Altitude Group PLC Directorate Changes and Update (5438L)
April 28 2015 - 7:15AM
UK Regulatory
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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