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Embargoed for 7am

27 April 2009

Maxima Holdings plc ('Maxima' or 'the Company')

Appointment of Chief Executive, Group Finance Director and other board changes

Maxima Holdings plc, (AIM: MXM) the integrated IT Solutions and Managed Services Company is pleased to announce the following board changes with immediate effect:

• Appointment of Graham Kingsmill, formerly Chief Executive of Netstore plc as Chief Executive;

• Appointment of David Memory, formerly Chief Financial Officer of Netstore plc as Group Finance Director;

• Kelvin Harrison, Chief Executive of Maxima since its flotation in 2004 moves to the position of Chairman and will continue to be actively involved in the Company's development;

• Michael Brooke, Chairman since flotation becomes Senior Independent Director;

• John Taylor as previously announced has resigned as Group Finance Director and will be leaving the Company on 31 May 2009.

Graham Kingsmill (49) was Chief Executive of Netstore plc, then an AIM listed company, from July 2007 until its acquisition by 2e2 Group in October 2008. Netstore provided IT Application Management, Hosting and Security Services. He was previously Managing Director (UK and Ireland) of SAP, a provider of enterprise management software to many of the worlds largest companies  Prior to that, Graham held senior sales and general management positions with IBM, PTC and Intergraph, primarily in the area of computer aided design tools.  He currently holds no other directorships and holds no shares in Maxima Holdings plc.  

David Memory ACA (49) was Chief Financial Officer of Netstore plc from September 2007 until its acquisition by 2e2 Group. He was previously Group Finance Director of Tie Rack plc/Ltd from 1995 until 2007. During that time, he played a leading role in the privatisation of the business and then its subsequent private sale in 2007 and also in adding new fascias to the Tie Rack group, both through an acquisition and partnership with other brands.  David qualified with Deloitte Haskins & Sells (now PricewaterhouseCoopers) and stayed with the firm for 15 years working in audit, internal risk management and on advisory work. He currently holds no other directorships and holds no shares in Maxima Holdings plc.  

Graham and David worked together to achieve a substantial improvement in shareholder value at Netstore plc in the 11 months from September 2007 to the level of the sale in an offer valued at £58m to 2e2 Group.

Kelvin Harrison, Chairman of Maxima said: 

'I would like to take this opportunity to welcome Graham and David to Maxima and thank Mike for his considerable input at the helm of the Company for the past five years. With Graham and David's appointments we are both strengthening our senior team and bringing new skills to the Group. We look forward to working together to further develop the Maxima business over the coming months and years.' 

For further information, please contact:

Maxima Kelvin Harrison	01242 211211
Cenkos - Nominated Advisor to the Company  Stephen Keys	020 7397 8926
Smithfield Tania Wild / Reg Hoare	020 7360 4900

Listed below are the names of companies of which Graham Kingsmill has been a director at any time in the past five years. He is no longer a director of any of these companies:

Netstore Limited (formerly Netstore plc)

Netstore Security Ltd

Oakmore Holdings Ltd

GW 1264

System Software Solutions

SAP (UK) Ltd

SAP Ireland Limited

Listed below are the names of companies of which David Memory has been a director at any time in the past five years. He is no longer a director of any of these companies:

Netstore Limited (formerly Netstore plc)

Netstore Group Ltd

Gantock Business Solutions Ltd

Netstore (UK) Ltd

Netconnect (UK) Ltd

Netconnect e-commerce Ltd

Netconnect International Ltd

Netstore Security Ltd

Netstore Systems Ltd

Netconnects Ltd

Renaissance Virtual Software Ltd

Electricmail Ltd

Cassium Technologies Limited

Netstore Managed Services Limited (formerly Netstore Managed Services PLC)

Oakmore Holdings Ltd

GW 1264

System Software Solutions

Frangi Investments Limited

Tie Rack Limited

Tie Rack Trading Limited

Frangi Handbags Limited

Frangi Accessories Limited

Frangi Luggage Limited

Frangi Card Services Limited

Associated Investments Limited

Vitek Limited

Tie Rack Belgium SA

Tie Rack Espana SA

Tie Rack Holland BV

Tie Rack Luxembourg SA

Tie Rack Denmark AS

Tie Rack Japan Co Ltd

Tie Rack Portugal LDA

There are no other details to be disclosed under Schedule 2(g) of the AIM Rules.

Notes to editors:

Maxima Holdings plc floated on AIM in November 2004 at an issue price of 110p. It was established to acquire businesses supplying IT solutions and services, with the objective of building a focused IT services group. On flotation it immediately acquired Azur Holdings Ltd, bringing together a management team with the skill, experience and incentive to deliver significant shareholder value, through a combination of acquisitive and organic growth. The business implements and supports enterprise software solutions for mid-sized, UK-based manufacturing, distribution and service organisations. These solutions are based upon leading software suites as well as products developed in-house.

It has since made a further eleven acquisitions:

• August 2005 - Ringwood Group plc, a specialist in content and document management solutions, based on Microsoft technologies;

• September 2005 - Hanston Technology Partners Ltd, a fast growing managed services business providing applications support and consultancy services to Oracle users;

• January 2006 - The MFG/PRO business of Seabrook Research Ltd, the sole Irish distributor of MFG/PRO, a manufacturing package for which Maxima was already the sole UK distributor;

• May 2006 - QED Business Systems Ltd, which provides managed services for critical mainframe and mid-range computer systems and applications software; 

• October 2006 - Cognition Solutions Ltd, provider of enterprise software solutions to the construction and facilities management sector; 

• November 2006 - IIL (Intertech Solutions Ireland) Ltd, which provides IT infrastructure solutions and managed services based upon Citrix technologies; 

• March 2007 - SevenThree Ltd, supplier of customer relationship management software solutions to the construction sector;

• May 2007 - 3net Limited, an IT Services business, providing consultancy, solutions delivery and managed services in networking and security infrastructure; 

• July 2007 - Centric Networks Ltd, which provides managed services for infrastructure software to a broad range of clients in the mid-market; 

• January 2008 - Eclectic Group Limited, which supplies software, consultancy, support and training in the areas of Business Intelligence and Corporate Performance Management (CPM); and

• July 2008 - DXI Networks Ltd, a provider of converged Information and Communications Technology (ICT) services to business customers

Maxima has grown to become an IT systems integration and managed services company with a proven track record of delivering innovative and flexible IT solutions and services. Maxima's in-depth knowledge of industry and business, coupled with its skills and understanding of leading software suites such as Oracle, Microsoft and SAP ensures its solutions and services deliver real business benefits. The group prides itself on the quality of its service, which leads to strong customer relationships and high retention rates.

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