Directorate Change
2009年7月17日 - 5:24PM
RNSを含む英国規制内ニュース (英語)
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RNS Number : 8532V
Oxonica plc
17 July 2009
17th July 2009
Oxonica plc
Further Board Change
Oxonica plc ("Oxonica, the Group or the Company"), a leading international
nanomaterials group, today announces a further change to the Board, in
connection with the future strategic positioning of the Company and associated
cost reductions.
As set out in the Circular to Shareholders dated 7 July, 2009, the Company is
currently in partnership discussions in connection with all of its businesses
with a view to securing profitable platforms for growth. The structure of the
resulting relationships will be announced on completion of the negotiations,
however, it is anticipated that the outcome will be a structure in which the
Group's income will consist primarily of royalty income generated by partners'
product sales. This will simplify the Group's operations considerably and in
conjunction with the proposed delisting from AIM, will facilitate further
reductions in the Group's cost base. In anticipation of this further planned
restructuring the Chief Financial Officer, Richard Clarke, has informed the
Company of his intention to resign from the Board and will leave the Company on
29 September 2009, on the same date as Dr Kevin Matthews and Ed Weeks.
Commenting on this decision, Richard Farleigh, Oxonica's Chairman said,
"Oxonica's strategy is focused on the establishment of partnerships across the
Group's businesses and minimisation of the corporate centre. Richard has been a
valuable member of the executive team and Board over the last five years and the
Board would like to thank Richard Clarke for his contribution and wishes him
well in his future career. I intend to increase my commitment as required to
help Oxonica execute its stated strategy".
The Company is reviewing its requirements regarding the Executive Management of
the Business. However, following the restructuring it is still envisaged that
the Board of Oxonica plc will comprise Richard Farleigh as non-executive
chairman, an executive director, and George Elliott as the independent
non-executive director and audit chairman. Gordon Ringold will also remain on
the Board until such time as the Security business is successfully partnered.
For further information, please contact:
Oxonica plc 01865 856 700
Kevin Matthews, Chief Executive
Richard Clarke, Finance Director
Panmure Gordon020 7459 3600
Hugh Morgan
Andrew Potts
Notes to Editors
About Oxonica plc - www.oxonica.com
Oxonica (AIM: OXN.L) is a leading nanomaterials group with products already
launched into international markets. Oxonica's leading product is Envirox(TM)
Fuel Borne Catalyst - a nanocatalyst improving fuel economy and reducing
emissions. The Group has also developed Optisol(TM), a photostable UV protection
system designed to optimise the performance of quality sunscreens and
anti-premature ageing products, and
generates licence and development revenue from activities in the clinical
diagnostics and security markets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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