TIDMMETC 
 
 




  Appointment of New CEO 


 




  Metic Group plc (AIM:METC), ('Metic' or 'the Group'), the building systems and products group, today announces a number of senior management changes to reflect an increasing focus on international growth and diversification away from the Group's current core markets of Ireland and the UK. 


 




  Mr Stephen Field, Group Chief Executive Officer ('CEO') will step down and become non-executive Director. Mr Paul Williams, currently Group Chief Operating Officer, will take over as Group CEO with immediate effect. Mr William Booth will also step down from his position as Chief Financial Officer ('CFO') with immediate effect. Mr Ken McCarthy, Group Financial Controller, will act as the Group's interim CFO. In addition, Mr Jeremy Saville will step down from his position as non-executive Director with immediate effect. 


 




  Metic will appoint two new non-executive Directors in due course. These positions will be filled by individuals with relevant business expertise in the Middle East, a key growth market for the Group. 


 




  Paul Williams will lead the international development of the Group with the primary objective of diversifying revenue outside of the Irish and UK markets. Metic has successfully begun the process of building an international revenue stream, most notable in the securing of a recent GBP12.5 million contract to develop a manufacturing and warehouse facility for Fluid Leader Group in the Feezones in Sharjah, one of the United Arab Emirates. 


 




  Mr Phillip Marley, Chairman of Metic Group, commented "We are operating in the most challenging economic environment of our time. It is vital that we focus our efforts on those markers and sectors where we can most effectively deploy our resources to deliver profitable growth. We also need to put in place a team with the skillset to deliver on our growth objectives against the backdrop of weak and deteriorating operating environment." 


 




  "Delivering profitable growth and value for shareholders, over the medium term, requires a shift in the Group's primary focus away from the Irish and UK markets to international markets. While Metic is not exposed to the residential sector in Ireland or the UK, and has a substantial pipeline of Government related work, we believe that the successful companies of the future, particularly in construction related sectors, will be those that build a diversified, international revenue stream. 


 




  We are delighted to appoint Paul Williams as CEO. Paul has a proven track record and relevant expertise to lead our team and deliver on our growth objectives." 


 




  Additional Information 


 




  The following information is provided pursuant to paragraph (g) Schedule Two of the AIM rules: 


 




  Mr Paul Williams (Age 54) 


 




  Current Directorships/Partnerships 


 




  Metic Group plcVitrine Systems Ltd. 


 




  Past Directorships/Partnerships over the last 5 years 


 




  Managing Director of Portal Ltd incorporating Portal Plus, Portal Glazed Structures and Portal UK.Verre ConsultancyVerre MarketingOyster Construction 


 




  About Metic Group plc 


 




  Metic Group plc is a Dublin headquartered building systems and products group. With primary operations in the UK and overseas, Metic specifically focuses on the architectural structures, glazing and building facade markets - sectors in which it is the leader in Ireland and the UK. The Group was formed in 2008 and comprises three premier brands in its chosen sectors: Melayway, Spacedecks and Portal Glazing Systems. 


 




  Metic Group has ambitious growth plans in order to create a leading European building systems and products group, with a primary focus on architectural glass structures & buildings, through the acquisition of a series of complementary, highly skilled specialist businesses. Metic has assembled a highly skilled and proven management team with extensive industry experience both geographically and by industry sector, to deliver on its growth objectives. 


 




  Contacts 


 
Metic Group plc               Paul Williams    T: TBC 
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K Capital Source              Jonathan Neilan  T: +353 1 663 3686 
Investors, Analysts & Media 
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Old Park Lane Capital PLC     Forbes Cutler    T: +44 20 749 38188 
Joint Broker 
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Seymour Pierce                John Depasquale  T : +44 207 10 78000 
Joint Broker 
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