Cyan Holdings Plc Directorate Change (6491J)
June 16 2014 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 6491J
Cyan Holdings Plc
16 June 2014
16 June 2014
Cyan Holdings plc
("Cyan" or the "Company")
Appointment of Non-Executive Director
Cyan Holdings plc (AIM: CYAN), the integrated system and
software design company delivering mesh based flexible wireless
solutions for utility metering and lighting control, announces that
Peter Mainz has been appointed to the Board as a non-executive
director of the Company with effect from 1 July 2014.
Until recently, Peter was the CEO & President of global
smart metering leader Sensus USA Inc. and this is his first
non-executive role since stepping down. Sensus is a leader in the
electricity, water and gas smart metering markets with operations
in 22 countries across 5 continents. Under his tenure the company
grew into a leading technology provider to the global utility
industry through multiple technology acquisitions, resulting in one
of the largest installed Advanced Metering Infrastructure ("AMI")
bases in the world. The growth included being part of the winning
consortium for the UK smart metering rollout for the North of
England and Scotland announced in August 2013 to connect 16M meters
to 10M homes.
Peter has over 20 years of financial and communication systems
business experience. He has a wealth of experience in both
operational and commercial roles, with an emphasis on management
roles. He has held roles at IBM and Schlumberger before joining
Invensys plc in 1999 where he served as VP Finance for various
economic zones. In 2003, he joined Sensus, which was created as the
result of a private equity spin out of a division of Invensys plc.
From January 2003 to August 2007 he served as the CFO of Sensus and
in August 2007 he was also appointed as the Executive VP of
Operations. In April 2008, he was appointed to the Board of Sensus
and took over as CEO & President.
John Cronin, Executive Chairman of the Company, commented: "We
are delighted to have Peter join the Board. I believe his
appointment will significantly enhance the Company's ability to
accelerate its strategic objectives and, in particular, its
position at the forefront of a number of emerging markets. Peter is
very well connected in smart metering, brings with him significant
experience and will no doubt assist the Company in achieving
commercial success in its chosen markets."
Peter Mainz commented: "Cyan has now established itself as a
leading supplier of smart metering solutions for emerging markets
and I'm delighted to join at this time where customer projects in
India and Brazil are now getting underway. Having spent a
substantial period of my career at Sensus, I was able to recognise
that Cyan's emerging market solution is fundamentally different and
look forward to helping the Company deliver commercial success that
will drive significant market value appreciation for
shareholders."
Peter will be at the Cyan AGM to be held on June 17(th) 2014
(http://www.cyantechnology-ir.com/html/investors/important_dates.asp)
and there will be an opportunity for shareholders to meet him.
Pursuant to the AIM Rules for Companies the following is
disclosed in relation to Peter Mainz:
Peter Mainz, aged 50, is, or has been within the past five
years, a director or partner of the following entities:
Current Directorships and Partnerships: Directorships and Partnerships
held in the past 5 years:
* None * Sensus USA Inc.
* Sensus Precision Die Casting, Inc.
* Sensus Spectrum LLC
* Smith-Blair, Inc.
* Sensus Metering IP Holdings, Inc.
* CCG, Inc.
* Sensus (UK Holdings) Ltd
* Sensus UK Systems Limited
* UGI Global Limited
* Beijing United Gas Meters Co Ltd
* Sensus Metering Systems (Fuzhou) Co., Ltd
* Sensus Precision Die Casting (Yangzhou) Co., Ltd.
* Sensus France Holdings SAS
* Sensus France SAS
* Spanner-Pollux GmbH
* Sensus GmbH Ludwigshafen
* Sensus Metering Systems (LuxCo 1) SARL
* Sensus Metering Systems (LuxCo 2) SARL
* Sensus Metering Systems (LuxCo 3) SARL
* Sensus Metering Systems (LuxCo 4) SARL
* Sensus Metering Systems (LuxCo 5) SARL
* Sensus (Bermuda 1) Ltd.
* Sensus (Bermuda 2) Ltd.
* Sensus (Bermuda 3) Ltd.
* Sensus Canada Inc.
* Sensus Chile SA
* Sensus de Mexico S. de R.L. de C.V.
* Sensus Espana SA
* Sensus Slovensko A.S.
Enquiries:
Cyan Holdings plc www.cyantechnology.com
John Cronin, Chairman Tel: +44 (0) 1954 234
400
Allenby Capital Ltd - Nominated Adviser Tel: +44 (0) 203 3942
and Joint Broker 972
Jeremy Porter/ Michael McNeilly
-------------------------
Hume Capital Securities plc - Joint Broker Tel: +44 (0) 20 7101
Jon Belliss 7070
-------------------------
Walbrook PR - Financial PR Tel: +44(0) 20 7933 8780
Paul Cornelius
-------------------------
About Cyan
Cyan is an integrated system design company delivering mesh
based flexible wireless solutions for utility metering, lighting
control & industrial telemetry. For more information, please
visit www.cyantechnology.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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