Proven Track Record to VTL Board

Smart Appointment Brings Experience And Proven Track Record to VTL Board

Electronic vending company, Vending Technologies Limited (NZSE: VTL), today announced the appointment of former Sky Television Chief Financial Officer Paul Smart to the Board as an independent director.

Dr Richard Janes, VTL Chairman, says Smart strengthens VTL’s Board at a time when the company is poised for further growth.

“VTL shareholders are very pleased to have appointed a director of Paul’s calibre. He has a wealth of business experience and his expertise in financial management and international relationships will be of great value as the company prepares to expand its operations. His experience in introducing innovative concepts to national markets will be invaluable as we roll out new programmes in the rapidly growing vending channel.”

Mr Smart, who recently stepped down as Sky Television CFO, was a key member of the team that established the pay TV industry in New Zealand through concept, development, start-up, and break even to operating profitability. In his 12 years with the company his achievements include the evaluation and implementation of the company’s digital satellite strategy and management of all funding requirements including Sky’s recent capital notes issue. Mr Smart was responsible for the investor relations programme at Sky Television and managed relationships with number of US multi-national and local corporate and entrepreneurial shareholders.

He has previously worked as a consultant advising companies on corporatisation and was CFO and a Director of Visionhire Holdings Limited.

Mr Smart holds a BBS from Massey University. His professional qualifications include Chartered Accountant, Cost and Management Accountant and he is a member of the Institute of Directors.

“As we grow the business internationally it is vital that the Board ensures the company has a strong management structure and appropriate systems in place,” says Dr Janes. “We anticipate Paul’s extensive knowledge in these areas will enable him to make significant contributions towards ensuring the success of our expansion programmes.”

In July last year VTL appointed former New Zealand Dairy Board CEO Warren Larsen to the Board as an independent director.

ENDS

About Vending Technologies Limited
Vending Technologies Limited supplies and operates electronically enhanced food and beverage vending machines throughout Australasia. Established in 1997, the company maintains and services vending machines and licenses branded electronic vending businesses under its VendSmart programme.

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