Network Technology - Re Directorate
October 09 1997 - 5:46AM
UK Regulatory
RNS No 9802k
NETWORK TECHNOLOGY PLC
9th October 1997
NETWORK TECHNOLOGY : NICHOLAS SOAMES APPOINTED TO THE BOARD
Network Technology PLC, the network connectivity specialist based in Sussex,
has appointed the Hon. Nicholas Soames, the conservative MP for Crawley since
1983 and Mid Sussex since May 1997, as a non-executive director with immediate
effect.
The former minister of state for the armed forces, ministry of defence (1994-
97), Mr Soames was an assistant director at Sedgwick Group (1976-82) before
entering parliament. Prior to his ministerial appointment he was pps to the
minister of state for employment (1984-85); to the secretary of state, DoE
(1987-89); and to the secretary of state, DTI (1989-90). His penultimate
government appointment was parliamentary secretary, MAFF (1992-94).
Commenting on this appointment Klaus Bollmann, chief executive of Network
Technology, said: "We are delighted that Nicholas Soames is joining our board.
His wide commercial experience and excellent contacts will add an extra
dimension to our strategy and business development."
Enquiries to:
Klaus Bollmann Network Technology Tel: 01444 870408
Duncan Barkes Network Technology Tel: 01444 870408
Kyoko Macdonald Network Technology Tel: 01444 870408 (Japanese
enquiries)
Leo Cavendish Bankside Consultants Tel: 0171 220 7477
Background Note:
1996 July Network Technology raises around #5m net and floats on AIM.
Nov 1996 preliminary results: turnover up 70% to #14.5m and pre-tax
profits slightly ahead of the prospectus forecast at #3.33m
(#1.08m).
1997 Jan NT acquires unquoted US technology company JRL Systems Inc of
Austin, Texas for $4.8m.
May 1997 interim results: turnover up 26% to #8.54m and pre-tax
profits up 29% to #1.81m.
Jul NT agrees to buy unquoted US manufacturer Nextus Inc. of
Georgetown, Texas for $625,000 (purchase completed in September
1997).
Aug NT raises #4.75m net through a placing and open offer, and is
admitted to the Official List.
Sept Paul Cottrell appointed finance director.
Nov NT expects to announce its 1997 preliminary results on 25
November.
END
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