TIDMALT

RNS Number : 5438L

Altitude Group PLC

28 April 2015

ALTITUDE GROUP PLC

("Altitude", the "Company" or the "Group")

Directorate Changes and Update

Altitude announces certain changes to the Board of the Company and a restructuring of the operations of the Group.

Board changes

Richard Sowerby, who was previously Finance Director, has been appointed Executive Chairman; Vicky Robinson, who is Managing Director of the Company's subsidiary, Trade Only Limited, has been appointed Group Managing Director and Peter Hallett has been appointed a Non-Executive Director. In addition, Martin Varley has been re-appointed to the Board in the role of Group Commercial Director.

Stephen Yapp has left the Board in order to pursue other business opportunities.

Vicky Robinson has worked for Altitude for over ten years and has most recently been responsible for the successful UK Exhibitions, Technology and Information businesses. She has an MBA from Manchester Business School and has over 20 years' experience within the markets that Altitude operates. Vicky is the beneficial owner of 652,158 ordinary shares in the Company, representing 1.5% of the issued share capital.

Peter Hallett is an experienced public company director and was until early 2014 Group Chief Financial Officer of both Redcentric plc ("Redcentric"), the AIM-quoted UK network and cloud managed service provider, and Castleton Technology plc ("Castleton"), the AIM-quoted infrastructure and network managed services provider. Castleton was previously named Redstone plc ("Redstone"), from which Redcentric was demerged in April 2013. Peter played an instrumental role in the demerger process, which was the culmination of a successful and complex turnaround of Redstone commencing on his appointment in 2009. In addition Peter was previously finance director of Texas Homecare and First Quench.

Update

The Board is in the process of implementing a restructuring of the Group's operations in order to enhance efficiency and reduce overheads. The restructuring will include a combination of business units and will result in a number of redundancies.

The Board expects that the restructuring can be achieved without an impact on levels of business and will result in a material reduction in ongoing costs.

Enquiries:

 
 Altitude Group plc 
 Richard Sowerby (Executive Chairman)         Tel: 07525 220876 
 
 WH Ireland Limited (Nominated Adviser and   Tel: 0113 394 6600 
  Broker) 
 Tim Feather 
  Liam Gribben

APPENDIX

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.

Victoria Ann Robinson, aged 39, is currently a director of the following companies:

The Advertising Products Group Limited

Boxcam Limited

Charles Franklin Limited

Customer Focus Exhibitions Limited

Promoserve Business Systems Limited

Trade Only Limited

Trade Only Technology Services Limited

Peter John Hallett, aged 57, is, or has been within the previous five years, a director of the following companies:

 
 Current                      Previous 
 
 Paradigm Global (Holdings) 
  Limited                     Caltell Communications Limited 
 Paradigm Global Services 
  (UK)                        Castleton Communications Limited 
                              Castleton Technology Plc 
                              Compass Communications Technical 
                               Services Limited 
                              Compass Telecom Limited 
                              Comunica Group Limited 
                              Dialnet Plc 
                              Essential Network Solutions Limited 
                              Fastnet Consulting Services Limited 
                              Fastnet Group Limited 
                              Fastnet Systems Plc 
                              Fenfones Communications Limited 
                              Genesis Telecommunications Limited 
                              IDN Telecom Limited 
                              Independent Digital Networks Limited 
                              Isomatrix Uk Limited 
                              Lend Lease Construction Management 
                               Services (One) Limited 
                              Marcom Communications Limited 
                              Net Quest Solutions Limited 
                              Pure Networks Limited 
                              Redcentric Managed Solutions Limited 
                              Redstone Converged Solutions Limited 
                              Redstone Group Holdings Limited 
                              Redstone I4E Limited 
                              Redstone Telecom Holdings Limited

Martin Roy Varley aged 52, is, or has been within the previous five years, a director of the following companies:

 
 Current                          Previous 
 
 Artworktool LLC.                 Advertising Gifts.net Limited 
 Trade Only Limited               Altitude Group plc 
 Trade Only Technology Services   Business Gifts Limited 
  Limited 
                                  Corporate Gifts Limited 
                                  Corporate Solutions (UK) Limited 
                                  Silent Kite Limited

Martin is the beneficial owner of 11,472,559 ordinary shares in the Company, representing 26.7% of the issued share capital.

There are no further disclosures required in accordance with the AIM Rules.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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