Business
New Chairman Appointed
New Chairman Appointed.
About this update from Image Scan Holdings Plc
[{"type":"text","content":"\n Image Scan Holdings PLC\n30 November 2007\n\n 30 November 2007\n\n\n Image Scan Holdings plc\n ('Image Scan' or 'the Company')\n\n\n NEW CHAIRMAN APPOINTED\n AWARD OF OPTIONS\n\n\n\nThe Board of Image Scan, a leader in the field of real-time 3D and 2D x-ray\nimaging for the 'Homeland Security' and 'Industrial Inspection' markets, today\nannounces the appointment of Gilbert Chalk as non-executive Chairman.\n\n\nMr Chalk is a senior private equity manager and corporate finance adviser. With\nprevious directorships and advisory roles in blue chip institutions including\nBaring Private Equity Partners Limited, ABSA Bank and Hambros Group, Mr Chalk\nhas wide sector knowledge and extensive Board experience in large and small,\nlisted and unquoted companies.\n\n\nCommenting on his appointment, Chairman Gilbert Chalk said: 'I am delighted to\nbe asked to join the Board of the Image Scan. The Company has established itself\nat the leading edge of x-ray technology with its products now installed, or in\ntrial, across a range of major industrial and public authority locations\nworldwide. All Image Scan's customers require sophisticated x-ray imaging and\ninspection where safety and accuracy are of vital importance. The recently\nannounced sales of the Company's Axis-3d(R) system to the Chinese for use at the\nBeijing Olympics is a further endorsement by a major high profile international\ncustomer of one of the Company's range of products. In the near term the Board's\nprincipal aim will be to extend the Company's ability to obtain high margin\ndirect sales growth by widening its current customer base. Measures are in\nprocess to refocus and add to the Marketing and Sales effort, and the recent\naddition of Jerry Horwood to the Board will add further to the strategic\ndirection of the Company's customer focus. Steps have also been taken to reduce\noverheads to bring Image Scan closer to achieving profitability as further sales\nrevenues are generated.'\n\n\nIn line with the Company's stated objective to control costs, the remuneration\ncommittee has agreed not to increase the salaries of the directors, but instead\nto reward their long term commitment to the company through the award of\noptions. The Chief Executive, Nick Fox, and the Finance Director, Louise\nGeorge, will therefore each be granted options over 750,000 shares.\n\n\nIn a...