FLOWTECH FLUIDPOWER PLC

("Flowtech" or the "Group")

Specialist full-service supplier of technical fluid power products and services

BOARD CHANGES

FLOWTECH ADDS TWO NON-EXECUTIVE DIRECTORS TO THE BOARD

Flowtech Fluidpower is pleased to announce the appointments of James Brooke and Ailsa Webb as Non-Executive Directors of the Group with immediate effect.

James has had successful City roles in equity and private equity fund management.  Over his 20+ year career he has gained a wealth of experience and capabilities covering investments, leadership and mentoring, M&A and business strategies, audit and consultancy.  Most recently he has been working with Hanover Investors Management LLP and, prior to this, James spent three years at Lombard Odier following the spin out of the Volantis team from Henderson Investment Management.

Ailsa has held a number of lead-operational management roles including at TNT and Brammer Buck and Hickman. Until 2019, Ailsa was Chief Operating Officer for the UK, Ireland and Iceland territories at Brammer Buck and Hickman, the UK subsidiary of Rubix Group, Europe's largest supplier of industrial maintenance, repair and overhaul products and services. In 2019, Ailsa joined HSS Hire Services, Scotland, one of the UK's largest equipment rental companies, where she is Managing Director and, in early 2021 she took over as Managing Director for ABird and Apex Power Solutions, two service business parts of HSS Group. Ailsa has a deep understanding of the industrials distribution sector, including within e-commerce where she has a wealth of digital transformation expertise driving revenue growth through e-commerce strategies. 

Roger McDowell, Chair at Flowtech commented:

"The Board remains committed to good corporate governance and ensuring there is a broad range of skill, diversity and experience that it can draw upon.  So, on behalf of my colleagues and all stakeholders we are delighted to welcome James and Ailsa to the business.  They bring additional cross-sectoral experience, strategic, analytical and transformational competences, and we look forward to working with them as a team as we continue the development of the Group."

Additional information regarding James Brooke and Ailsa Webb, pursuant to paragraph (g) of Schedule Two of the AIM Rules for Companies, is set out below.

James Brooke was a director of Flowgroup Plc, which entered into administration on 8 November 2018; the liquidation is ongoing and the shortfall to creditors is unknown at this date. James Brooke was formerly a director of Redhall Group Plc, which entered into administration on 10 June 2019; the total deficiency to creditors was £12.9m.

*This company has no links to Flowtech Fluidpower plc or its subsidiaries.

Neither James Brooke nor Ailsa Webb hold any ordinary shares in the Company

Except as disclosed in this announcement, no other disclosures are required in accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies James Brooke or Ailsa Webb.