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Directors' profiles and Board Committees

 

Board Composition

The Board comprises one executive Director and three non executive Directors (including the non-executive Chairman).
The Directors are:

  • Jeremy Hamer, Non executive Chairman, Audit & Remuneration Committee Member
  • Sergey Kornienko, Chief Executive Officer
  • Boris Berlotserkovsky, Non executive director, Remuneration Committee Member
  • Michael Jackson, Non executive director, Audit Committee Member

 

Biographies

Jeremy Hamer, FCA has a unique professional background, which blends an early successful career in financial services and then the food industry, with a more recent array of mergers, acquisitions, fundraising and turnaround experience, with a prime focus on the AIM market. He currently acts as a non-executive director across a portfolio of publicly quoted companies, as well as being an active Board level executive coach.

Michael Jackson, MA FCA founded Elderstreet Investments Limited in 1990 and is its executive chairman. For the past 24 years, he has specialised in raising finance and investing in the smaller companies quoted and unquoted sector. From 1983 until 1987 he was a director and from 1987 until 2006 was chairman of FTSE 100 company The Sage Group plc. He was also Chairman of PartyGaming plc, another FTSE 100 company. He is Chairman of Netcall Plc and Advanced Computer Software Plc. He is also a director of Elderstreet portfolio companies, Fords Packaging Systems Limited, Baldwin & Francis Holdings Limited, AngloInfo Limited, and Access Intelligence plc. Michael studied law at Cambridge University, and qualified as a chartered accountant with Coopers & Lybrand before spending five years in marketing for various US multinational technology companies.

Boris Belotserkovsky, is both a Russian and US citizen is Chairman and sole owner of Uvenco (www.uvenco.ru), Russia's leading vending company. He also has material shareholdings in Oplata LLC and Transvend CJSC which are both involved in vending. Mr Belotserkovsky is a President of the Russian National Vending Association and a Managing Director and a member of the executive committee of the European Vending Association.

Sergey Kornienko, has been the Chief Executive of Uvenco Group, a Russian manufacturer and operator of vending machines and other retail payment equipment, since 2009, having been its Chief Financial Officer since 2007. Prior to this he had been Head of Tax and subsequently CFO of Unicum Group since 2005. Previously, Sergei had been Chief Accountant of the Russian branch of IHS Energy (1999-2005) and of AO Mair (1995-1999) having graduated from the Academy of Finance, Moscow in 1998 with a PhD in Finance.

 

Audit Committee

The Audit Committee is responsible for ensuring that the financial performance of the Company is properly reported on and monitored and for meeting the auditors and reviewing the reports from the auditors relating to accounts and internal control systems. It meets once a year with the auditors without executive board members present. The Audit Committee comprises of Michael Jackson as Chairman and Jeremy Hamer.

 

Remuneration Committee

The Remuneration Committee reviews the performance of the executive Directors and sets and reviews the scale and structure of their remuneration and the terms of their service agreements with due regard to the interests of Shareholders. In determining the remuneration of executive Directors, the Remuneration Committee seeks to attract and retain executives of the highest calibre. The Remuneration Committee also makes recommendations to the Board concerning the allocation of share options to employees. No Director is permitted to participate in discussions or decisions concerning his own remuneration. The Remuneration Committee comprises of Jeremy Hamer as Chairman and Boris Berlotserkovsky.