Directorate Change/ Holding

7 Apr 2005 07:00

Croma Group PLC07 April 2005 FOR IMMEDIATE RELEASE 7 APRIL 2005 CROMA GROUP PLC ("Croma" or "the Company") DIRECTORATE CHANGES & DIRECTORATE SHAREHOLDING Croma, the specialists in the design, development and production of overt andcovert surveillance and defence related products, updates shareholders on thefollowing Board changes and Directorate shareholdings. The Company is pleased to announce today the appointment of Mr Nicholas Hewson,an early shareholder in Croma, to the Board as non-executive director withimmediate effect. Nick Hewson, well known for the success he achieved atGrantchester in the field of out-of-town shopping centres, and an entrepreneurwith a variety of business interests, brings to the Board a wealth of pertinentexperience and contacts. The Board also announces that newly appointed Nick Hewson has increased hisholding in the Company by 604,342 ordinary shares, at 6p per share, bringing hisholding to a total of 1,024,119 ordinary shares, representing 1.07% of theissued share capital of Croma. London & Boston Investments has today advised the Board that it no longer has aninterest in the Company, and therefore Mr John May will step down from hisposition as a non-executive director with immediate effect. Today's news follows the Company's March Interim Results, where it announcedincreases in sales (1,600% higher on corresponding period last year), turnover(42% up on full financial year), significant contract wins and a healthy newproduct development pipeline. Commenting on the announcement, John French, Chairman and Chief Executive ofCroma said: "I am delighted to welcome Nick to the Board, and to see hisincreasing interest in our activities. He has a wealth of experience and,certainly, his knowledge will be of great importance to a number of ouractivities - particularly Shawley Products, the CCTV division of Croma DefenceSystems Limited. I would also like to take this opportunity to thank John Mayfor his contribution to the Company, and wish him well in the future". --ENDS-- Enquiries: Croma Group plcJohn French, Chairman & Chief Executive Mobile: 07836 722 482 Bishopsgate Communications Ltd. Tel: 020 7430 1600Maxine Barnes Mobile: 07860 489 571Dominic Barretto Mobile: 07930 450 156 This information is provided by RNS The company news service from the London Stock Exchange