AI assistant
SAFEROADS HOLDINGS LIMITED — Board/Management Information 2012
Apr 3, 2012
65853_rns_2012-04-03_f41a9b2b-585f-488f-bbf3-8fea7d944be8.pdf
Board/Management Information
Open in viewerOpens in your device viewer
==> picture [286 x 61] intentionally omitted <==
MARKET ANNOUNCEMENT
4 April 2012
The Board of Saferoads Holdings Limited (ASX:SRH) advises the following:
Chief Executive Officer
The Board is pleased to announce that Mr Darren Hotchkin, the founder of the Company, has agreed to assume the role of acting Chief Executive Officer, effective from Tuesday 10 April 2012. Mr David Cleland, who has been acting CEO since November 2011, will continue to provide executive support for several days per week and will remain on the Board.
Distribution Agreement
The Board advises that the Distribution Agreement with the USA company Energy Absorption Systems Inc (EASI) will expire on 30 June 2012 and will not be renewed. Trinity Highway Products recently purchased EASI and has pre-existing distribution agreements within Australia.
Products covered under the distribution agreement include “Triton” water filled plastic barriers, “QuadGuard” crash cushions and “Safestop” truck mounted attenuators.
The reciprocal distribution agreement with EASI/Trinity for overseas markets for Saferoads’ patented product “Iron Man” steel barriers continues for a further two years.
The Board and Management believe that there are ample opportunities to arrange alternative distribution and supply agreements for equivalent products in the categories previously covered by the EASI distribution agreement.
==> picture [61 x 22] intentionally omitted <==
Mr G Bertuch Chairman
0419 367 785