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23 Dec 2020 07:00
Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.
23 December 2020
The 600 Group Plc
("600 Group" or "the Group")
Directorate Change
Further to the announcement of the Group restructure announced in the Annual Report in November 2020 and the opening of an office in Orlando, Florida, the Board announces that Neil Carrick, CFO, after deciding that for personal reasons he will be unable to relocate to Orlando, leaves 600 Group today.
G. Mitchell (Mitch) Krasny, CPA, formerly CFO of technology companies, Ucell and Kcell, subsidiaries of Telia Company, Bulgaria Telecom, TV 3 Russia and CFO Eastern Europe and Russia for Millicom and Metromedia International succeeds Neil and is today appointed a CFO of the Company and will join the board with immediate effect.
Commenting on the board changes Paul Dupee, Chairman of 600 said:
"Neil joined the business in 2011 and has made a great contribution since his arrival, particularly in overseeing the buyout of the UK pension scheme and strengthening the Group's financial position. We wish Neil well for the future. We are delighted to have recruited Mitch who brings over 35 years of financial and operational experience in public and private Companies."
Additional disclosure information
Save for the information in this announcement, there are no further disclosures to be made in accordance with Schedule Two (g) of the AIM Rules for Companies in respect of the appointment of G. Mitchell (Mitch) Krasny.
In addition to his appointment to the Board, G. Mitchell (Mitch) Krasny, aged 60, holds or has held the following directorships or partnerships in the past five years:
Current Directorships: | Previous Directorships: |
Russia Sphere, Inc. (Director) | Mentalus Co Limited (Director) |
Mr Krasny does not hold any shares in the Company.
There is no further information required to be disclosed in respect of the above appointment pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies.
Enquiries:
The 600 Group PLC Paul Dupee, Executive Chairman
| Tel: 01924 415000 |
Instinctif Partners Mark Garraway Rosie Driscoll | Tel: 0207 457 2020 |
Spark Advisory Partners Limited (NOMAD) Matt Davis
| Tel: 020 3368 3553 |
WH Ireland (Broker) Harry Ansell | Tel: 020 7220 1666 |
About The 600 Group PLC
The 600 Group PLC is a distributor, designer, and manufacturer of industrial products with three principle areas of activities:
Machine Tools
The business has a strong reputation in the market for metal turning machines. Products range from small conventional machines for education markets, CNC workshop machines and CNC production machines. Selected outsourcing partners support the manufacturing of these machines and they are marketed through the Group's wholly owned international sales organisation and a global distribution network.
Precision Engineered Components
Machine spares are distributed to customers globally to help maintain the installed base of group machines which number in excess of 100,000. Additionally, work holding products are sold via specialist distributors to OEMs, including other machine builders.
Industrial Laser Systems
Industrial laser systems cover laser marking and processing including cutting, drilling, ablation and a host of other niche applications in the marking and micro machining sectors. They require no consumables, can operate on a continuous high-speed basis and can be integrated into customers' production lines. The businesses have their own technology and proprietary software. Customer applications are diverse and range from aerospace to medical and pharmaceuticals. The requirement for increased product and component traceability is one of the market drivers.
More information on the Group can be viewed at: www.600group.com
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