APC Technology Group PLC Board Appointment and New Subsidiary (6791C)
January 21 2015 - 02:00AM
UK Regulatory
TIDMAPC
RNS Number : 6791C
APC Technology Group PLC
21 January 2015
APC Technology Group PLC ("APC" or the "Group")
Board Appointment and New Subsidiary
APC Technology Group PLC (AIM: APC), the provider of
technologies and services intended to help improve organisational
sustainability and specialist distributor of electronic components,
is pleased to announce that it has appointed Mr Andrew Shortis to
its board of directors, as Managing Director of Minimise Holdings
Limited, the company which holds the entirety of APC's
sustainability-related businesses, with immediate effect and has
created a new subsidiary, Minimise Generation Limited.
Mr Shortis brings with him a wealth of energy, environmental and
corporate finance experience; particularly in the fields of
energy-efficiency, renewable energy, and demand side
management.
In his previous roles, Mr Shortis worked closely with private
and public sector bodies to encourage the take-up of projects to
reduce energy consumption and simplify procurement. He has
experience developing, financing and delivering multi-million pound
energy efficiency contracts for European and US multinational
organisations, managing projects involving a range of energy-saving
technologies and putting together funding solutions both on and off
balance sheet.
In line with its strategy to build a complete, end-to-end
sustainability offering for organisations, the Group is also
pleased to announce the creation of Minimise Generation Limited,
which will be wholly owned by Minimise Holdings Limited. This new
subsidiary will serve as the Group's on-site renewable generation
offering, alongside Minimise Energy, Minimise Water, Minimise
Solutions and Minimise Finance. Minimise Generation will offer
photovoltaic thermal (PV-T) panel technology in combination with
other renewable technologies, including heat pumps, which enable
customers achieve potentially significant cost savings through the
conversion of both light and heat to energy for use on-site.
The Board is pleased to report that good progress continues to
be made in all areas of the business, including the relationship
with the UK's largest logistics company, Royal Mail Group, which
commissioned the Group in late 2014 to help identify energy
reduction opportunities across the highest energy-consuming sites
within the Royal Mail Estate.
The Group's results for the year ended 31 August 2014 will be
announced on 22 January 2015.
Mark Robinson, Chief Executive Officer of APC Technology Group,
commented:
"The appointment of Andrew Shortis brings further significant
experience in the sustainability sector to the Board. His knowledge
of the financing of energy-related projects will be of particular
value to us, as we consider this to be a critical element of the
Group's long-term strategy. We see Andrew's appointment, along with
creation of Minimise Generation Limited, as being very positive
steps forward in delivering on our strategy of building a portfolio
of expertise and intellectual property within the Group, and look
forward to continuing to grow and improve our offering to help our
expanding customer base better manage the overall sustainability of
their built estates."
The information included below is required under Schedule Two
Part (g) of the AIM Rules for Companies:
Andrew Peter Shortis (aged 55)
Directorships:
Past Directorships/Partnerships
Current Directorships/Partnerships (last 5 years)
Berry Birch & Noble Insurance
Tin Duck Limited Brokers Ltd
Joule Funding Limited BBB City plc
Berkeley Berry Birch plc
BBB Network Limited
Berry Birch & Noble Financial Planning
Limited
Mr Shortis, who had previous experience and expertise in
corporate recovery and turnaround, was appointed as Group Managing
Director of Berkeley Berry Birch plc and several of its
subsidiaries in November 2005, when the company and certain of its
subsidiaries were facing serious financial and regulatory
problems.
Mr Shortis turned around the business, but when an institutional
refinancing led by two other Directors failed, he sold the trade of
Berkeley Berry Birch plc and certain of its regulated subsidiaries
to maximise the funds available for creditors and placed these
businesses into administration in March 2006 with a deficiency to
creditors of GBP25.9m. Mr Shortis continued, working with KPMG and
PwC the administrators of the various Group companies. The company
was subsequently placed into liquidation and while this process is
on-going, secured creditors have been paid in full while unsecured
creditors are expecting a dividend of 65p in the pound.
Of the subsidiaries of Berkeley Berry Birch plc that were also
placed into administration:
1. Berry Birch & Noble Financial Planning Limited was placed
into administration in 2006 with a deficiency to creditors of
GBP1.2m. The administration is on-going.
2. Berry Birch & Noble Insurance Brokers Ltd was placed into
administration in 2006 with a deficiency to creditors of GBP3.1m.
Mr Shortis led the sale of the subsidiary and it came out of
administration in 2007 and was wound up voluntarily in 2011.
3. BBB City plc was placed into administration in 2007 with no
deficiency to creditors. Mr Shortis led the sale of the subsidiary
and it underwent a creditors voluntary liquidation in 2011.
4. BBB Network Limited was placed into administration in 2006
with a GBP3.6m deficiency to creditors. The administration is
on-going.
There is no further information to be disclosed pursuant to
Schedule Two Part (g) of the AIM Rules for Companies.
Enquiries:
APC Technology Group plc 01634 290588
Mark Robinson, Chief Executive www.apc-plc.co.uk
Officer
Strand Hanson Limited (Nominated
Adviser) 020 7409 3494
James Harris / Angela Hallett / Ritchie Balmer
Northland Capital Partners
Limited (Broker) 020 7382 1100
John Howes / Alice Lane
Redleaf Polhill (Financial
PR) 020 7382 4730
Rebecca Sanders-Hewett / apc@redleafpr.com
David Ison
This information is provided by RNS
The company news service from the London Stock Exchange
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