17.11.2015

Stanley resigns from Tanfield

Roy Stanley has resigned as a director of Tanfield - the previous owner of Snorkel in which it retains a 49 percent stake - with immediate effect

The company also announced that he has given 10,218,590 shares that he owns - representing 6.8 percent of the company - to members of his family and family trusts. This leaves him and his immediate family, comprising his spouse and trusts in which they are trustees or beneficiaries - holding 5.4 percent of the company's shares.
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Roy Stanley

Chairman Jon Pither said: "As the founder of the company the board would like to warmly thank Roy for his hard work, dedication and all he has contributed to the Tanfield business. We wish him well and every success for the future."
See New director for Tanfield- Nov 16

Vertikal Comment

This is a little surprising coming a day after a new director, with whom he has a very close association, being appointed.

It is probably best that we do not comment on the statement of congratulations.