TIDMZED
RNS Number : 1100E
Zenova Group PLC
28 June 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
("MAR") WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN
(WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION
IS CONSIDERED TO BE IN THE PUBLIC DOMAIN
28 June 2023
Zenova Group PLC
("Zenova", the "Company" or the "Group")
Board Changes
Zenova Group PLC (AIM: ZED) , a provider of innovative fire
safety and heat management technology and products, announces
changes to the Board and executive management team aimed at
increasing the capacity of the management team to enable them to
effectively pursue and close new business opportunities generated
by the sales team.
Zenova is entering the next stage of growth and is realigning
operational capacity to transition from R&D, testing and
certification to sales growth and customer delivery. Tony Crawley,
Chief Executive Officer, will step down from the Board and will be
assuming the role of Sales Project Director, with immediate effect.
Also with immediate effect, Thomas Melchior (the current CFO) is
hereby appointed as interim Chief Executive Officer. Thomas has a
proven track record in business strategy, expansion, change and
turnaround situations with a focus on global technology-driven,
customer-focused businesses.
Zenova has appointed Farakh Farid to the non-Board role of Chief
Financial Officer. Farakh is an experienced Chartered Certified
Accountant with Big-4 and international asset management, ed-tech,
telecoms, fintech, real estate, construction and manufacturing
experience.
Don Nicolson has chaired the Board of Directors since the
company was admitted to AIM in July 2021 and is now reverting back
to the role of Non-Executive Chairman having, in his former
executive capacity, aligned the senior management team to steer the
company towards its next phase of revenue generation and growth. In
addition, Fiona Rodford will take up the role of Executive
Vice-Chairperson, effective immediately. Fiona has had a career
spanning large global businesses both FTSE and private focusing on
people and change at Executive Board level. She has extensive
transformation and M&A experience both leading and being part
of complex transactions. She is currently the Deputy Chair of
Pilotlight.
The Company believes that these arrangements will increase its
effectiveness in increasing market penetration of Zenova's
products. Thomas Melchior, in addition to directing a more focused
sales effort, will manage the administrative, regulatory and
manufacturing tasks that increase as the operation matures. The
near-term focus of the CEO will be the delivery of increased sales
in the forthcoming 12 months combined with rigorous cost management
and improved brand recognition.
Thomas Melchior, Chief Executive of Zenova Group PLC commented:
"Zenova has established a very powerful range of solutions to the
global problems of increased fire risk as well as energy
conservation and carbon footprint reduction and we are now well
placed to provide these having fully validated our products to
support these initiatives. As our revenues increase and there is an
increasing awareness of our products the newly formed senior
executive team will drive the growth of Zenova. We are grateful to
Tony Crawley for his efforts in achieving the certification that
provides the confidence in our customer base and l look forward to
working with him in developing project sales going forward."
Zenova Group PLC Non-Executive Chairman, Don Nicolson, added:
"Tony's extensive product knowledge and his new role will allow him
the capacity to more aggressively pursue sales opportunities.
Zenova has remarkable, life-changing products and I look forward to
next stage of the business as we develop existing opportunities to
the fullest extent, grow new markets and look to deliver rapid and
sustainable sales growth."
For further information please contact:
Zenova Group PLC
Thomas Melchior, Chief Executive Officer Via Orana Corporate LLP: Anthony
Don Nicolson, Non-Executive Chairman Eastman
Tel: +44 20 3475 6834
SPARK Advisory Partners Limited (Nominated Adviser)
Matt Davis / Adam Dawes Tel: +44 20 3368 3550
SI Capital Limited (Broker) Tel: +44 1483 413 500
Nick Emerson
About Zenova Group PLC:
The Group, through Zenova Ltd, is the holder of intellectual
property that underpins a suite of fire safety and temperature
management products and technology. The product range is applicable
to industrial, commercial, and residential markets. The Group's
products include fire retardant paints, insulating paints and
render, fire extinguishing fluid and applications. Through
innovative development, and a refined formulation and development
process, Zenova provides industry leading solutions across a range
of fire protection and temperature management problems,
comprising:
Zenova FP
A water-based fire-protection paint that prevents ignition and
spread of fire. It can be used in commercial, industrial, and
domestic applications on variety of materials, from wood to
metal.
Zenova FX
Patent pending fire extinguisher filled with proprietary Zenova
Fluid (Zenova FXB) that extinguishes all types of fires, reduces
chances of re-ignition, works in cold (-15 C) conditions, is
non-toxic and does not produce harmful by-products.
Zenova IP
Thermal insulation paint that creates a thermal barrier,
provides thermal reflection of sunrays and infrared radiation,
anti-condensation, and anti-mould properties. It can be applied to
virtually any exterior or interior material, regardless of the
surface.
Zenova IR
Thermal insulation render to enhance the effectiveness of
insulation by creating a thermo shield. It fills all cavities and
gaps regardless of geometric shape and creates a vacuum - the most
effective insulator.
ZENOVA WB
A wildfire barrier fluid (applied via spray wands or aerial
drops), which provides a virtual barrier where fire simply will not
burn. Repeated tests on a variety of extremely dry wildfire fuels
(grasses, hays, brush) demonstrates the incredible fire resistance
Zenova WB provides, while remaining viable after application for
30+ days in dry conditions.
The Group has achieved this without compromising the
sustainability of natural and economical resources, including
personal health and safety, with ecologically sound products.
Further information on the Group can be found at
www.zenovagroup.com
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