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MEMPHASYS LIMITED. — Board/Management Information 2016
Jan 5, 2016
65314_rns_2016-01-05_d5607c1c-1802-4b1c-aec6-b0727b935d16.pdf
Board/Management Information
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ASX Release
OF PRIME BIOLOGICS PTE LTD
Sydney, Tuesday 5 January 2016
NuSep Holdings Limited (“NuSep”, ASX:NSP) advises that Mr Andrew Goodall has resigned from the Board of PrIME Biologics Pte Ltd (“PrIME”), effective today. PrIME was spun out by NuSep in mid 2014 and NuSep now holds PrIME as an investment through non-voting “B” class shares. Presently NuSep holds a 55% interest in PrIME.
PrIME has raised nearly $20 million in external funding but has yet to obtain cGMP approval on its plasma fractionation facility in Singapore.
The continued lack of operational and strategic information provided by PrIME to Mr Goodall, the insufficient number and quality of PrIME Board meetings and general concerns about the governance of PrIME have led to Mr Goodall’s decision to resign as a Director of PrIME.
As a result of Mr Goodall’s resignation there is no longer a NuSep representative on the PrIME Board. NuSep’s Board has requested that PrIME keep NuSep informed on PrIME’s operations and its progress towards meeting its goals, including most notably PrIME’s progress in obtaining cGMP approval. NuSep will update the market as appropriate as and when it obtains updates from PrIME.
For further information please contact:
Alison Coutts Executive Chairman +61 2 8415 7300 [email protected]
NuSep Holdings Ltd 30 Richmond Rd Homebush NSW 2140
Contact Details Telephone +61 2 8415 7300 Facsimile +61 2 8415 7399
Email [email protected] Web www.nusep.com ABN 33 120 047 556
Postal Address P.O. Box 2202 Homebush West NSW 2140