Pinnacle Staffing Group plc
(the "Company")
Change to Board of Directors
Pinnacle Staffing Group plc announces the following changes to its Board of Directors:
Non-Executive Chairman, Richard Aitken-Davies and Non-Executive Directors, Trevor Jones and Ewan Gowrie have resigned from their positions with immediate effect. The Board would like to thank the departing Directors for their hard work and contribution during a challenging period of transition for the business following the demerger from Nestor.
Non-Executive Director, Tom Charlton has been appointed to the role of Executive Chairman pending the appointment of an independent Non-Executive Chairman, after which time he will be appointed as Executive Deputy Chairman. In this new role, Mr Charlton will oversee the day-to-day operational management of the business and ensure that the Company's strategy is effectively delivered.
In light of this restructure, Chief Executive Officer, Jacqui Skinner has taken the decision to step down. The Board would like to thank Ms Skinner for her significant contribution during her time as CEO.
The Board is pleased to announce the appointment of David Hope to the position of Chief Operating Officer. Mr Hope is a qualified Chartered Accountant who has spent a number of years in practice focussing on small and medium sized enterprises. Prior to joining Pinnacle in November 2006 Mr Hope was the Finance Director of Mint Partners Limited, a rapidly expanding Independent Agency Trading House.
John Hodges has been appointed to the role of Non-Executive Director. Mr Hodges has many years experience across a number of business industry sectors. He was the Group Finance Director and then Managing Director for Ryder PLC before joining AutoLogic Holdings PLC in 1997 as a Non-Executive Director and Chairman of the Audit Committee. In 2004 he acquired Acumen Logistics Group Limited, a UK logistics company, where he assumed the role of Chairman. Since acquisition revenues have grown significantly and a loss-making company at the time of acquisition is now producing profits at 10% of revenues.
The Board is looking to appoint an experienced independent Non-Executive Chairman in the near future.
For further information contact:
Pinnacle Staffing Group plc Tom Charlton, Executive Chairman David Laing, Finance Director | 01582 395900 |
Brewin Dolphin Limited Matt Davis / Alison Barrow | 0845 270 8600 |
Citigate Dewe Rogerson Seb Hoyle / Toby Mountford / Hannah Seward | 020 7638 9571 |
Notes:
In accordance with Schedule 2 paragraph (g) of the AIM Rules, the Company discloses the following in respect of Mr Charlton:
i) | Full name: Thomas William George Charlton |
ii) | Age: 51 |
iii) | Current directorships: Panvista Limited |
iv) | Previous directorships in the last five years: Feedback Plc |
Mr Charlton has a beneficial interest in 26,200,538 ordinary shares in the Company, representing 29.9% of the issued share capital of that class.
In accordance with Schedule 2 paragraph (g) of the AIM Rules, the Company discloses the following in respect of Mr Hope:
i) | Full name: David Hope |
ii) | Age: 32 |
iii) | Current directorships: Hope-Full Numbers Limited |
iv) | Previous directorships in the last five years: None |
The following disclosure has been made for completeness in addition that which is required pursuant to Schedule 2 (g) of the AIM Rules:
The Company has an annual contract for the provision of online training services for with The Compliance Company (GB) Ltd, a company in which Mr Hope's wife is the major shareholder. During the year to 31 December 2008 the value of such services provided by The Compliance Company (GB) Ltd will amount to approximately £18,000.
In accordance with Schedule 2 paragraph (g) of the AIM Rules, the Company discloses the following in respect of Mr Hodges:
i) | Full name: John Hodges |
ii) | Age: 62 |
iii) | Current directorships: Acumen Logistics Group Limited Acumen Distribution Limited Acumen Automotive Logistics Limited Cargo Development Company Limited Connection Freight Limited VAS Limited VAS Overseas Limited Templewood Homes Limited |
iv) | Previous directorships in the last five years: Autologic Holdings Plc Skillweb limited Farnham Park Res.Assoc.Limited |
v) | details of any receiverships, compulsory liquidations, creditors' voluntary liquidations, administrations, company voluntary arrangements or any composition or arrangement with its creditors generally or any class of its creditors of any company where such director was a director at the time of or within the twelve months preceding such events; Director of Templewood Homes Limited during the Voluntary liquidation in 1994. |
RNS news service provided by Hemscott Group Limited.