21st Jun 2006 07:01
Sarantel Group PLC21 June 2006 For immediate release 21 June 2006 Sarantel Group PLC ("Sarantel") Appointment of Non-Executive Chairman Sarantel is pleased to announce the appointment of Mr Geoff Shingles, CBE, asNon-Executive Chairman with immediate effect. He succeeds Mr David Dey who isstepping down to devote more time to his other interests in a number of earlystage companies. Mr Shingles, aged 67, is the chairman of Imagination Technologies plc, a companylisted on the London Stock Exchange, which develops and licenses silicon andsoftware IP for multimedia and communication devices. He is also thenon-executive chairman of Prevx Limited and a non-executive director ofSpeedtrap Limited and Retento Limited. David Wither, Chief Executive Officer of Sarantel commented: "I am very pleased to be welcoming Geoff Shingles to the Board of Sarantel. Ourunique antenna technology is addressing markets that are at the forefront ofwireless technology such as portable satellite radio and personal navigation.This is an exciting time for the company and the Board intends to achieve astrong position in these and other rapidly expanding wireless markets. I wouldlike to thank David Dey for his contribution and commitment during his time atSarantel. His leadership helped to transition the company from a small privateprototype manufacturing organization to a company that is experiencing stronggrowth and is now capable of very high volume production. We wish him well forthe future." Mr Shingles was previously the non-executive chairman of Nanomagnetics Limiteduntil the end of 2003. He has also held non-executive director positions atInterregnum Venture Marketing Limited (now dissolved), as well as at udate Inc.and Authoriszor Inc., two companies listed on NASDAQ. He was a non-executivedirector of WRDCLOGSYS Limited (until September 2002), Kecrypt Limited (untilJuly 2004), Eurotel Telecom Group Limited (until September 2004) and TheParkmead Group plc (until January 2006). As part of the terms of his office, Mr Shingles will be paid an engagement feeof £70,000. He has requested that £42,000 of this sum be used to subscribe for170,732 A ordinary shares in Sarantel at 24.6p per share (being the average ofthe mid market prices at the close of business on the previous five days), thissum being the amount of the engagement fee, less related income tax. Following this subscription, his total shareholding in the company is 170,732 AShares, amounting to 0.28% of the Company's issued A Shares. Mr Shingles has agreed not to transfer or dispose of these shares until 19 June2008 without the prior consent of the Board of Sarantel. Mr Dey will remain on the board as a non-executive director until 17 July 2006. Application is being made for the admission to trading on AIM of the 170,732 newordinary shares. These shares will rank pari passu with the Company's existingissued ordinary shares and dealings are expected to commence on 26 June 2006. There are no other disclosures required under the AIM Rules or the Schedulesthereto in relation to Mr Shingles' appointment. For further information please contact: Sarantel Group PLC www.sarantel.comDavid Wither, CEO/Sitkow Yeung, CFO 01933 670560Smithfield 020 7360 4900Sara Musgrave / Tania Wild Pictures are available for the media to view and download fromwww.vismedia.co.uk Notes to Editors: About Sarantel Sarantel designs, manufactures and sells patented, ceramic, filtering antennasfor use in portable wireless devices. These antennas allow a clearer signal thanconventional antennas whilst reducing the amount of energy absorbed by the bodyby approximately 90 per cent. They also simplify system design, thus allowingdesign standardisation and reduced time to market and cost for manufacturers.Sarantel's antennas significantly improve the performance of wireless systems byincreasing their range and effective bandwidth. The Company supplies antennas to the Global Positioning Satellite (GPS) marketand the North American satellite radio market and Sarantel's antennas have beensuccessfully designed into Personal Navigation Devices (PNDs), laptops andPersonal Digital Assistants (PDAs). Sarantel's antenna technology is alsocapable of servicing multiple high volume markets such as Wi-Fi, 3G andBluetooth. Sarantel is listed on AIM, a market operated by the London Stock Exchange and isincluded in the IT Hardware sector (93) within the Telecommunications equipmentsub-sector (938) and has a RIC code of SLG.L This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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