Smart Metering Systems PLC Board Changes (4059S)
07 November 2013 - 8:01AM
UK Regulatory
TIDMSMS
RNS Number : 4059S
Smart Metering Systems PLC
07 November 2013
Smart Metering Systems plc
('SMS' or 'the Company')
Board Changes
The Board of Smart Metering Systems plc (AIM: SMS.L), the
integrated metering services company that connects, owns, operates
and maintains current generation and new advanced metering assets
and databases, announces that it has been notified that Kevin Lyon,
Chairman has decided to stand down from the Board and that Paul
Dollman has agreed to join the Board as Chairman, all with
immediate effect.
Paul Dollman is a Chartered Accountant and was Group Finance
Director of John Menzies plc for over ten years until May 2013.
John Menzies plc is a FTSE250 international Support Services
business with two divisions and has revenues of around GBP2bn. Paul
was particularly involved in the growth and development of the
Aviation Division, which nearly trebled in size in ten years. Prior
to that he was Group Finance Director of William Grant and Sons Ltd
and previously held senior finance positions in Inveresk plc,
Maddox Group plc and Clydesdale Retail Group. He is a non-executive
Director of Scottish Amicable Life Association Society and is a
member of the Audit Committee of The National Library of Scotland.
Following his appointment as Chairman of SMS, he will Chair the
Company's Remuneration and the Nomination Committees and sit on the
Audit Committee.
Commenting on his decision, Kevin Lyon noted:
"I'm delighted to have had the opportunity to Chair the Board of
SMS over the past 2 1/2 years as the Company went through a
successful Stock Market flotation process in 2011. By the end of
June 2013, our total gas meter portfolio had increased from around
220,000 at float to in excess of 400,000 generating a recurring
index linked meter rental income stream of over GBP13m and growing.
I am confident that I leave the Company in good shape and well
positioned to continue to grow and I have no doubt that Paul will
be an outstanding addition to the Board."
Commenting on his appointment, Paul Dollman added:
"I am delighted to join the Board at this exciting time in the
Company's development as SMS continues its expansion plans. I look
forward to using my experience at John Menzies plc to help SMS to
make the most of the significant growth opportunities ahead."
Commenting on Kevin Lyon's decision and on Paul Dollman's
appointment, Alan Foy, Chief Executive of SMS, said:
"I would like to thank Kevin on behalf of the whole Board for
his contribution over the past 2 1/2 years. Our AIM listing was a
significant step in the development of the Company and I was
pleased to have a Chairman of Kevin's calibre to assist us. We wish
him every success in his other business activities.
I am delighted that Paul has agreed to join our Board and we
look forward to working with him.
It is the Board's intention to find further new Non Executive
Directors and we hope to announce additional appointments in due
course. As noted in the Interim Results published in September, SMS
continues to look forward with confidence."
The directorships and partnerships held by Mr Dollman (full
name: Paul Bernard Dollman) (aged 57) now and over the five years
preceding the date of appointment are as follows:
Current Directorships / Partnerships
Non-Executive Director of Scottish Amicable Life Association
Society
Directorships / Partnerships in the past 5 years
Name Position Appointed Resigned
Cyberstore Limited Director 01/07/2008 11/12/2012
Gray and Company Limited Director 01/07/2008 11/12/2012
James Waddell & Company Limited Director 01/07/2008 17/05/2013
John Menzies (Birmingham) Director 01/07/2008 17/05/2013
Limited
John Menzies (Bookshops) Limited Director 01/07/2008 11/12/2012
John Menzies (Edinburgh) Limited Director 01/07/2008 17/05/2013
John Menzies (GB) Limited Director 01/07/2008 17/05/2013
John Menzies (Northern) Limited Director 01/07/2008 11/12/2012
John Menzies Distribution Director 01/07/2008 17/05/2013
Limited
John Menzies European Holdings Director 01/07/2008 11/12/2012
Limited
John Menzies Games Limited Director 01/07/2008 11/12/2012
Jones Yarrell Leadenhall Limited Director 01/07/2008 17/05/2013
