5th Aug 2005 11:18
Quadnetics Group PLC05 August 2005 Quadnetics Group plc 5 August 2005 Board Changes Quadnetics Group plc, a leader in the design, integration and control ofadvanced CCTV and networked video surveillance systems, announces that it hasappointed two additional executive directors to its Board: David Orme becomesGroup Operations Director, and Glenn Robinson becomes Group Technical & BusinessDevelopment Director. Prior to joining the Company Mr David Orme was Chief Operating Officer of BellGroup plc, a successful quoted electronic security systems supplier. Mr Ormehas wide experience and an excellent track record of achievement in the securitysystems industry, and the Board is delighted he has agreed to join Quadnetics. Glenn Robinson joined Quadnetics in 1997 and has most recently been responsiblefor successful development and delivery of the Company's large-scale digitalsecurity systems in the UK and Canada. In his new role, his primary focus willbe to help achieve rapid growth of Synectics' digital security systems businessin the United States, working with the local management of recently acquiredSynectics, Inc. In addition, the Company's Chairman, Peter Rae, has requested to stand down asChairman, due to the increasing pressure of other business commitments. Mr Raehas agreed to remain as senior independent non-executive director for a periodof up to a year. David Coghlan, Deputy Chairman, has been appointed Chairman,effective from 4th August. Following the announcement dated 22 April 2005, and the end of the Company'sfinancial year, the Board's expectations remain that consolidated profit beforetax and goodwill amortisation for the year ended 31 May 2005 will be not lessthan £2.6 million. As previously predicted, sales achieved by the Company'sdigital security systems subsidiary, Synectics, were more than double those ofthe previous year, at margins ahead of budgeted expectations. Russ Singleton, Chief Executive, commented: "I am delighted to welcome David Orme and Glenn Robinson to the Board. Thisstrengthening of the Group-level executive team will significantly expand theCompany's capacity to achieve the growth objectives we have set ourselves. Inparticular, it will increase our scope for capitalising on the marketopportunities we are now seeing for major digital security systems in the UK andNorth America." David Michael Orme, aged 41, is or has been a director of the followingcompanies and organisations during the past five years Current Directorships Directorships held in the past five yearsNil Bell Group plc Bell Security Limited Glenn Robinson, aged 39, is or has been a director of the following companiesand organisations during the past five years: Current Directorships Directorships held in the past five yearsSynectic Systems Limited A1 Presentations Limited Quadrant Rentals Limited Quadrant Research & Development Limited Quadrant Video Systems plc SJC120 Limited Stanmore Systems Limited There is no other information that is required to be disclosed under Schedule 2paragraph (g) of the AIM Rules. Enquiries: Peter Curtain / Ariane Comstive Tel: +44 020 7398 7700Abchurch [email protected] Neil Baldwin Tel: +44 0113 241 0130Brewin Dolphin [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Synectics