NetScientific PLC Resignation of CEO (0174X)
25 Abril 2019 - 3:01AM
UK Regulatory
TIDMNSCI
RNS Number : 0174X
NetScientific PLC
25 April 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014
NetScientific plc
("NetScientific" or the "Company")
Resignation of CEO
NetScientific announces that it has accepted today the
resignation of François Martelet as its CEO. François has resigned
to assist the Company in reducing its central costs and to pursue
other career opportunities. He will depart on 30 April 2019 in
accordance with the terms of his service agreement.
Ian Postlethwaite, currently CFO and Company Secretary of
NetScientific, will henceforth combine these roles with that of
CEO.
The Company also announces that the lease of the Company's
headquarters at 6 Bevis Marks London EC3A 7BA was terminated on 29
March 2019 and it continues to review all other activities to
manage its cash resources effectively.
Commenting on his resignation, François Martelet stated: "Out of
the five assets we selected in 2015 I am pleased to report that
three have made it to the commercial stage (Vortex Biosciences,
ProAxsis Limited and Wanda, Inc.). Glycotest Inc. concluded its
Series A financing round with Shanghai Fosun Pharmaceutical Co.,
Ltd. and PDS Biotechnology Corporation completed its all share
merger with Edge Therapeutics.
I would like to thank the NetScientific Board, in particular Sir
Richard Sykes, for the great support provided over the last four
years."
Sir Richard Sykes, Chairman of the Company stated: "The Board
would like to put on record its gratitude to François for his
leadership of NetScientific since 2015 in a challenging IP
commercialisation environment and wishes him every success in his
future interests. We will seek to make the most of our reduced
central costs with the aim of maximising the potential in our
remaining portfolio companies."
For more information, please contact:
NetScientific Tel: +44 (0)20 3514
Ian Postlethwaite, CFO 1800
WH Ireland Limited (NOMAD, Financial Adviser Tel: +44 (0)20 7220
and Broker) 1666
Chris Fielding / Jessica Cave
About NetScientific
NetScientific is a transatlantic healthcare technology group
with an investment strategy focused on sourcing, funding and
commercialising technologies that significantly improve the health
and well-being of people with chronic diseases.
For more information, please visit the website at
http://www.NetScientific.net
END
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END
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