Microsaic Systems plc Directorate Change (0063L)

TIDMMSYS

RNS Number : 0063L

Microsaic Systems plc

28 September 2016

28 September 2016

Microsaic Systems plc

("Microsaic", "Microsaic Systems" or the "Company")

Retirement of Chairman

Microsaic Systems plc (AIM: MSYS), the developer of chip-based mass spectrometry instruments, has been informed by the Company's Chairman, Colin Nicholl, that he shall retire from the Board on the 31 January 2017. The Board, in consultation with its nominated adviser N+1 Singer, has initiated a process to identify and elect a new Chairperson.

Senior Non-Executive Director Eric Yeatman commented: "Colin has been a strong guiding influence to Microsaic, particularly as Chairman since July 2013. During this period, the Company has undertaken important changes, including the introduction of a new management team and corporate strategy, and most recently a successful corporate financing to ensure the ongoing financial stability for the business. On behalf of the Board, I would like to express our great appreciation for his contribution to the leadership of the Company, and his continuing commitment to the successful implementation of its strategy."

Colin Nicholl added: "Microsaic has unique technologies that have the potential to make a positive impact in a wide range of application areas. With a new executive team in place and with its financial stability ensured for the next few years, it is the right time to step down and enable the company to seek a new Chairperson who will lead the board during the next exciting phase of Microsaic's development."

 
 Enquiries: 
 Microsaic Systems plc 
  Jim Ramage, CEO 
  Bevan Metcalf, FD                    [phone] 
 N+1 Singer (Nominated Adviser 
  & Broker) 
  Shaun Dobson 
  Liz Yong                             [phone] 
 Citigate Dewe Rogerson 
  (Financial PR) 
  Mark Swallow, Marine Perrier    [phone]/1068 
 

About Microsaic Systems

Microsaic Systems plc is a high technology company developing chip-based, bench-top mass spectrometry ("MS") instruments that are designed to improve the efficiency of Pharma R&D. MS is an analytical technique of choice for biochemists across many industry sectors.

Microsaic aims to bring routine MS analysis to the pharmaceutical scientist, providing powerful methods of analysis to enable earlier decision making relating to product identification, purity and bioactivity.

The Company is working with established global companies in preparative and purification science with expertise in Pharma and life sciences to co-develop new, integrated and optimised, application-specific, solutions to improve productivity in the development of small molecule and novel biologic (peptides, antibodies) medicines.

The Microsaic 4000 MiD(R), single quadrupole, is the world's smallest MS system, retaining the functionality of larger conventional MS systems, is easier to use by non-specialists, consumes less energy and has lower running costs. The Company is also developing new MS systems, based on its patented chip technologies, to address further areas of emerging need in Pharma R&D.

Microsaic Systems was established in 2001 by a team including founders from Imperial College London, and was admitted to AIM in 2011 (ticker: MSYS).

www.microsaic.com

This information is provided by RNS

The company news service from the London Stock Exchange

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September 28, 2016 02:01 ET (06:01 GMT)