<p>After over twenty years with Porterbrook Paul Francis announces today that it is his intention to retire from his position as CEO of the Company. Paul will work with the Chairman, Phil White, and the shareholders in the coming months to manage a smooth transition for a new CEO.</p>
<p>Paul commented “I have had a fantastic journey working for Porterbrook since 1996. I have been blessed and privileged to work with some great people over the years in the rail industry. There have been many strong relationships forged and this has been very rewarding for me personally. My view is the time is now right for someone with a new perspective and a new injection of energy to take the company forward in partnership with the shareholders. I have no immediate date for leaving Porterbrook as I will be working very closely with both the Chairman and our shareholders in the coming months as we appoint a successor as CEO.”</p>
<p>Chairman, Phil White, commented “I have enjoyed working with Paul in the last eighteen months since my appointment as Chairman. Paul is greatly respected in the industry and everyone recognises the success he has had at Porterbrook in the last twenty one years. The shareholders and I wish Paul the very best in the future.”</p>