Microsaic Systems plc Board Appointment and Strategic Update (7374E)
15 Março 2022 - 4:00AM
UK Regulatory
TIDMMSYS
RNS Number : 7374E
Microsaic Systems plc
15 March 2022
15 March 2022
Microsaic Systems plc
("Microsaic" or the "Company")
Board Appointment and Strategic Update
Microsaic (AIM: MSYS) is pleased to announce the appointment of
Robert Moore as an independent Non-executive Director of the
Company, with immediate effect.
Bob Moore is a UK qualified lawyer and brings over 35 years'
commercial and legal experience to the Board. Bob has acted as Head
of International Legal Affairs at Enterprise Oil plc (a UK FTSE 100
company prior to its acquisition by Shell in 2002) and as
co-founder and Commercial Director of Granby Oil & Gas plc,
which was listed on AIM from 2005 until its sale in 2008. Bob
subsequently co-founded, and is Managing Director of, private oil
and gas exploration company Ardent Oil Ltd (operating in the UK,
Denmark and Luxembourg). Bob also acts as Non-executive Chairman of
Mobile Streams plc, an AIM listed company, having been appointed to
the role in July 2021.
Bob Moore will also join the Finance & Audit and
Remuneration Committees of the board of directors of the
Company.
Further to the announcement on 28 January that Glenn Tracey
would be stepping down from his role as Chief Executive Officer
("CEO") to pursue a non-competitive opportunity, it has been agreed
that he will leave on 31 March, rather than with effect from the
date of the Company's next Annual General Meeting ("AGM") as
previously announced.
The Company has begun a process to identify and appoint a
successor CEO and from 1 April until that time, Gerry Brandon will
temporarily serve as Executive Chairman of the Company. The Board
is also making good progress with regard to the recruitment process
for an additional independent non-executive director.
Gerard Brandon, Chairman of Microsaic, commented : "I'd like to
thank Glenn again for his contribution over the past seven years
and wish him every success in his new role.
"The Company is making progress in transforming from a
proprietary equipment-only sales model, to a partner-based business
model that adds contract micro-engineering design, build and
commission of client equipment as a new revenue source. In
addition, medical, environmental and bio-processing test services
are to be carried out on Microsaic's own mass spectrometry
equipment for external clients and are also expected to generate
recurring revenue streams. As we seek to grow the Company through a
combination of organic growth, joint ventures and the potential for
future acquisitions, Bob is a welcome addition to the Board with
his international commercial and legal experience. "
Additional Disclosures Required under the AIM Rules for
Companies
In accordance with Schedule 2(g) of the AIM Rules for Companies,
Robert ("Bob") Dennis Moore (aged 64) is, or has been within the
previous five years, a director or partner of the following
companies or partnerships:
Current directorships/partnerships Past directorships/partnerships
Swiftpipe Ltd Cathay Oil and Gas Production
Ardent Oil Ltd Ltd
Horizon Energy Partners Ltd Petro River UK Limited
Horizon Energy Acquisition Ardent Oil Resources Limited
Ltd
Ardent Castings Ltd
Ardent Oil (Luxembourg) Holding
SA
Ardent Oil (UK) SA
Mobile Streams plc
--------------------------------
Bob Moore does not hold any ordinary shares in the Company.
Save as set out above, there is no further information to be
disclosed in respect of Robert Moore under Schedule 2(g) of the AIM
Rules.
Enquiries:
Microsaic Systems plc
Gerry Brandon Chairman +44 (0)734 0055 648
Singer Capital Markets
(Nominated Adviser & Joint Broker) +44 (0)20 7496 3000
Aubrey Powell / Tom Salvesen / George
Tzimas
Turner Pope Investments (TPI) Limited
(Broker)
Andy Thacker / James Pope +44 (0) 20 3657 0050
About Microsaic
Microsaic develops and commercialises micro-engineering
chip-based mass spectrometry equipment. Microsaic has a robust
patent portfolio in cutting-edge technology purpose built for
"Industry 4.0" which enables analytical detection and
characterisation at the point-of-need, whether within a human
health environment, conventional laboratory setting, or within a
bioprocessing facility for continuous mass spectrometer detection
and monitoring of data at any step in the process workflow , or in
frontline environmental monitoring
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