MICROSAIC SYSTEMS PLC

Board/Management Information • Dec 19, 2017

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 7196Z

Microsaic Systems plc

19 December 2017

19th December 2017

Microsaic Systems plc

("Microsaic" or the "Company")

Directorate Change

Microsaic Systems plc (AIM: MSYS), the developer of chip-based mass spectrometry ("MS") instruments designed to improve the efficiency of pharmaceutical R&D, is pleased to announce the appointment of Peter Grant MA (Oxon.), FCA to the position of Non-Executive Chairman, with effect from January 1, 2018.

Peter comes from a background in pharmaceuticals, electronics, engineering and financial services, where he has a successful track record of commercialising technology, high growth, turnarounds, working capital reductions and mergers and acquisitions. His skills and experience are expected to be particularly relevant to Microsaic as it progresses into the next stages of development.

Mr Grant has had an executive career spanning 40 years, nearly half at listed company board level, as CEO/CFO, including both London main market (up to FTSE 250) and AIM. His executive career included CEO of Skyepharma PLC, which, during his tenure, was transformed onto a strong growth path, CFO of Skyepharma PLC, Group Finance Director at Eurodis Electron PLC, Chief Financial Officer at WorldPay Group plc, Group Chief Executive at Molins PLC and Finance Director at Molins PLC. Prior to this he held a variety of senior commercial, financial and general management roles in the General Electric Company PLC group of companies.

Peter will chair the Finance and Audit Committee, and be a member of the Remuneration Committee of the Company.

Peter is Chairman of LiDCO Group Plc, Non-Executive Director and Chair of the Audit and Risk Committee of Abzena plc, and a Non-Executive Director of Labatec Pharma SA.

Eric Yeatman will step down as Interim Chairman of the Board with effect from 1 January 2018, and will remain a Non-Executive Director, Chairman of the Remuneration Committee, and member of the Finance and Audit Committee.

Glenn Tracey, CEO of Microsaic Systems plc, commented:

"We are delighted to welcome someone of Peter's calibre to the board as Chairman. We look forward to benefitting from the breadth of Peter's business experience and industry knowledge. I would like to take this opportunity to thank Eric Yeatman for acting as Interim Chairman since 31 January 2017."

Peter Grant commented:

"I am looking forward to joining such an innovative company and working with Glenn and the rest of the team to achieve Microsaic's potential. We will ensure that we have the right mix of skills and experience needed, have simple and transparent structures and importantly that we put our innovation and clients first."

Additional information on Mr Peter Grant

The following additional information is provided in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies:

Peter William Grant (aged 62), holds or held the following Directorships or Partnerships in the past 5 years:

Current Directorships/Partnerships	Past Directorships/Partnerships
Abzena PLC LiDCO Group PLC Labatec Pharma SA Searching Solutions Ltd1	Skyepharma PLC SkyePharma Holding AG SkyePharma AG Skyepharma Management AG Jagotec AG Jago Holding AG Skyepharma Holding Inc Skyepharma US Inc Skyepharma (Jersey) Limited Bolag nr 16 i Malmö AB Krypton Limited Vine Northern Limited Vine Industries Limited Vinestand Limited Playscheme Limited Sun Wharf (Stratford) Limited Vine Exhibition Limited Vine (Building Maintenance) Limited Big Ben Scaffolding Limited
1 Currently in solvent voluntary strike off

Mr Grant resigned from the board of Eurodis Electron PLC in January 2005 for family health reasons. In March 2005, a major franchiser gave notice of termination of its relationship with Eurodis Electron PLC, and in July 2005 the lead finance provider to Eurodis Electron PLC reduced the facilities and the company (and a number of its subsidiaries) went into administration.

Peter currently holds no interest in the ordinary share capital, or other securities, of Microsaic Systems plc.

There is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies.

This announcement is released by Microsaic Systems plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), encompassing information relating to the board change described herein, and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Glenn Tracey, CEO.

Enquiries:
Microsaic Systems plc Glenn Tracey, CEO Bevan Metcalf, FD	+44 (0) 1483 751577
N+1 Singer (Nominated Adviser & Broker) Shaun Dobson Liz Yong	+44 (0)20 7496 3000
IFC Advisory (Financial PR) Graham Herring Heather Armstrong Florence Chandler	+44 (0)20 7638 9571

About Microsaic Systems

Microsaic Systems plc (AIM: MSYS) is a high technology company developing chip-based, bench-top and point-of-analysis mass spectrometry ("MS") instruments that are designed to improve the efficiency of pharmaceutical R&D. The Company is working with established global life science companies to co-develop new solutions to improve productivity in the development of small molecule and novel biologic (peptides, antibodies) medicines. MS is a powerful method of analysis to enable earlier decision making relating to product identification, purity and bioactivity, and is the analytical technique of choice for biochemists across many industry sectors.

Microsaic's core product, the 4000 MiD(R), is one of the smallest MS systems in the world, retaining the functionality of larger conventional MS systems, is easier to use by non-specialists, consumes less energy and has lower running costs. For more information, please go to www.microsaic.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOALVLLFDLFLFBQ