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http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20091102:RnsB7221B
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RNS Number : 7221B  
  
Mortice Limited  
  
02 November 2009  
  
Mortice Plc  
  
("Mortice or the "Company")  
  
2 November 2009  
  
Directorate Change  
  
Mortice, the AIM listed and India based security and facilities management 
company, today announces that Mr. Andrew Barker, current CEO and director of the 
Company, has decided to retire. Mr Barker will  be succeeded as CEO of Mortice 
by Mr. Vaibhav Dayal, former CEO of Rotopower Projects Pvt. Ltd., which was 
recently acquired by the Group. The change will be effective as of 15 December 
2009.  
  
Mr. Barker  commented on his decision to leave:  
  
"Mortice and Tenon's initial needs were to establish and list the business, set 
the strategy and develop the service delivery platform and track record. With a 
great team effort during difficult financial times, the Company's achievements 
have been noteworthy. The overall business revenues grew by 15.3% during the 
last year. We are now providing FM services to over 100 customers pan India and 
I believe the time is now right for me to hand control to a locally-based CEO to 
manage and continue to grow the business."  
  
Mr. Vaibhav Dayal has 18 years of experience working in various sectors and 
companies including Reliance ADAG, WNS, Kale Consultants and Indian Airlines and 
Rotopower Facilities Management. He has extensive experience of managing 
Professional Services businesses in the IT and BPO sector. During this period he 
managed the European business of WNS Global Services, India's top 2 ranked BPO 
as Vice President (Business Development) for Europe. Vaibhav also co-founded 
Cognosys Software, a VC backed IT solutions company leading them to acquisition 
by Kale Consultants after successfully growing the company for 4 years before 
taking over as CEO of Rotopower to manage the business through the acquisition 
by Mortice.  
  
Commenting on the change Mr. Manjit Rajain, Chairman of Mortice, said:  
  
"We are sorry to be losing Andrew and wish him all the best for his future 
endeavors. Working with Vaibhav during the Rotopower acquisition, Andrew and I 
identified his suitability for a senior management position within the enlarged 
Mortice Group and I look forward to working with Vaibhav as we continue to build 
Mortice into the leading Indian facilities management group."  
  
The Company is seeking to make additional appointments to the board this year 
and a further announcement will be made in due course.  
  
For further information please contact:  
  
 
  Mortice Ltd                                                           
  Manjit Rajain, Executive Chairman             Tel: +91 981 800 0011   
                                                                        
  Grant Thornton Corporate Finance (NOMAD)                              
  Fiona Kindness / Robert Beenstock             Tel: +44 207 383 5100   
                                                                        
  Seymour Pierce Ltd (Broker)                                           
  Sam Tully / Nandita Sahgal                    Tel: +44 207 107 8000   
                                                                        
  Pelham PR                                                             
  Alex Walters / Francesca Tuckett              Tel : +44 207 337 1500  
  
  
Notes to Editors  
  
Mortice Limited, the India based security and facilities management company 
incorporated in Singapore, listed on AIM in May 2008. It is the holding company 
of Peregrine Guarding Private Limited (Peregrine), Tenon Property Services 
Private Limited (Tenon) and Rotopower Projects Private Limited (together 
referred to as the "Group"), an Indian Facilities Management based in Delhi, 
which was acquired by the Group in June 2009.  
  
Peregrine has been providing security services in India for 14 years, 
establishing a client base of over 450 customers and developing a strong 
pan-India presence providing manned guarding in the process. Peregrine Group had 
opened 51 branches in 23 out of the 28 Indian states and has clients in a range 
of sectors including ITES, manufacturing, pharmaceutical, banking and 
healthcare.   
  
Tenon, the facilities management arm of Mortice, was established to provide 
superior quality FM services to Peregrine client base. Tenon today operates in 
16 Indian states and employs 1200 people serving 30 clients.  
  
Rotopower was established 12 year ago and now employees over 1,600 employees 
servicing over 75 clients across 15 states in India. It provides a range of 
facilities management services that include mechanical and electrical 
maintenance services, annual maintenance contracts and housekeeping services to 
a wide range of customers. Rotopower also provides services to telecom tower 
companies for the maintenance and running of electrical equipment.  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
  END  
  
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