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Proventec Plc: Board Changes

Published on 2005-08-31. Author : SpecialChem

LONDON, UNITED KINGDOM -- Proventec Plc ("Proventec" or "the Company")(AIM:PROV.L), a provider of specialist cleaning and coatings technologies, announces that following last week's acquisitions that two of its non-executive directors, Dr Pavel Shashkov and Dr Yuri Zhuk are stepping down from the board of Proventec with immediate effect to join Flintstone Management Services Limited ("FMS"), a wholly owned subsidiary of Proventec.

Dr Shashkov is the Technical Director at Keronite Limited, a company which has invented and markets a process for creating hardened surfaces on aluminium, magnesium and titanium and of which Proventec owns 12.57 per cent. Dr Shashkov is stepping down from Proventec to concentrate on the development of Keronite.

Dr Zhuk is similarly stepping down to dedicate his efforts to Proventec's flagship investee company, Hardide plc, where he is Technical Director. Hardide floated on AIM on 4 April 2005 having successfully raised Pounds Sterling 1.41 million net of expenses on its initial public offering.

David Chestnutt, Chief Executive of Proventec, commented: "Pavel and Yuri have each contributed a great deal of technical scientific and Russian expertise to Proventec, which has been invaluable and they will continue to do so in their new roles at FMS."

Source: Proventec Plc


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