This announcement contains inside
information for the purposes of Article 7 of Regulation (EU) No
596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR").
15 November 2024
Equipmake Holdings
PLC
("Equipmake" or the "Company"
or the "Group")
Directorate
Change
Equipmake, a market leader in
engineering-driven differentiated electrification technologies,
products and solutions across the automotive, truck, bus and
speciality vehicle industries, announces that Tony Ratcliffe, Chief
Financial Officer, Executive Director and Company Secretary, has
resigned from the Company, effective 30 November 2024.
Since joining the Company in April
2024, Tony has supported in refining the Group's strategy, in
securing an additional financing round of £3 million, which closed
earlier this month, and in revision of operating cost base as the
strategic focus is evolving to the supply of high value EV
components, drivetrain solutions and in licencing of its core
technology and knowhow.
The Company plans to commence the
search for a new Chief Financial Officer and in the meantime, it is
anticipated that Tony will be available to provide strategic
financial support on a consulting basis. Day-to-day finance
activities will continue to be led by Laurence Moore, Head of
Finance, who is FCCA qualified and has a strong and relevant
background within the electronic components sector. He joined
Equipmake in May 2024.
Laurence Moore will be appointed as
Company Secretary effective from 30 November 2024.
Ian Foley, CEO
of Equipmake said: "I
would like to thank Tony for his support this year and for the
on-going flexible support he will be able to provide to Equipmake.
The Board as a whole appreciate the financial clarity and
leadership he has provided and particularly appreciate his
expertise in helping to secure the recent financing round
and wish him well as he pursues his future
career."
**ENDS**
For further
information, please contact:
|
Equipmake
Ian Foley, CEO
Tony Ratcliffe, CFO
|
Via St Brides Partners
|
|
Panmure
Liberum (Corporate Adviser & Joint
Broker)
James Sinclair-Ford / Josh Moss
Mark Murphy / Sam Elder
VSA Capital
Limited (Joint Broker)
Simon Barton / Alex Cabral
|
Tel: +44 (0) 20 7886 2500
Tel: +44 (0) 20 3005 5000
|
|
St Brides
Partners (Financial PR
Adviser)
Susie Geliher / Paul Dulieu / Will
Turner
|
Tel: +44 (0) 20 7236 1177
equipmake@stbridespartners.co.uk
|
About
Equipmake
Equipmake is a UK-based industrial technology company specialising in the
engineering, development and production of electrification products
to meet the needs of the automotive and other
sectors in support of the transition from fossil-fuelled to
zero-emission drivetrains.
Equipmake is a leader in high
performance technologically advanced electric motors, inverters and
complete zero-emission electric drivetrains and power electronic
systems. Equipmake has developed a
vertically integrated solution providing fully bespoke solutions to
its customers. The Company is focussed on accelerating traction
with OEM and Tier 1 suppliers in relation to higher margin
component and drivetrain supply under long-term growth contracts
and securing high margin licencing transactions.
Key differentiators of the Company
offerings are its advanced technology and performance, reliability
and adherence to ASIL-D1 functional safety. Equipmake's
advanced motor and inverter technology, featuring ASIL-D
compliance, are designed to customers' highest Functional Safety
standards. With decades of experience in electric drivetrain
integration and a dedicated prototype vehicle testing facility,
Equipmake can significantly accelerate product development for
customers.
1Automotive Safety Integrity Level ("ASIL") is a risk
classification scheme defined by the ISO 26262 - Functional Safety
for Road Vehicles standard and is a critical requirement for road
vehicles. Of the four ASILs identified by the standard, ASIL-D
dictates the highest integrity requirements on the product,
which