TIDMWTL
RNS Number : 9220Q
Waterlogic PLC
21 October 2013
Date: 21 October 2013
On behalf of: Waterlogic Plc ("Waterlogic", the "Company"
or the "Group")
Embargoed until: 07.00
Waterlogic Plc
Appointment of Group Chief Financial Officer
Waterlogic Plc (AIM: WTL.L), a leading designer, manufacturer,
global distributor and operator of point-of-use ("POU") drinking
water purification and dispensing systems, is pleased to announce
the appointment of Robert Bell as Group Chief Financial
Officer.
Mr Bell, age 45, joined Waterlogic in January 2012, as Director
of Accounting, responsible for the Group's financial operations and
reporting. He has previously acted as interim CFO for
Waterlogic.
Prior to joining Waterlogic Mr Bell spent eight years with
Fidessa, rising to Group Financial Controller, and two years as
European Finance Director of Wall Street Systems. Mr Bell has also
worked with a number of listed and private equity-focused
organisations including Barclays Plc and Bank of America, and
advised the debt-backed purchase of a major rolling stock company
from RBS.
Mr Bell joins the Board of Waterlogic from Friday, 18 October
2013. He is currently a director of Waterlogic USA Holdings, Inc.
There are no further disclosures required pursuant to Schedule 2,
paragraph (g) of the AIM Rules for Companies in respect of Mr
Bell's appointment.
Jeremy Ben-David, Waterlogic Group CEO, commented:
"Robert Bell brings extensive, high profile corporate
experience. I have had the pleasure of working with him for some
time and have been very impressed with his attention to detail and
process oriented approach. These skills will be of immense value to
the Company as we put in place the systems and reporting required
to support our growth ambitions."
Enquiries:
Waterlogic Plc Via Redleaf Polhill
Jeremy Ben-David, Group Chief Executive
Officer
Peter Cohen, CEO Waterlogic Commercial
Liberum Capital (Nominated Adviser Tel: 020 3100 2000
and Broker)
Steve Pearce
Richard Bootle
Tel: 0207 382 4730
Redleaf Polhill waterlogic@redleafpr.com
Rebecca Sanders Hewett / Charlie Geller
/ David Ison
Notes to editors:
Waterlogic Plc
Waterlogic Plc (AIM: WTL.L) is a leading designer, manufacturer,
distributor and operator of mains attached point-of-use ("POU")
drinking water purification and dispensing systems designed for
environments such as offices, factories, hospitals, hotels,
schools, restaurants and other workplaces. Waterlogic is a Jersey
registered company. Waterlogic's products and services are built on
the simple vision of a three stage approach to purity:
1. Filtration to remove unwanted contaminants, chlorine and
other water-borne tastes and odours.
2. Waterlogic's Firewall(TM) ultra-violet (UV) technology is one
of the most effective water purification technologies for POU water
dispenser applications currently on the market and its dispensers
are certified by the Water Quality Association as being able to
guarantee 99.9999% pure water 100% of the time, a fact which has
been confirmed by over 5,000 physical tests in independent
laboratories. The innovative Firewall(TM) technology incorporates a
highly-specialised, compact UV system in the faucet/tap, which
ensures that water passes through the UV system immediately before
it is dispensed into a cup. This point of differentiation for
Firewall(TM) is unique in the POU market.
3. BioCote silver antimicrobial protection. Plastic surfaces
surrounding dispensing areas of Waterlogic units are infused with a
silver additive called BioCote, a natural anti-microbial that
inhibits the growth of microorganisms, giving yet another layer of
hygienic defence.
Founded in 1992, Waterlogic was one of the first companies to
introduce POU systems to Europe and has been a leader in the POU
market in terms of product design and quality, the application of
new technologies and in sales and service. Waterlogic has an
extensive and expanding independent global distribution network in
place, reaching over 50 countries around the world.
Waterlogic products are currently being sold in North and South
America, Europe, Asia, Australia and South Africa. Waterlogic's
leading markets are the USA and Western Europe, in particular
Germany, France, Scandinavia and the UK. Of the 2.1 million new POU
and bottled water installations in the commercial market in the USA
and Europe between 2005 and 2012, approximately 77% incorporated
POU technology, of which approximately 29% were Waterlogic
products.
The Directors believe that the movement away from bottled water
coolers (BWC) to POU water dispensers is set to continue its
current trend as a result of cost, convenience, health benefits and
environmental considerations.
For the financial year ended 31 December 2012, the Group
generated revenues and adjusted EBITDA (adjusted for share based
incentives expense, capital reorganisation related costs and
acquisition related costs) of USD 101.0 million and USD 14.7
million, respectively, and had approximately 715,000 machines
installed as at 30 June 2013.
As part of Waterlogic's on-going commitment to providing safe
water, the Group has pledged to donate USD 225,000 over the three
years from 2012 to 2014 to WaterAid. WaterAid is a renowned
international non-profit organisation that transforms lives by
improving access to safe water, hygiene and sanitation in the
world's poorest countries. Since 1981 WaterAid has reached 15.9
million people globally with safe water. Website:
www.wateraidamerica.com
Website: www.waterlogic.com
This information is provided by RNS
The company news service from the London Stock Exchange
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