TIDMTSP
RNS Number : 3951V
TruSpine Technologies PLC
05 April 2023
5 April 2023
TruSpine Technologies plc
("TruSpine" or the "Company")
Company Update and Board Changes
TruSpine Technologies plc, (AQSE: TSP) the medical device
company focused on the development of its pioneering "screwless"
spinal (vertebral) stabilisation systems, provides an update on its
business collaborators and FDA application process, changes to the
Company's board composition and the appointment of new public and
investor relation advisers.
Company Update
The Company has terminated a consultancy agreement with J Lees S
Consultants LLC ("JLSC") through which, inter alia, the services of
Frank Boehm were provided. Mr Boehm was the inventor of the
technologies behind Faci-LOK, Cervi-LOK and GRASP Laminoplasty
systems.
The Company notes that Mr Boehm has made various claims about
the validity and ownership of the Company's IP. The Company
confirms that it continues to hold the IP in relation the three
non-invasive spine stabilisation products under development, as set
out in the Admission Document dated 19 August 2020.
The Company is working towards making its FDA 510(k) application
without further delay.
Board Changes
The Company announces that Martin Armstrong, Non-executive
Chairman, has resigned from the Company with immediate effect. The
Board would like to take this opportunity to thank Martin for the
work he has done with the Company over the years.
Further to the announcement of 28 February 2023, Laurence
Strauss has today been appointed a director of the Company (Chief
Executive Officer). Further disclosures on Mr Strauss as required
pursuant to Rule 4.9 of the AQSE Growth Market Access Rulebook are
included in the appendix below.
Laurence started his career in 1986 working in the City and
built a private client broking business working for, inter alia,
Allied Provincial and Elders Finance. Laurence left the City in
1992, serving as a director of Longbrooke Electrical Ltd, an
electrical contracting business and overseeing its expansion,
following which he replicated the growth model in another business.
More recently, Laurence has been advising private clients on equity
investments and initial public offerings.
Appointment of PR & IR advisers
The Board announces the appointment of Novus Communications
Limited as its PR and IR adviser with immediate effect.
Appendix I
Save as set out below, no further information regarding Mr.
Strauss is required to be disclosed pursuant to Rule 4.9 of the
AQSE Growth Market Access Rulebook.
Mr. Laurence Richard Strauss (aged 56) has held the following
current and former directorships within the past five years:
Current Directorships Directorships in the past 5 years
Sanify Cleaning Products Ltd Bentley Construction Limited*
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Charles Davenport Capital Ltd
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*Bentley Construction Limited ("Bentley") entered into
compulsory liquidation on 16 January 2002 and the winding up was
finalised on 24 March 2020. Mr. Strauss was appointed as a director
of Bentley on 1 January 1995. In addition, Mr. Strauss was also a
director of certain subsidiaries of Bentley, being:
- Bentley Bristol Ltd (appointed on 23 February 1993) entered
into compulsory dissolution on 9 April 2002 during the directorship
tenure of Mr. Strauss.
- Bentley Maintenance Ltd (appointed on 23 February 1998)
entered into compulsory dissolution on 10 July 2001during the
directorship tenure of Mr. Strauss.
- Bentley Technical Services Ltd (appointed on 12 January 1999)
entered into compulsory dissolution on 17 October 2000 during the
directorship tenure of Mr. Strauss.
Mr. Strauss was a director of Longbrooke Electrical
Installations Ltd from 12 March 2003 to 5 February 2011. A
liquidator was appointed on 12 December 2006 to undertake a
creditors voluntary liquidation which finalised in February
2011.
Mr. Laurence Strauss is beneficially interested in 100,000
ordinary shares in the Company.
There is no further information to be disclosed pursuant to Rule
4.9 of the AQSE Growth Market Access Rulebook.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
Enquiries:
TruSpine Technologies Plc Tel: +44 (0)20 3638 5025
Laurence Strauss, Chief Executive Officer
Cairn Financial Advisers LLP (AQSE Corporate Adviser) Tel: +44 (0)20 7213 0880
Liam Murray / Ludovico Lazzaretti
Oberon Capital (Joint Broker) Tel: +44 (0)20 3179 5300
Mike Seabrook / Chris Crawford
Peterhouse Capital Limited (Joint Broker & Financial Adviser) Tel: +44 (0)20 7469 0930
Lucy Williams / Duncan Vasey
Novus Communications (PR and IR) Tel: +44 (0)207 448 9839
Alan Green / Jacqueline Briscoe novuscomms@truspine.org
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward-looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
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END
NEXUSAAROBUSRUR
(END) Dow Jones Newswires
April 05, 2023 02:00 ET (06:00 GMT)
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