Board/Management Information • Jul 3, 2013
Board/Management Information
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National Storage Mechanism | Additional information
RNS Number : 4825I
Versarien PLC
03 July 2013
| 3 July 2013 |
Versarien plc
("Versarien" or the "Group")
Appointment of Finance Director
Versarien plc (AIM: VRS), the advanced engineering materials group, announces today that Christopher Michael Leigh, aged 53, has been appointed Finance Director and Company Secretary with immediate effect. Stephen Humphries, the Group's current interim Finance Director, who joined the Board on a temporary basis to assist with Versarien's recent AIM listing, will be stepping down from the Board and as a director of the Group with immediate effect.
Mr Leigh is an experienced Finance Director with a significant track record in the manufacturing and engineering sector. His expertise covers corporate finance, mergers & acquisitions, post acquisition integration, organisational restructuring and change management. He is currently Chief Financial Officer at a leading medical recruitment agency ProMedical Personnel Limited, a position he has held since October 2011. Prior to this, Christopher was Group Finance Director of AIM-listed Elektron Technology Plc for eighteen years between 1992 and 2010. Christopher will initially be working part time at Versarien and will transition to a full time position in line with the requirements of the role but remain an advisor to ProMedical
Neill Ricketts, Chief Executive Officer of Versarien plc, said: "I am delighted to welcome Chris to the Board of Versarien at this pivotal time. The move to AIM and acquisition of Total Carbide means there is a significant need within Versarien for the skills that Chris has. His experience within M&A and post-acquisition integration, specifically within the engineering sector, will be important as the Group integrates the processes and infrastructure of Versarien and Total Carbide.
"I would like to thank Stephen Humphries, our interim Finance Director who has provided invaluable support to Versarien throughout the listing process. He leaves with our very best wishes."
Commenting on his appointment, Christopher Leigh said: "I am delighted to be joining Versarien at this exciting point in the Group's development. My previous position as Group Finance Director at Elektron Technology provides me with valuable knowledge of Versarien's newly acquired operating subsidiary Total Carbide. I very much look forward to utilising my AIM experience as part of an excellent management team."
This announcement sets out the disclosures required pursuant to Schedule 2, paragraph (g) of the AIM Rules for Companies.
| Current directorships/partnerships | Previous directorships/partnerships within the past 5 years |
| Thorndon Park Golf Club Limited | Advanced Electronic Technologies Limited |
| Arcolectric 59 Limited | |
| Arcolectric 61 Limited | |
| Arcolectric Switches (Hong Kong) Limited | |
| Elektron Components (Shenzhen) Limited | |
| Arcolectric Tunisie Sarl | |
| Aviation Career Associates Limited | |
| Blackbushe School of Flying Limited | |
| Bulgin Components Limited | |
| Bulgin Power Sources plc | |
| C Helis Limited | |
| C Schools Limited | |
| Cabair College Of Air Training Limited | |
| The Cabair Group Limited | |
| Cabair Holdings Limited | |
| Cabair International (Overseas) Limited | |
| Cabair International (UK) Limited | |
| Cabair International Aviation Limited | |
| Cabair International Limited | |
| Cabair Limited | |
| Cabair Maintenance Limited | |
| Cirkit Holdings Limited | |
| Denham Aircraft Maintenance Limited | |
| Denham School of Flying Limited | |
| Digitron Instrumentation Limited | |
| Elektron Component Corporation | |
| Elektron Instruments Limited | |
| Elektron IP Limited | |
| Elektron Limited | |
| Elektron Technology plc | |
| Elektron Technology UK Limited | |
| Elektron Trustees Limited | |
| Elektron Tunisie Sarl | |
| Escape To Limited | |
| European Pilot Training Academy Limited | |
| Heli London Limited | |
| Helitech (Luton) Limited | |
| Helitech Limited | |
| London Aviation Limited | |
| The London School of Flying Limited | |
| Over The Pond Limited | |
| Phoenix Rising From The Ashes Limited | |
| Plane Talking Limited | |
| Queensgate Instruments Limited | |
| Southern Flight Training Limited | |
| Sport Aviation Limited | |
| Titman Tip Tools Limited | |
| Total Carbide Limited | |
| World Aviation Holdings Limited | |
| Wycombe Air Centre Engineering Limited | |
| Wycombe Air Centre Limited |
Mr Leigh was a director of of Cabair International Aviation Limited ("CIAL") and its subsidiaries for a period of one month. On 23 June 2011, Mr Leigh resigned as a director of Cabair International Aviation Limited ("CIAL") and its subsidiaries Cabair International (UK) Limited, Cabair College of Air Training Limited, Cabair Maintenance Limited, Cabair International (Overseas) Limited, Cabair Holdings Limited, the Cabair Group Limited, Cabair International Limited, Cabair Limited, C Schools Limited, Escape To Limited, Wycombe Air Centre Limited, Aviation Career Associates Limited, European Pilot Training Academy Limited, C Helis Limited, Plane Talking Limited, World Aviation Holdings Limited, Blackbushe School of Flying Limited, Denham Aircraft Maintenance Limited, Heli London Limited, Helitech (Luton) Limited, Helitech Limited, London Aviation Limited, Southern Flight Training Limited, Sport Aviation Limited, The London School of Flying Limited, Wycombe Air Centre Engineering Limited and Over The Pond Limited. On 20 October 2011 an administrator was appointed to the CIAL group following several years of poor trading with a deficiency to creditors of approximately £958,700.
Mr Leigh does not currently hold any interest in the share capital of the Company.
- Ends -
For further information:
| Versarien Limited | |
| Neill Ricketts, Chief Executive Officer | Tel: +44 (0) 1594 368 252 |
| www.versarien.com |
| Northland Capital Partners Limited (Nomad and Joint Broker) |
|
| William Vandyk / Lauren Kettle | Tel: +44 (0) 20 7796 8800 |
| [email protected] | www.northlandcp.co.uk |
| Westhouse Securities Limited (Joint Broker) |
|
| Tom Griffiths / Rob Sanders | Tel: +44 (0) 20 7601 6100 |
| www.westhousesecurities.com |
Media enquiries:
| Abchurch Communications Limited | |
| Henry Harrison-Topham / Jamie Hooper | Tel: +44 (0) 20 7398 7719 |
| [email protected] | www.abchurch-group.com |
Notes to Editors
Versarien develops advanced micro-porous metals for thermal management. The open celled metallic foams produced by the Group at its manufacturing factory in Cinderford, Gloucestershire, are 'biomimetic' - that is they mimic the sponge like structures of biological materials, e.g. bone and coral.
Versarien's porous metals have an exceptionally high surface area relative to volume which means they are ideally suited to any function where surface area is important, for example heat transfer, heat exchange, catalysis and energy storage. Versarien is initially targeting the thermal management industry due to the material's superb heat transfer properties. The thermal management market is expected to reach US$S11.1 billion during 2013 (Source: BCC Research).
The Group's lead product is VersarienCu, a micro-porous copper. When incorporated into liquid cooling systems, VersarienCu can improve efficiency by up to ten times. Versarien's key market is cooling systems for central processing units (CPUs), hardware that is found in high performance workstations (engineering, science, CGI, animation), computer clusters, supercomputing infrastructure and data centres. VersarienCu can be retrofitted into 'cold plates' within existing infrastructure and the Group also intends to produce complete cooling systems containing VersarienCu.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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