Organisational changes

28 June 2016

Uvenco UK plc ("Uvenco'' or the "Company")

Uvenco (AIM: UVEN) provides the following update concerning certain significant organisational changes:-

Financial Control

Michael Maltby, the Company's Company Secretary and Interim CFO, is leaving at the end of June 2016 and is to be replaced by Peter Goodman, also in an interim capacity until the end of the calendar year. Peter Goodman has been Group Financial Controller of the Company since March 2016.

Peter attained a degree from Magdalen College, Oxford before qualifying as an ACA in 1999 with Deloitte LLP in London. Since then he has held several senior roles in the accounting profession before most recently being the Group Financial Controller at Kimberley Rentals Group a private equity backed plant hire company.

Sales and Operations

As part of the on-going reorganisation of the Company's vending division the Company continues to establish a regional structure. Following the resignation of the Group Sales Manager these three regions of North (based in Blackburn), Midlands (based in Corby/Newport) and South (based in London) will each have their own sales team working alongside the three Depot Managers. This regional focus will ensure increasing emphasis on customer relationships, service performance and depot based profit responsibilities. The resulting structure will see the three Regional Sales Managers reporting to the CEO, while the Depot Managers will now report to Steve Cunliffe in his new role of General Operations Manager.

Audit

The Company's audit is progressing in line with our agreed timetable and it expects to announce audited financial results for the year ended 31 March 2016 during September 2016.

Sergei Kornienko, the Company's CEO commented, 'I am very pleased to be appointing Peter to head-up our finance function after demonstrating early on in his time with us that he has the skills we need to restore our financial credibility. I would also like to take this opportunity to thank Michael for his important contribution to the Company over the last 15 months.'

For further information:

ENDS