TIDMMSYS

RNS Number : 9128Z

Microsaic Systems plc

28 January 2022

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE GROUP TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR") AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018

28 January 2022

Microsaic Systems plc

("Microsaic" or the "Company")

Resignation of Chief Executive Officer

Microsaic (AIM: MSYS), announces that, after what will have been over 7 years of service, Glenn Tracey, has notified the Board that he will be stepping down from his role as Chief Executive Officer ("CEO") with effect from the date of the Company's next Annual General Meeting ("AGM"), to pursue a non-competitive opportunity. Until that time, Glenn will remain as CEO and Director. The Company and Glenn will also co-ordinate an orderly handover of his responsibilities during this period.

The Company will shortly therefore commence a formal process to identify and appoint a successor CEO. Pending this appointment and to support the orderly handover in due course, Gerry Brandon, Non-executive Chairman, will temporarily play a more active role in the running of Microsaic's business.

The Company has also been making good progress with regard to the recruitment process for sourcing additional independent non-executive directors to the Board and reasonably expects to make at least one such appointment before the next AGM.

Gerry Brandon, Chairman commented:

"Over his tenure, Glenn has played a valuable role in converting the Compact Mass Spectrometry technology from development stage to a high margin commercial focused business, redefining the strategy towards solving real-world problems in Environmental and Human Health. On behalf of everyone at Microsaic, the Board wishes him every success for the future."

Further announcements will be made in due course.

 
 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 listed on AIM in 2011 to develop and commercialise 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 .

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January 28, 2022 02:00 ET (07:00 GMT)

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