OPE Optare

TIDMOPE

RNS Number : 5479A

Optare PLC

21 February 2014

Optare plc

("Optare" or the "Company")

Board Changes

The Company is pleased to announce that Mr Gopal Mahadevan has been appointed to the Board as Non-Executive Director with immediate effect.

Gopal Mahadevan, 47, an Indian citizen, is currently CFO for Ashok Leyland Ltd. Gopal is a Chartered Accountant and a Company Secretary with 25 years' experience in finance function across a variety of industries. He started his career with the TTK Group and then moved to Sanmar Group where he progressed to head Finance for their PVC business. He later joined Sify Limited to head Mergers and Acquisitions, Legal and Nasdaq Compliances, following which he joined Amara Raja Batteries as Group CFO. Prior to his appointment to Ashok Leyland, Gopal was CFO of engineering company Thermax Limited.

Optare also announces that Mr Jorma Halonen has stepped down from the Board. John Fickling, Chairman, commenting said: "We are grateful to Jorma for his contributions to the Company, thank him for all his advice and efforts and wish him well for the future. We are delighted to welcome Gopal to the Board, who brings a wealth of financial experience and will be a great asset to the Company".

Mr Mahadevan is or has been director of the following companies within the previous 5 years:

Automotive Infotronics Ltd

Nissan Ashok Leyland Technologies Ltd

Ashok Leyland Nissan Vehicles Ltd

Ashley Services Ltd

Ashok Leyland Wind Energy Ltd

Ashok Leyland John Deere Construction Equipment Company Pvt Ltd

Defiance Technologies Ltd

Gulf Ashley Motor Ltd

Lanka Ashok Leyland Ltd

Ashok Leyland (UAE) LLC

Thermax Engineering Construction Co Ltd *

Thermax Instrumentation Ltd *

Thermax Onsite Energy Solutions Ltd

Thermax Sustainable Energy Solutions Ltd *

Thermax Babcock & Wilcox Energy Solutions Pvt Ltd *

Thermax Europe Limited

Danstoker (UK) Limited*

Adyar Property holding Company Private Ltd

*Past Directorships

Save as disclosed above there are no additional disclosures to be made in accordance with paragraph (g) of Schedule 2 of the AIM rules.

For further information please contact:

   Optare plc                                   Tel: +44 (0) 8434 873 200 
   Enrico Vassallo -   CEO 
   Cenkos Securities plc                  Tel: +44 (0) 20 7397 8900 

Stephen Keys/Camilla Hume

Optare

Optare is a leading British manufacturer of urban buses with a modern assembly facility near Leeds, Yorkshire, employing more than 400 people. Its award-winning range of buses feature an integral design and efficient diesel engines, plus an industry-leading choice of electric and hybrid units utilising the latest low carbon technology.

The Optare Group PLC part of Ashok Leyland, one of the top five global bus producers, and part of the Hinduja Group.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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