CML Microsystems PLC Directorate Change (6193P)

TIDMCML

RNS Number : 6193P

CML Microsystems PLC

18 February 2021

CML Microsystems Plc

(the "Group")

Directorate Change

CML Microsystems Plc, announces that, after almost seven years with the Group, Hugh Rudden, Group Sales & Marketing Director, has today advised the Board of his decision to retire. He will step down from the Board on 31 May 2021.

Chris Gurry, Group Managing Director said :

"On behalf of the Board, I wish to thank Hugh, he has made a very valuable contribution to the business throughout his tenure for which the Board expresses its heartfelt thanks and good wishes for a long and happy retirement".

 
CML Microsystems Plc                      www.cmlmicroplc.com 
 Chris Gurry, Group Managing Director      Tel: [phone] 
 Nigel Clark, Group Chairman & Financial 
 Director 
Shore Capital                             Tel: [phone] 
 Edward Mansfield 
 James Thomas 
 Fiona Conroy - Corporate Broking 
SP Angel Corporate Finance LLP            Tel: [phone] 
 Jeff Keating 
Alma PR                                   Tel: [phone] 
 Josh Royston 
 Caroline Forde 
 Robyn Fisher 
 

About CML Microsystems PLC

CML develops mixed-signal, RF and microwave semiconductors for global communications markets. The Group utilises a combination of outsourced manufacturing and in-house testing with trading operations in the UK, Asia and USA. CML targets sub-segments within Communication markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading commercial and industrial product manufacturers.

The spread of its customers and diversity of the product range largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the appetite for data to be transmitted faster and more securely, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial wireless networks for voice and/or data communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.

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February 18, 2021 08:45 ET (13:45 GMT)