Stelrad Group plc
Resignation of NED
Stelrad Group plc ("Stelrad" or "the Group" or "the Company", LSE: SRAD) announces today that Terry Miller, Non-Executive Director and Senior Independent Director, has given notice of her intention to step down from the Board and its Committees on 31 December 2023 having originally joined the Group in October 2021 as part of Stelrad's IPO.
A replacement Non-Executive Director and Senior Independent Director will be appointed in due course.
Bob Ellis, Chair of Stelrad, said:
"On behalf of the Board, I would like to thank Terry for the contribution that she has made to the Company over the past two years and we wish her well for the future."
There is no other information to be disclosed under Listing Rule 9.6.11
Enquiries
| Stelrad Group plc Trevor Harvey, Chief Executive Officer
| +44 (0)191 261 3301 |
|
Powerscourt James White / Pete Lambie |
+44 (0)7855 432 699 stelrad@powerscourt-group.com |
Notes to Editors
Stelrad Group plc is a leading specialist radiator manufacturer, selling an extensive range of hydronic, hybrid, dual fuel and electrical heat emitters to more than 500 customers in over 40 countries. These include standard, premium and low surface temperature (LST) steel panel radiators, towel warmers, decorative steel tubular, steel multicolumn and aluminium radiators.
The Group has five core brands: Stelrad, Henrad, Termo Teknik, DL Radiators and Hudevad. In the countries reported by BRG Building Solutions in 2023 to date, Stelrad moved into a market leadership position, with 18.5% share by volume of the combined UK, European and Turkish steel panel radiator market. The Group is now market leader in six countries - the UK, Ireland, France, the Netherlands, Belgium and Denmark, with a top 3 position in a further five territories.
Stelrad is headquartered in Newcastle upon Tyne in the UK and in 2022 employed 1,500+ people, with manufacturing and distribution facilities in Çorlu (Turkey), Mexborough (UK), Moimacco (Italy) and Nuth (Netherlands), with further commercial and distribution operations in Kolding (Denmark) and Krakow (Poland).
The Group's origins date back to the 1930s and Stelrad enjoys long established commercial relationships with many of its customers, having served each of its top five current customers for over twenty years.
Further information can be found at: https://stelradplc.com/.
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