SRT MARINE SYSTEMS PLC

Board/Management Information • Nov 7, 2013

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RNS Number : 4059S

Smart Metering Systems PLC

07 November 2013

Smart Metering Systems plc

('SMS' or 'the Company')

Board Changes

The Board of Smart Metering Systems plc (AIM: SMS.L), the integrated metering services company that connects, owns, operates and maintains current generation and new advanced metering assets and databases, announces that it has been notified that Kevin Lyon, Chairman has decided to stand down from the Board and that Paul Dollman has agreed to join the Board as Chairman, all with immediate effect.

Paul Dollman is a Chartered Accountant and was Group Finance Director of John Menzies plc for over ten years until May 2013. John Menzies plc is a FTSE250 international Support Services business with two divisions and has revenues of around £2bn. Paul was particularly involved in the growth and development of the Aviation Division, which nearly trebled in size in ten years. Prior to that he was Group Finance Director of William Grant and Sons Ltd and previously held senior finance positions in Inveresk plc, Maddox Group plc and Clydesdale Retail Group. He is a non-executive Director of Scottish Amicable Life Association Society and is a member of the Audit Committee of The National Library of Scotland. Following his appointment as Chairman of SMS, he will Chair the Company's Remuneration and the Nomination Committees and sit on the Audit Committee.

Commenting on his decision, Kevin Lyon noted:

"I'm delighted to have had the opportunity to Chair the Board of SMS over the past 2 ½ years as the Company went through a successful Stock Market flotation process in 2011. By the end of June 2013, our total gas meter portfolio had increased from around 220,000 at float to in excess of 400,000 generating a recurring index linked meter rental income stream of over £13m and growing.  I am confident that I leave the Company in good shape and well positioned to continue to grow and I have no doubt that Paul will be an outstanding addition to the Board.''

Commenting on his appointment, Paul Dollman added:

"I am delighted to join the Board at this exciting time in the Company's development as SMS continues its expansion plans. I look forward to using my experience at John Menzies plc to help SMS to make the most of the significant growth opportunities ahead."

Commenting on Kevin Lyon's decision and on Paul Dollman's appointment, Alan Foy, Chief Executive of SMS, said:

"I would like to thank Kevin on behalf of the whole Board for his contribution over the past 2 ½ years. Our AIM listing was a significant step in the development of the Company and I was pleased to have a Chairman of Kevin's calibre to assist us. We wish him every success in his other business activities.

I am delighted that Paul has agreed to join our Board and we look forward to working with him.

It is the Board's intention to find further new Non Executive Directors and we hope to announce additional appointments in due course. As noted in the Interim Results published in September, SMS continues to look forward with confidence.''

The directorships and partnerships held by Mr Dollman (full name: Paul Bernard Dollman) (aged 57) now and over the five years preceding the date of appointment are as follows:

