Directorate Change

RNS Number : 6316F

Hardide PLC

19 June 2012

 



Press Release

19 June 2012

Hardide plc

("Hardide" or "the Group")

Appointment of Non-Executive Director

Hardide plc (AIM:HDD), the provider of unique metal surface engineering technology, is pleased to announce the appointment of Andrew Richard Boyce (age 50) as Non-Executive Director of the Group with effect from 18 June 2012.

Andrew Boyce represents a family shareholding with a 26.5% interest in the Group's issued share capital: the family having been an investor in Hardide plc since 2003.  The Boyce family shareholding comprises the aggregate interests in the Group of Kentford Investments Limited, Boyce Investments Limited and Robert G Boyce (together "the Boyce Family").  Andrew Boyce is an experienced entrepreneur and investor, having established and operated a number of successful businesses.

Since 1987, Andrew Boyce has been involved in the management and growth of numerous family businesses.  These encompass farming, property and other commercial activities.  After graduating in 1984 with a Diploma of Agriculture and Estate Management from the Royal Agricultural College, Cirencester, Andrew worked in commercial property sales and lettings, and development site appraisal and acquisitions.

In view of the substantial shareholding that Andrew Boycerepresentson behalf of the Boyce Family, a Relationship Agreement has been executed between Hardide and the Boyce Family.  The principal terms of the agreement include that the Group is capable of carrying on its business independently of the Boyce Family and that transactions and relationships between the Group and the Boyce Family shall be at arm's length and on a commercial basis.  The agreement terminates 30 days after the Boyce Family cease to have any associates on the board of the Group.

Robert Goddard, Chairman of Hardide plc commented:  "We are extremely pleased that Andrew is joining the board.  He brings a great deal of relevant experience in growing small companies and as a long-standing investor and supporter of Hardide, he understands our business well.  We look forward to his contribution."

The following further details are given in accordance with Rule 17 and Schedule 2 (g) of the AIM Rules for Companies:

Current directorships/partnerships:

Boyce AIM Limited	Kentford Developments Limited
Boyce Equities Limited	Kentford Investments Limited
Boyce Investment Group Limited	Lodgeday Commercial Limited
Boyce Investments Limited	Lodgeday Construction Limited
BPS Buildings Limited	Lodgeday Properties Limited
BPS Equipment Limited	Malton Golf Limited
BPS (Stumps Cross) Limited	Mundford Poultry Limited
Curon Limited	Noble Enterprises Limited
GAG 334 Limited	Poultry Management Limited
GAG 335 Limited	R G Boyce Limited
GAG 339 Limited	R G Boyce Partnership
JS Newco 005 Ltd	Rous Investments Limited

Previous directorships/partnerships in the past five years:

Investamber Limited	Quron Holdings Limited
Kentford Properties Limited	Ultracomposites Limited
Lodgeday Estates Limited	Global Technologies Limited

Andrew Boyce was a non-executive director of Ultra Motor Limited until it went into administration on 7 November 2011. On 2 May 2012 Ultra Motor Limited proceeded to a creditors voluntary liquidation. The final financial position and any shortfall to creditors are not yet known.

There is no other information required to be included in accordance with Rule 17 and Schedule 2 (g) of the AIM Rules for Companies.

Ends

For further information:

Hardide plc
Robert Goddard, Chairman Jackie Robinson, Communications Manager	Tel: [phone] www.hardide.com
N+1 Brewin
Andrew Craig/Ben Wright	Tel: [phone] www.nplus1brewin.com

Note to editors

Hardide Coatings

Hardide develops, manufactures and applies tungsten carbide-based coatings to a wide range of engineering components.  The Group's patented technology is unique in that it combines abrasion, erosion and corrosion resistant properties in one coating.  When applied to metal components, the technology is proven to offer dramatic cost savings through reduced downtime and extended part life.  Customers include leading companies operating in oil and gas exploration and production, valve and pumps manufacturing, general engineering and aerospace.

 

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