Invinity Energy Systems Plc

Management Reports • Jun 28, 2013

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RNS Number : 0779I

Redstone PLC

28 June 2013

28 June 2013

Redstone plc

("Redstone" or "the Company")

Board Change

Following the successful completion of the demerger Peter Hallett, Chief Financial Officer of the Company, has given notice of his resignation in order to pursue new professional challenges. Peter has been with the business for over four years and has successfully completed the restructuring of Redstone plc and the demerger and flotation of Redcentric plc. Peter has a twelve-month notice period and will remain as Chief Financial Officer of the Company until a successor has been recruited. Peter joined the Redstone Board in 2009 having worked closely with the business as a consultant on behalf of our bank since 2008 as a highly experienced interim and turnaround specialist. Peter was instrumental in the refinancing and restructuring of the business which has now been successfully completed.

David Payne, Chairman of Redstone, said:

"The Board would like to thank Peter for all that he has done for the business during his tenure. His work in restructuring and refinancing the business has been outstanding and we wish him all the very best for the future."

Peter Hallett, Chief Financial Officer, said:

"It has been a pleasure to successfully oversee both the turnaround of Redstone plc and the successful demerger and flotation of Redcentric plc. Both businesses are now leaders in their respective fields and I feel that my work will be complete following a thorough handover to my successor. I wish both businesses every success in the future and wish to thank both companies' employees, customers, suppliers, shareholders and bankers for all contributing towards this success."

For further information:

Redstone plc  Ian Smith, Chief Executive	Tel. +44 (0)845 034 1111
finnCap - NOMAD & Broker Charlotte Stranner / Stuart Andrews	Tel. +44 (0)20 7220 0500
MXC Capital Advisory LLP Marc Young	Tel. +44 (0)20 7965 8149
Newgate Threadneedle Josh Royston / Hilary Millar	Tel. +44 (0)20 7653 9850

This information is provided by RNS

The company news service from the London Stock Exchange

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