Current Directorships / Partnerships

Non-Executive Director of Scottish Amicable Life Association Society

Directorships / Partnerships in the past 5 years

Name	Position	Appointed	Resigned
Cyberstore Limited	Director	01/07/2008	11/12/2012
Gray and Company Limited	Director	01/07/2008	11/12/2012
James Waddell & Company Limited	Director	01/07/2008	17/05/2013
John Menzies (Birmingham) Limited	Director	01/07/2008	17/05/2013
John Menzies (Bookshops) Limited	Director	01/07/2008	11/12/2012
John Menzies (Edinburgh) Limited	Director	01/07/2008	17/05/2013
John Menzies (GB) Limited	Director	01/07/2008	17/05/2013
John Menzies (Northern) Limited	Director	01/07/2008	11/12/2012
John Menzies Distribution Limited	Director	01/07/2008	17/05/2013
John Menzies European Holdings Limited	Director	01/07/2008	11/12/2012
John Menzies Games Limited	Director	01/07/2008	11/12/2012
Jones Yarrell Leadenhall Limited	Director	01/07/2008	17/05/2013
Jones, Yarrell & Co. Limited	Director	01/07/2008	17/05/2013
Kentwood Stationery (Reading) Limited	Director	01/07/2008	11/12/2012
Lonsdale Universal Limited	Director	01/07/2008	17/05/2013
Lonsdale Universal Trustees Limited	Director	01/07/2008	17/05/2013
Menzies Interactive Limited	Director	01/07/2008	11/12/2012
Menzies No.1 Limited	Director	01/07/2008	11/12/2012
Menzies No.2 Limited	Director	01/07/2008	11/12/2012
Menzies No.3 Limited	Director	01/07/2008	11/12/2012
Menzies No.4 Limited	Director	01/07/2008	11/12/2012
Menzies No.5 Limited	Director	01/07/2008	11/12/2012
Menzies Wholesale Limited	Director	01/07/2008	17/05/2013
Menzies Worldwide Distribution Limited	Director	01/07/2008	17/05/2013
N G Morrison Limited	Director	01/07/2008	11/12/2012
Porter and Tonkin Limited	Director	01/07/2008	11/12/2012
Proudhound Limited	Director	01/07/2008	11/12/2012
Scribes (Stationery & Cards) Limited	Director	01/07/2008	11/12/2012
Software On Demand Limited	Director	01/07/2008	11/12/2012
Terry Blood Distribution Limited	Director	01/07/2008	11/12/2012
THE Games Limited	Director	01/07/2008	11/12/2012
John Menzies (Bond Street) Limited	Director	01/07/2008	11/12/2012
The Menzies Group Limited	Director	01/07/2008	17/05/2013
Universal Direct	Director	01/07/2008	11/12/2012
Universal Office Interiors Limited	Director	01/07/2008	11/12/2012
Universal Officepoint Limited	Director	01/07/2008	11/12/2012
Universal Stationers Limited	Director	01/07/2008	11/12/2012
John Menzies (Belfast) Limited	Director	01/07/2008	11/12/2012
Menzies Distribution Limited	Director	16/03/2009	17/05/2013
Menzies Group Holdings Limited	Director	01/10/2002	17/05/2013
J M Nominees Limited	Director	01/10/2002	17/05/2013
J M Secretaries Limited	Director	01/10/2002	17/05/2013
John Menzies (108) Limited	Director	01/10/2002	17/05/2013
John Menzies International Limited	Director	01/10/2002	17/05/2013
John Menzies plc	Director	01/10/2002	17/05/2013
Menzies Aviation (New Zealand) Limited	Director	20/09/2004	03/02/2005
Princes Street (Jersey) Limited	Director	17/12/2004	17/05/2013
Menzies Services Limited	Director	20/03/2007	17/05/2013
J M Insurance Limited	Director	28/03/2007	22/10/2009
John Menzies Finance Limited	Director	11/06/2007	17/05/2013
John Menzies USA Holdings Incorporated	Director	19/03/2007	17/05/2013
John Menzies USA Incorporated	Director	19/03/2007	17/05/2013
MCS Trustee Limited	Director	02/12/2010	17/05/2013
MPF Trustee Limited	Director	02/12/2010	17/05/2013
Menzies Aviation plc	Director	12/10/2012	17/05/2013
John Menzies (Southern) Limited Employee Benefit Trust	Committee of Management	31/03/2003	17/05/2013
John Menzies USA Incorporated	President	19/03/2007	17/05/2013
John Menzies USA Holdings Incorporated	President	19/03/2007	17/05/2013
John Menzies (Southern) Limited Employee Benefit Trust	Trustee	31/03/2003	17/05/2013

As at the date of this announcement, Mr Dollman does not have an interest in the share capital of the Company.

There are no other matters to be announced as required under paragraph (g) of Schedule Two of the AIM Rules.

Ends

For Further Information:

Smart Metering Systems plc	0141 249 3850
Alan Foy, Chief Executive Officer
Glen Murray, Finance Director
Cenkos Securities	0131 220 6939 / 0207 397 8900
Ken Fleming
Neil McDonald
Kreab Gavin Anderson	020 7074 1800
Chris Philipsborn
Anna Schoeffler

Notes to Editors

About Smart Metering Systems

Established in 1995, Smart Metering Systems plc based in Glasgow, connects, owns, operates and maintains metering systems and databases on behalf of major energy companies. 

Currently the Company is concentrating its efforts on offering its unique integrated services to the UK industrial and commercial gas market in which its customers have an 80% market share.

The Company has further applications for gas with its ADM™ device which allows "smart" functions such as remote reading and half hourly consumption data to be offered to customers in addition to the normal metering services. Longer term the company also has additional applications for water and LPG.

The Company was admitted to the AiM market in July 2011 and is now part of the FTSE AiM 50 index, for more information on SMS please visit the Company's website: www.sms-plc.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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