APC Technology Group PLC Change of Management (8135W)
August 24 2015 - 02:00AM
UK Regulatory
TIDMAPC
RNS Number : 8135W
APC Technology Group PLC
24 August 2015
24 August 2015
APC Technology Group PLC
("APC" or the "Group")
Change of Management
Following on from the pre close trading statement of 18 August
2015, APC announces the following management change.
Mark Robinson has resigned as Chief Executive Officer (CEO) and
Director of APC. The Board has appointed Richard Hodgson as CEO
with immediate effect.
The Board would like to thank Mark for his contribution over
many years and would like to wish him all the best in his future
endeavours. Mark will work as a consultant to APC with a focus on
supporting the Group with its key customer relationships.
Prior to joining APC as Chief Financial Officer and Director,
Richard was Chief Operating Officer during the turnaround of Green
Compliance plc ("Green") and at the time of the acquisition of
Green by APC in September 2014.
Richard will work closely with the Chairman and the Board on the
operational review currently being undertaken as well as the
implementation of its findings that are due to be communicated in
the late autumn.
The Board is confident in the future prospects of the Group due
to the high level of recurring revenue in the component
distribution and water businesses as well as the strength of the
sales pipeline that has been developed in the Energy business. As
we enter fiscal year 2016, Group recurring or contracted revenue
accounts for two thirds of forecasted revenue, which due to its
nature provides regular and robust cash flow.
Leonard Seelig, Chairman of APC Technology Group, commented:
"I would like to thank Mark for all of his hard work and
commitment over the years and I wish him all the best in his new
endeavours. I am confident that Richard, our new CEO, along with
the other members of the management team, will deliver the
operational and financial improvements required to re position the
Group for profit and cash generation in the new fiscal year."
Enquiries:
APC Technology Group PLC 01634 290588
Leonard Seelig, Chairman www.apc-plc.co.uk
Richard Hodgson, Chief Executive
Officer
Cantor Fitzgerald Europe Limited
(Nominated Advisor and Broker) 020 7796 8800
Andrew Craig / Will Goode (Corporate Finance)
Redleaf Communications (Financial
PR) 020 7382 4730
Rebecca Sanders-Hewett / David Ison / Susie Hudson
Notes to Editors:
Since 2009 APC has been in a process of diversification. The
distribution of specialist electronic components, which has
represented the majority of revenues since incorporation in 1982,
remains a key part of the business. But the rapid growth of
Minimise Energy, coupled with the recent acquisition of Green
Compliance has created a sustainability-focussed business that is
set to grow rapidly, with the potential to generate significant,
profitable growth for the foreseeable future.
APC's sustainability related activities are designed to offer
its clients a simple, 'one stop shop' approach to meeting their
sustainability obligations. With sustainability related consulting,
energy management, water management and project financing under one
roof the relationships required to overcome the obstacles which
have historically held up sustainability enhancing projects are
being created.
APC's electronic component distribution business, trading as
Advanced Power Components, sells specialist components into
defence, aerospace, space, transportation medical and industrial
sectors. The Group's value-add business model, centred upon the
technical experience and capabilities of the Group's sales
engineers, are of value to both clients and suppliers, for whom APC
typically acts on an exclusive basis.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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