Sandal plc : Directorate change
("Sandal" or the "Company")
30 APRIL 2018
The Board of Sandal is pleased to announce that, further to the statement in the Interim Results, David Munting and Richard Green have been formally appointed as directors of the Company.
David joins the Board as Finance Director having spent over 25 years in financial roles. He started his career at Prudential Portfolio Managers (subsequently acquired by M&G Investments) where he spent almost 16 years initially in operations and then in a variety of financial and management accounting positions. In 2006 David joined Phoenix Fund Services Group an FCA regulated company, where he became Finance Director and had overall responsibility for financial management and ultimately leading the financial aspects of the group's sale to Maitland Group in June 2015, where he remained until October 2016. David is a Fellow of the Chartered Institute of Management Accountants.
Richard joins the Board as a Non-executive Director. He initially trained as a mechanical engineer and has over 30 years' experience in the software industry. He established Smallworld as a leading geographic information system companies serving utility and telecoms companies in Europe and the US, which listed on NASDAQ in 1996 and was acquired by GE in 2000 for $214 million. He subsequently co-founded Ubisense, a global leader in enterprise location intelligence solutions, which was admitted to AIM in 2011 and is currently a director of a number of early/growth stage technology businesses. Richard is a Fellow of the Institute of Mechanical Engineers, Entrepreneur in Residence at Cambridge Enterprise and a Fellow of both Judge Business School, Cambridge and of the Royal Society of Arts.
Alan Tadd CEO of Sandal commented "Both of these appointments enable us to strengthen the Board with the necessary skills and experience that will be required as the Company plans for significant growth in the next couple of years. This is an exciting time for smart home/IOT as both consumers and business increasingly recognise the opportunities that the technology provides, enabling Sandal to scale the Energenie MiHome system."
|Current Appointments||Past Appointments|
|David Munting||None||Abacus Financial Software Limited|
|Maitland Administration Services Limited|
|Maitland Central Services London Limited|
|Maitland Institutional Services Limited|
|Our Clubs Limited|
|Richard Green||8power Limted||Geospatial Systems Limited|
|Placr Limited||Ubisense Limited|
|Satavia Limited||Ubisense Group plc|
Richard Green has been granted 100,000 options to subscribe for new ordinary shares at a price of 28 pence per share, being the closing mid-market price on 27 April 2018, exercisable any time between 1 January 2021 and 31 December 2023
There is no additional information relating to David Munting or Richard Green which falls to be disclosed pursuant to paragraph 21 of Appendix 1 of the NEX Exchange Growth Market - Rules for Issuers.
This announcement contains information which, prior to its disclosure, was inside information for the purposes of Article 7 of EU Regulation 596/2014.
The directors of Sandal Plc accept responsibility for the contents of this announcement.
Sandal Plc 01279 422022
Alan Tadd, CEO
Oliver Tadd, Director
Cairn Financial Advisers LLP
David Coffman/Jo Turner 020 7213 0880
Maxine Barnes 07860 489571
Notes to editors:
Sandal plc commenced business in 1996 and joined NEX in March 2015. The Company designs, develops and manufactures consumer electronics products. Its business is divided into two distinct product groups, PowerConnections, a long established wholesaler and reseller of a successful and patented range of converter plugs and power cables, and Energenie, which sells a newer product range that includes energy saving products, portable charging devices and the new Energenie MiHome range of products aimed at the "Home Automation" and "Internet of Things" marketplace.
The range of Energenie MiHome home automation products makes the remote operation of everyday household appliances and energy monitoring more accessible through integration with smartphone and tablet connectivity. The Energenie MiHome range is also integrated with the major players in the home automation market including Google Nest and Amazon Echo. Energenie MiHome products are available through a number of mainstream retailers including Amazon, Argos and Sainsbury's. In addition Energenie also offers Eco and electrical, travel and energy saving products for homes and offices, reducing energy usage and the Home Automation sector. It has store listings for its current products with several large retailers including Homebase, Amazon, Screwfix, Toolstation and ASDA.
PowerConnections is a supplier to customers, in the UK and abroad, of single-phase electrical connection products. The products are manufactured in three partner factories in the Far East and have distributors worldwide for its range of patented converter plugs. The Company's product portfolio consists of International Power Leads, Rewireable Plugs, Converters and Connectors. These products are stocked in the Far East, Australia and UK.