25th May 2006 15:46
Cape PLC25 May 2006 Cape PLC Director Resignation The Board of Cape PLC announces the retirement of Paul Ainley. Paul was involvedin a serious car accident on 31st October 2005. Unfortunately, due to the natureand extent of Paul's injuries, he has been unable to resume his duties and maynot be in a position to do so for several months. In the circumstances, the Board has agreed with Paul that it would be in thebest interests of the Company that he resign as a director with immediateeffect, and that he retire as an employee of the Company on 30th April 2007. Inthe interim the Company will be able to call upon Paul's experience andknowledge when required. Paul joined Cape in 1976. He was appointed a director of one of the Group'ssubsidiaries in 1978. He became Managing Director of the Industrial ServicesDivision in 1995 and joined the Cape PLC Board in 1999. Paul has made a verysignificant contribution to the considerable growth of the industrial servicesbusiness. The Board sincerely trusts that Paul will very soon be back to fullhealth and wishes him well for the future. Against this background, the Board continues the task of recruiting a ChiefExecutive Officer. Whilst the results of the search so far have been encouragingand a number of exceptional candidates have been identified, it is not possible,at this stage, to say when an appointment will be made. ENDS For further information, please contact: Cape PLCMartin May, Chairman +44 (0)1924 876 276 Bell Pottinger Corporate & FinancialNick Lambert +44 (0)20 7861 3232 / +44 (0)7811 358 764 Notes to editors Cape PLC is the parent company of a number of service providing organisationsthe 'Group') operating primarily in the oil and gas, petrochemical and powergeneration industries. The Group has turnover of c. £260 million and employsaround 7,700 people in 23 countries worldwide. The Group's sole operating business is Cape Industrial Services ('CIS'). CISspecialises in the provision of scaffolding, insulation, fire protection andother essential services to major industrial clients in the energy sector. CIS operates in Bahrain and Saudi Arabia under the name RB Hilton. In the UK, CIS also operates as Cape Hire and Cape Security. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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