Appointment of Group MD
Reliance Security Group PLC
23 May 2005
Reliance Security Group plc ('Reliance')
Appointment of new Group Managing Director
The Directors of Reliance are pleased to announce the appointment of Julian
Nicholls as Group Managing Director with effect from 13 June 2005.
Mr Nicholls has extensive experience of managing substantial companies providing
business-to-business services. He was previously managing director of the
facilities management and support service businesses within BET and of the
European moving services business within National Freight Corporation, and more
recently has been chief executive of two venture capital backed groups.
Commenting on the appointment, Brian Kingham, Chairman, said:
'Julian brings to Reliance a record of success as a strategist and developer of
businesses. We have reached a scale and diversity within growing markets which
offer unique opportunity to create higher added value products and services
where Julian has special skills.'
Note:
Reliance is an established market leader in the provision of contract security,
facilities management, support services and in business process outsourcing.
Reliance employs over 12,000 people from a network of offices throughout the UK.
Enquiries:
Brian Kingham 020 7730 9716
Chairman
Jeremy Simon 01895 205036
Company Secretary
Regulatory Disclosure
There are no details needing disclosure for Julian Nicholls under paragraph 16.4
of the Listing Rules other than as set out below in respect of paragraph 6.F.2(d).
In September 2003, Julian Nicholls was appointed to the boards of The Pimpernel
Group Limited and its subsidiary companies ('Pimpernel'). Pimpernel, a privately
owned group, was the largest manufacturer and distributor of table mats in the
UK (Turnover: £23m for the year to 31 December 2003). His role was to try and
restore its financial position following an unsuccessful management buy-out.
By the end of October 2004, despite having made considerable progress in
stabilising the group, it became apparent that Pimpernel would not be able to
continue to service its debt and that the preferred course of action for its
stakeholders was to sell the underlying business.
A purchaser was ultimately identified and the sale completed in February 2005.
In view of the scale of Pimpernel's debt, there were no offers for its share
capital and the sale was accordingly completed through the medium of an
administrative receivership. The receivership has yet to be closed but, since
Julian Nicholls took office, the position of Pimpernel's creditors has
substantially improved and the jobs of its workforce have been preserved.
This information is provided by RNS
The company news service from the London Stock Exchange
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