limited, Coats Shelfco Precision Limited (previouslyPrecision Processes Textiles Limited), and Morrison McConnell Limited. Stephenis a Fellow of the Institute of Chartered Accountants in England & Wales. For further information please contact: Mike HartleyExecutive Chairman, Servocell Group plc 01279 621 500 Gregor PatersonAnalyst, Brewin Dolphin Investment Banking 0845 213 4211 Jon FitzpatrickCorporate Finance, Brewin Dolphin Investment Banking 0845 213 4222 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