SRT MARINE SYSTEMS PLC

Board/Management Information • Aug 17, 2017

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RNS Number : 1775O

SRT Marine Systems PLC

17 August 2017

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

Board changes

SRT Marine Systems plc, the provider of maritime tracking, management and surveillance technologies, products and integrated system solutions for ports, waterways, fisheries and coast guards, announces the following changes to evolve and strengthen the Company's Board of Directors to reflect and support SRT's future growth, particularly the implementation of multiple projects simultaneously.

Simon Rogers, current Non-Executive Chairman of the Company, is to step down as Chairman but remain on the Board as a Non-Executive Director. Kevin Finn will join SRT as Non-Executive Chairman. As a pre-flotation investor in the company and after almost 12 years as a Non-Executive Director, Andrew Lapping will stand down from the Board in order to spend more time on his other interests. We would like to thank Andrew for his contribution and commitment to the Group throughout his tenure and wish him well in his future endeavours. These Board changes are all made concurrently and with immediate effect.

These Board changes are being made to provide more relevant and intensive support to the management team as the business matures with the challenges of simultaneously delivering multiple complex projects in different countries.

Kevin is a highly respected international businessman with significant strategic and operational experience of complex businesses. His experience in the automotive industry brings significant expertise and knowledge in respect of strategies for managing complex product supply chains, the operation of large dealer networks, big data systems, M&A and negotiation of complex international contracts, all of which are skills that will be highly relevant to SRT's business.

Commenting on these Board changes, Simon Rogers, SRT Marine Systems, stated:

"SRT is now in a growth phase and these changes will provide the management team with greater support and more relevant experience for the challenges and opportunities we now face. I am delighted to welcome Kevin to the Board of SRT and I am sure his wealth of real world experience of complex multi-faceted businesses with similar operational characteristics to SRT will be of considerable benefit at a time when the Company is migrating from its entrepreneurial phase to one of multiple project implementation."

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:

Mr Kevin Joseph Finn (aged 57) has been director of the following companies during the five years preceding the date of this announcement:

Current directorships	Previous directorships
The Retail Motor Industry Federation Limited	Dampclear Limited
Sign Language Limited	Autologic Diagnostics International Limited
Backhouse Management Limited	Autologic Diagnostics Holdings Limited
CGI Creative Graphics International Limited	Autologic Diagnostics Limited
Finn & Fine Limited	Diagnos Limited
Computer Processing Technology Limited	LGDA Limited
K Finn & Co Limited
Fullfield Limited
Institute of the Motor Industry (The)
Shillito Consulting Limited Revolve Performance Limited Alliance Asset Management Limited Motorclean EBT Trustee Limited Autologic Group

There is no further information to be disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

For further information, please contact:
SRT Marine Systems plc		www.srt-marine.com  + 44 (0) 1761 409500
Simon Tucker (CEO)		simon.tucker@srt-marine.com
Louise Coates (Marketing Manager)		louise.coates@srt-marine.com
finnCap Ltd
Jonny Franklin-Adams / Simon Hicks (Corporate Finance)		+44 (0) 20 7220 0500
Emily Morris / Camille Gochez (Corporate Broking)

About SRT Marine Systems plc:

SRT develops, manufactures and supplies maritime vessel tracking technology and turn-key system solutions to marine stakeholders across the globe with a particular expertise in AIS. The Company's products and solutions are used by individual vessel owners, port authorities, maritime infrastructure owners, coast guards and national security agencies to enhance their maritime domain awareness. Applications include the tracking of commercial and leisure vessels; sustainable fishery; anti-collision; search and rescue; waterway management, port and coast security; pollution management; and environmental management.

This information is provided by RNS

The company news service from the London Stock Exchange

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