Board Appointment
June 08 2010 - 1:00AM
UK Regulatory
TIDMPOS
RNS Number : 2051N
Plexus Holdings Plc
08 June 2010
Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services
8 June 2010
Plexus Holdings PLC ('Plexus' or 'the Company')
Board Appointment
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business
and owner of the proprietary POS-GRIP method of wellhead engineering, is
pleased to announce the appointment of Geoff Thompson as a Non-Executive
Director to the Board with immediate effect.
Geoff Thompson has nearly 35 years' experience in the international oil and gas
arena as a consultant, specialising in the field of wellhead equipment including
high pressure high temperature ('HP-HT') wells. For the past 29 years Geoff has
been contracted as an independent consultant and specialises in advising
international operators and oil service companies on well equipment and all
mechanical aspects of well design and technology. This includes advising on
surface wellheads and xmas trees; mudline suspension systems; Oil Country
Tubular Goods (casings, tubings, liners, connectors), subsea wellheads, and
casing tieback systems for both mudline suspension and subsea wellhead systems.
Importantly Geoff has an established relationship with Plexus having previously
worked on an independent basis with the Company on wellhead equipment design and
technical support.
Plexus' CEO Ben Van Bilderbeek said, "Geoff's wealth of experience within the
international oil and gas arena, particularly in the field of HP/HT technology,
will undoubtedly help raise Plexus' profile as we reach a pivotal stage in our
development towards POS-GRIP wellhead technology becoming a new industry
standard for wellhead design. With recent events highlighting the need for
safer operating practices within the oil and gas industry, I believe the time is
right to raise the awareness of our technology, as a new method of engineering,
with the potential to provide unconventional solutions for unconventional
applications. In this vein, Plexus is campaigning to have friction-grip
technology more widely recognised by international regulators and standards
agencies as an alternative to conventional technologies.
"Geoff will spearhead this effort as a non-executive Board member, with a
special portfolio for standards, and the brief to represent the Company in its
relationships with ISO, API, and CEN. We are very fortunate to have Geoff join
our Company at this stage of our development, and wish him well in his new
role."
The information in relation to Geoff Thompson which is required to be disclosed
pursuant to Schedule 2 paragraph (g) (i) - (viii) of the AIM Rules is as
follows:
(i) Geoffrey Edmund Thompson aged 55
(ii) Current Directorships:
Tech. Spec. Consultants Ltd
Past directorships in the previous 5 years:
None
Save as disclosed above, there is no information in relation to the appointment
of Geoff Thompson which is required to be disclosed pursuant to Schedule 2
paragraph (g) of the AIM Rules.
The Company also announces that on 8 June 2009 it granted an award of share
options under the 2005 Share Option Scheme ('the Scheme') to Geoff Thompson to
acquire up to 100,000 ordinary shares of 1p each in the Company ('Shares') at a
strike price of 60p per Share. The exercise of these options is subject to
timing and performance criteria set out in the Scheme.
**ENDS**
For further information please visit www.posgrip.com or contact:
+---------------+------------------------+-------------------+
| Ben van | Plexus Holdings PLC | Tel: 020 7589 |
| Bilderbeek | | 8555 |
+---------------+------------------------+-------------------+
| Graham | Plexus Holdings PLC | Tel: 020 7795 |
| Stevens | | 6890 |
+---------------+------------------------+-------------------+
| Jon | Cenkos Securities plc | +44 (0)20 7397 |
| Fitzpatrick | | 8900 |
+---------------+------------------------+-------------------+
| Ken Fleming | Cenkos Securities plc | +44 (0)131 220 |
| | | 6939 |
+---------------+------------------------+-------------------+
| Felicity | St Brides Media & | Tel: 020 7236 |
| Edwards | Finance Ltd | 1177 |
+---------------+------------------------+-------------------+
Notes to Editors:
Plexus, which began trading on AIM in December 2005, is an established oil and
gas engineering and services business which supplies wellhead and mudline
suspension equipment for exploration and production applications based in
Aberdeen, with an office in London, Cairo, Kuala Lumpur and a presence in
Houston, Texas. It has developed and patented a method of engineering for oil
and gas field wellheads and connectors, POS-GRIP, which involves deforming one
tubular member against another to effect gripping and sealing.
POS-GRIP wellhead systems have to date been used or selected to be used in over
140 oil and gas wells by international companies including BHP Billiton, BG
International, Bowleven plc, BP, Brunei Shell Petroleum, Cairn Energy, Centrica,
ConocoPhillips, Dubai Petroleum, GDF SUEZ, Global Santa Fe, Maersk, Petro-Canada
Trinidad & Tobago, Red Sea Petroleum Operating Company, Repsol, RWE, Senergy
Limited, Shell Egypt, StatoilHydro, Silverstone Energy, Talisman Energy, Tullow
Oil, and Wintershall.
The Company plans to accelerate the roll out of POS-GRIP technology as a
superior alternative to current wellhead technology. It has particular
advantages in HP/HT (High Pressure/High Temperature) and X-HP-HT (Extreme High
Pressure/High Temperature) oil and gas environments for which there is
increasing demand throughout the world. The Company's long-term goal is to
develop POS-GRIP technology as the future industry standard for wellhead design.
This objective includes the distribution of POS-GRIP technology through
licensees to maximise market penetration.
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOABRGDLSGGBGGR
Plexus (LSE:POS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Plexus (LSE:POS)
Historical Stock Chart
From Jul 2023 to Jul 2024
