Board Appointments

About this update from Chesterfield Special Cylinders Holdings Plc

[{"type":"text","content":"\n \n \n 21 March 2023\n \n \n Pressure Technologies plc\n \n \n (\"Pressure Technologies\" or \"the Company\")\n \n \n \n Board Appointments\n \n \n \n Pressure Technologies plc, (AIM: PRES), the specialist engineering group, announces that Richard Staveley will be appointed as a Non-Executive Director of the Company following the publication of its Annual Report & Accounts for the financial year ended 1 October 2022, which the Company currently expects to be no later than the end of April 2023.\n \n \n Richard is a qualified accountant who has over twenty years' experience of equity investing, fund management and working with both private and publicly quoted companies. Having qualified as a Chartered Accountant at PricewaterhouseCoopers, Richard has worked in a senior capacity and fund manager at a number of successful fund management businesses, including Majedie Asset Management and was a co-founder of River and Mercantile Asset Management. He is a Chartered Financial Analyst (CFA) Charterholder and holds a Bachelor of Arts degree in politics from the University of Newcastle. Richard is a Non-Executive Director of AIM quoted Bonhill Plc, and Centaur Media plc, a company listed on the main market of the London Stock Exchange.\n \n \n Richard Staveley is a consultant to Harwood Capital LLP (\"Harwood\"), the investment manager of Rockwood Strategic plc, which holds 20.04 percent of the Company's issued share capital, and is being appointed as a representative of Harwood pursuant to a Relationship Agreement between the Company, Harwood and the Company's nominated adviser. The primary purpose of the Relationship Agreement is to ensure that the Company is capable of carrying on its business independently at all times. In accordance with the terms of the Relationship Agreement, Mr Staveley shall be entitled to remain on the Board of Directors of the Company provided that Harwood retains an aggregate interest of at least 10% of the Company's issued ordinary share capital.\n \n \n On 17 January 2023, the Company announced\n the appointment of Steve Hammell as Chief Financial Officer, which was expected to be in the second quarter of this calendar year. The Company now confirms that Steve will join the Company as a Director in May 2023.\n \n \n Further announcements will be made regarding the appointment dates for both Direc...

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