Pan European Terminals PLC Directorate Change (1910P)
September 30 2013 - 2:03AM
UK Regulatory
TIDMPAN
RNS Number : 1910P
Pan European Terminals PLC
30 September 2013
Embargoed until 7.01am 30 September 2013
Pan European Terminals PLC
("PAN" or the "Company")
Directorate Change
Pan European Terminals plc (AIM: PAN), announces the following
changes to the composition of the board of Directors of the
Company:
Richard Healey, Chairman, Louis Castro, non-Executive Director,
and Adrian Simpson, Finance Director, have resigned as Directors
with immediate effect.
Simon Escott, currently Chief Executive of the Company, has been
appointed Executive Chairman on an interim basis, until such time
as a suitable candidate is appointed.
The Company further announces that Reg Eccles has been appointed
Senior Independent non-Executive Director with immediate effect.
Reg has sat on the boards of a number of public and private
companies over the past 13 years, including Toledo Mining
Corporation plc and Belitung Zinc Corporation plc, where he acted
as Chairman. He began his career at Anglo American Corporation of
South Africa as a business analyst, deputy Chief Economist and
finally Corporate and Financial Planning Director in Johannesburg.
In 1979, he co-founded and acted as Chairman of Claspbourne Ltd, a
consultancy and publishing company, sold in 1988. He has also held
senior positions at a number of investment banks, including, James
Capel, where he was a Director of Research and SBC Warburg, Ord
Minnett and ABN Amro, where he was Global Head of Mining
Equities
The Company expects to appoint another high calibre
non-Executive Director imminently.
The search for a full time Finance Director is well advanced
and, once a suitable candidate for such position has been
identified, the Company also expects to appoint a further non-
Executive Director.
Simon Escott, Interim Executive Chairman of PAN, commented, "We
are delighted to welcome Reg to the board. His extensive board
experience, together with his international and investment banking
credentials, leaves the Company in a strong position and provides
me with great confidence in achieving our strategic goals going
forward. We have the opportunity at this time to build a really
strong and pro-active Board and we will make sure we use this
opportunity wisely and in the best interest of all the
shareholders."
-ends-
Enquiries:
Pan European Terminals plc Tel: +44 (0)20 3145 1908
Simon Escott, Chief Executive Mob: +44 (0)7920 095 800
Westhouse Securities Ltd (Nomad and Broker) Tel: +44 (0)20 7601 6000
Richard Johnson / Antonio Bossi
Leander (Financial PR) Tel: +44 (0)7795 168 157
Christian Taylor-Wilkinson
Additional information
Reginald George Eccles, age 67, holds or has held the following
directorships and/or partnerships in the previous five years:
Current Previous
Metals Analysis Limited Toledo Mining Corporation plc
A.G. Resident Co. Limited
Mr Eccles does not currently have an interest in any PAN
ordinary shares.
Save as disclosed above, there is no further information in
relation to the appointment of Mr Eccles which is required to be
disclosed pursuant to Schedule Two paragraph (g) of the AIM
Rules.
Notes to Editors:
Pan European Terminals Plc operates hydrocarbon refined product
Storage and Transhipment Terminals in Aabenraa (Denmark),
Kaliningrad City (Russia) and Baltysk (Russia). It also leases and
operates tanks in Rotterdam (Holland). The Group presently has
approx. 400,000 Cubic Meters of tank capacity under ownership or
management, with approximately 40% of its annual profit now being
derived from its non-Russian assets. The Group has been building
critical mass in this field for three years and offers its
customers flexibility, competitive rates and excellent facilities
for storage, transhipment and bunkering services.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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