RNS Number : 6795J
08 December 2008
08 December 2008
('Hardide' or 'the Group')
Resignation of Non-Executive Director
Hardide plc (AIM:HDD), the provider of unique metal surface engineering technology, announces that today Mr David Mott has announced his intention to resign from his position as Non-Executive Director of the Group with effect from the AGM in February 2009. At the same time, Mr Mott will also resign as Chairman of the Audit Committee and member of the Remuneration Committee of Hardide plc.
David's decision is due to burgeoning demands on his time resulting from his position as Investment Director of Oxford Capital Partners.
The Board has considered carefully the need for a new non-executive director and has decided that this is not necessary as Hardide already has sufficient knowledge and experience in its existing non-executive Board members, comprising Robert Goddard, Non-Executive Chairman, Hugh Carlisle Smith, Non-Executive Director, and William Yale Zakroff, Non-Executive Director.
Robert Goddard, Chairman of Hardide plc said: 'On behalf of the Board, I would like to thank David for the very valuable contribution that he has made since he joined the Board of Hardide Coatings Limited in April 2004; particularly over the past year. His experience with young technology companies has been especially helpful. We will miss him and wish him every success with his other commitments.'
David Mott added: 'Hardide is on a growth path and my decision follows a record month of sales and profits for the group. I wish the company every success in the future.'
For further information:
Hardide provides and applies tungsten carbide-based coatings to a wide range of engineering components. The Company's patented technology is unique in that it combines both abrasion and corrosion resistant properties in one coating. When applied to components, the technology is proven to offer dramatic cost savings through reduced downtime and extended component 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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