Jones, Yarrell & Co. Limited Director 01/07/2008 17/05/2013
Kentwood Stationery (Reading) Director 01/07/2008 11/12/2012
Limited
Lonsdale Universal Limited Director 01/07/2008 17/05/2013
Lonsdale Universal Trustees Director 01/07/2008 17/05/2013
Limited
Menzies Interactive Limited Director 01/07/2008 11/12/2012
Menzies No.1 Limited Director 01/07/2008 11/12/2012
Menzies No.2 Limited Director 01/07/2008 11/12/2012
Menzies No.3 Limited Director 01/07/2008 11/12/2012
Menzies No.4 Limited Director 01/07/2008 11/12/2012
Menzies No.5 Limited Director 01/07/2008 11/12/2012
Menzies Wholesale Limited Director 01/07/2008 17/05/2013
Menzies Worldwide Distribution Director 01/07/2008 17/05/2013
Limited
N G Morrison Limited Director 01/07/2008 11/12/2012
Porter and Tonkin Limited Director 01/07/2008 11/12/2012
Proudhound Limited Director 01/07/2008 11/12/2012
Scribes (Stationery & Cards) Director 01/07/2008 11/12/2012
Limited
Software On Demand Limited Director 01/07/2008 11/12/2012
Terry Blood Distribution Limited Director 01/07/2008 11/12/2012
THE Games Limited Director 01/07/2008 11/12/2012
John Menzies (Bond Street) Director 01/07/2008 11/12/2012
Limited
The Menzies Group Limited Director 01/07/2008 17/05/2013
Universal Direct Director 01/07/2008 11/12/2012
Universal Office Interiors Director 01/07/2008 11/12/2012
Limited
Universal Officepoint Limited Director 01/07/2008 11/12/2012
Universal Stationers Limited Director 01/07/2008 11/12/2012
John Menzies (Belfast) Limited Director 01/07/2008 11/12/2012
Menzies Distribution Limited Director 16/03/2009 17/05/2013
Menzies Group Holdings Limited Director 01/10/2002 17/05/2013
J M Nominees Limited Director 01/10/2002 17/05/2013
J M Secretaries Limited Director 01/10/2002 17/05/2013
John Menzies (108) Limited Director 01/10/2002 17/05/2013
John Menzies International Director 01/10/2002 17/05/2013
Limited
John Menzies plc Director 01/10/2002 17/05/2013
Menzies Aviation (New Zealand) Director 20/09/2004 03/02/2005
Limited
Princes Street (Jersey) Limited Director 17/12/2004 17/05/2013
Menzies Services Limited Director 20/03/2007 17/05/2013
J M Insurance Limited Director 28/03/2007 22/10/2009
John Menzies Finance Limited Director 11/06/2007 17/05/2013
John Menzies USA Holdings Director 19/03/2007 17/05/2013
Incorporated
John Menzies USA Incorporated Director 19/03/2007 17/05/2013
MCS Trustee Limited Director 02/12/2010 17/05/2013
MPF Trustee Limited Director 02/12/2010 17/05/2013
Menzies Aviation plc Director 12/10/2012 17/05/2013
John Menzies (Southern) Limited Committee 31/03/2003 17/05/2013
Employee Benefit Trust of Management
John Menzies USA Incorporated President 19/03/2007 17/05/2013
John Menzies USA Holdings President 19/03/2007 17/05/2013
Incorporated
John Menzies (Southern) Limited Trustee 31/03/2003 17/05/2013
Employee Benefit Trust
As at the date of this announcement, Mr Dollman does not have an
interest in the share capital of the Company.
There are no other matters to be announced as required under
paragraph (g) of Schedule Two of the AIM Rules.
Ends
For Further Information:
Smart Metering Systems
plc 0141 249 3850
Alan Foy, Chief Executive
Officer
Glen Murray, Finance Director
Cenkos Securities 0131 220 6939 / 0207 397 8900
Ken Fleming
Neil McDonald
Kreab Gavin Anderson 020 7074 1800
Chris Philipsborn
Anna Schoeffler
Notes to Editors
About Smart Metering Systems
Established in 1995, Smart Metering Systems plc based in
Glasgow, connects, owns, operates and maintains metering systems
and databases on behalf of major energy companies.
Currently the Company is concentrating its efforts on offering
its unique integrated services to the UK industrial and commercial
gas market in which its customers have an 80% market share.
The Company has further applications for gas with its ADM(TM)
device which allows "smart" functions such as remote reading and
half hourly consumption data to be offered to customers in addition
to the normal metering services. Longer term the company also has
additional applications for water and LPG.
The Company was admitted to the AiM market in July 2011 and is
now part of the FTSE AiM 50 index, for more information on SMS
please visit the Company's website: www.sms-plc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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