Proactive Investors - Run By Investors For Investors

21st Century Technology drops as boardroom sees further changes

21st Century Technology drops as boardroom sees further changes

Shares in vehicle technology firm 21st Century Technology (LON:C21) lost ground on Friday as it unveiled further changes in the boardroom.

Jan Holmstrom, former non-exec chairman, is stepping down from the board immediately.

The current acting finance director, Mark Elliott, will be executive chairman to work closely alongside the chief executive officer, while a new chief executive is sought.

Elliot said today: "It is with regret that Jan has informed the board that he is not able to commit sufficient time to an executive role in view of his other engagements.

"Accordingly, he has resigned with our gratitude for his contribution during the past three years.

"During this time, the company has established itself as a leading supplier of CCTV to the transportation market, realised its freehold property and subsequently made a significant capital repayment to shareholders, and instigated a dividend policy."

Yesterday, the firm announced the appointment of Jamie Cumming as a non-executive director with immediate effect, replacing David Voss, who retired from the position.

Shares dipped 3.92% to 6.125p.

View full C21 profile View Profile

21st Century Timeline

Related Articles

May 15 2019
The company’s products can be used for wireless and mobile internet applications, while its military hardware encompasses a range of tactical and specialised communications antennas
Keywords Studio
June 17 2019
Keywords has a buy-and-build strategy and has been expanding rapidly since its first acquisition in 2014.
June 27 2019
Tekcapital expects “the quickening pace of innovation” in the portfolio companies to lead to higher service revenues in the future

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use