REG - Sondrel (Holdings) - Directorate Changes

Sondrel (Holdings)Announcement

18/06/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240618:nRSR7805Sa&default-theme=true

RNS Number : 7805S  Sondrel (Holdings) plc  18 June 2024

18 June 2024

 

Sondrel (Holdings) plc

("Sondrel", the "Company" and together with its subsidiaries the "Group")

 

Directorate Changes

 

Sondrel (AIM: SND), a leading provider of ultra-complex chips for leading
global technology brands, announces that, following completion of the
Company's recently announced fundraising to raise gross proceeds of £5.6
million, David Mitchard and Miles Woodhouse have been appointed to the Board
of Company with immediate effect.

 

David Mitchard has been appointed as Non-Executive Chairman of the Company.
Having first joined Sondrel as Interim Chief Executive Officer in March 2024,
David Mitchard will also remain in his existing Interim Chief Executive
Officer role until such time as John Chubb joins Sondrel as Sondrel's Chief
Executive Officer on 18 July 2024.

 

David Mitchard has more than 20 years' experience in leading large corporate
divisions in complex engineering environments and successfully implementing
turnaround strategies. Most recently, David was Managing Director of Maritime
Services at BAE Systems. David brings with him a wealth of experience which
the Company believes will benefit its ability to execute the transformation of
its business.

 

Miles Woodhouse has been appointed as a Non-Executive Director of the Company.
Miles is currently Executive Director of Rox Equity Partners Limited, the
Company's largest shareholder and brings extensive experience in building
businesses from his years as an entrepreneur and director on the boards of
various UK technology groups. He has particular expertise in turning
operations around through shaping strategy and making tactical acquisitions.
Prior to joining Rox Equity Partners Limited, Miles was the Chief Technology
Officer of a £3bn subsidiary of a global defence business.

 

A further announcement in relation to John Chubb's appointment to the Board
will be made in due course.

 

For further information:

 

 Sondrel (Holdings) plc                                        Via Buchanan
 David Mitchard, Interim CEO                                   Tel: +44 (0) 20 7466 5000
 Nick Stone, Interim CFO

 Cavendish Capital Markets Limited                             Tel: +44 (0) 20 7220 0500
 Ben Jeynes / Katy Birkin / George Lawson - Corporate Finance
 Michael Johnson - Sales

 Buchanan Communications                                       Tel: +44 (0) 20 7466 5000

 

 

 

The directorships and partnerships currently held by David Mitchard, aged 58,
and over the five years preceding the date of his appointment, are as follows:

 

 Current directorships / partnerships  Previous directorships / partnerships
 LZN Services Limited                  KBS Maritime Limited
                                       BAE Systems Surface Ships (Holdings) Limited
                                       Techmodal Limited
                                       BAE Systems Integrated System Technologies (Overseas) Limited
                                       BAE Systems Surface Ships Support Limited
                                       BAE Systems Surface Ships Integrated Support Limited
                                       BAE Systems Surface Ships Maritime Limited
                                       BAE Systems Integrated System Technologies Limited
                                       Techmodal Ventures Limited
                                       Dividend Training Limited
                                       BAE Systems Project Services Limited
                                       BAE Systems Surface Ships Limited
                                       BAE Systems Deployed Systems Limited

 

 

David Mitchard holds 554,138 ordinary shares in the Company, representing
0.32% of the Company's issued ordinary share capital.

 

The directorships and partnerships currently held by Miles St Philip Endean
Woodhouse, aged 50, and over the five years preceding the date of his
appointment, are as follows:

 

 

 Current directorships / partnerships         Previous directorships / partnerships
 33, Maclise Road Management Company Limited  Lyra Health International Limited
 Alula Insurtech Ltd                          Lyra International Holdings Limited
 Alula Technologies Ltd                       Woodpecker Management Limited
 Woodpecker International Limited
 Rox Equity Partners Limited
 Liveguard Ltd
 Myliveguard Ltd

 

 

Miles Woodhouse was appointed as a director of Myliveguard Ltd on 31 May 2013.
Myliveguard Ltd appointed a liquidator on 8 December 2023.

 

Miles Woodhouse is Executive Director of Rox Equity Partners Limited, a
company in which he has a beneficial interest. Rox Equity Partners Limited
holds 85,000,000 ordinary shares in the Company, representing 49.29% of the
Company's issued ordinary share capital.

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAFZGMVLNDGDZM