Feedback PLC Board Changes (4796K)

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RNS Number : 4796K

Feedback PLC

29 August 2019

Feedback plc

Board Changes

Cambridge, 29 August 2019: Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the specialist medical imaging technology company, announces the appointment of Professor Rory Shaw as non-executive Deputy Chairman of the Company, effective immediately.

Non-executive Chairman, Dr Alastair Riddell, has informed the Company that he intends to retire at the Company's next annual general meeting. At such time, it is intended that Professor Rory Shaw will be appointed non-executive Chairman of Feedback.

Professor Rory Shaw will step down immediately from his post as Medical Director of Feedback Medical Limited, the Company's operating subsidiary, which he has held since June 2018. The functions of the post will be covered internally.

Professor Rory Shaw has extensive managerial and overseas trade experience as well as a strong academic and clinical background. As Medical Director of Feedback Medical, over the last year he has contributed to the development of the Company's new strategy and to building relationships with the UK medical community.

Professor Shaw was previously the Medical Director of Healthcare UK within the Department of International Trade. Over the previous 15 years, he has been Medical Director of three NHS Trusts; North West London Hospitals NHS Trust, the Royal Berkshire NHS Foundation Trust and the Hammersmith Hospital NHS Trust. In 2001, he was appointed by the then Minister of Health as the first Chairman of the National Patient Safety Agency and was also a non-executive director of the NHS Litigation Authority. Professor Shaw's clinical specialty is respiratory and general medicine. He has been published extensively in academic journals and was also a professor of respiratory medicine at Imperial College School of Medicine.

Dr Alastair Riddell, Non-Executive Chairman of Feedback plc, said:

"We welcome Professor Shaw to the Board after his successful time as Medical Director of Feedback Medical. His extensive senior level experience in the NHS and international network established while with UKTI will help us to establish our new products within the national and international medical community. He is an eminently suitable replacement Chairman for me when I retire after the next AGM".

Dr Tom Oakley, CEO of Feedback plc, commented:

"Dr Riddell has been a key force in driving Feedback forward in recent years and on behalf of the Board, we are grateful for his guidance and advice. He remains Chairman for the near term and continues to work with the Board to oversee the launch of Bleepa(TM) and the growth of the underlying operations.

"Professor Shaw's work with Feedback Medical has been vital in helping us develop the next stage of our technology and the launch of Bleepa(TM) . With his appointment as Deputy Chairman and in due course, to Chairman, we will continue to benefit from his valuable clinical and business expertise."

AIM Rules disclosures

Rory James Swanton Shaw, aged 65, is or has during the last five years been, a director or partner of the following companies:

 
 Current directorships/partnerships   Former directorships/partnerships 
                                       within last five years 
 London Healthcare Consultancy        Feedback Medical Limited 
  Ltd 
 

As announced on 12 August 2019, Professor Rory Shaw has conditionally subscribed for 4,166,667 ordinary shares in the Company's recent placing and subscription to raise GBP2 million. The placing and the subscription are subject to shareholder approval at the general meeting of the Company to be held later today and, if approved, Professor Shaw will have an interest in approximately 0.77 per cent. of the Company's issued share capital as enlarged by the placing and subscription.

-Ends-

Enquiries:

 
 Feedback plc 
  Tom Oakley, CEO                        [phone] 
  Lindsay Melvin, CFO                    [e-mail] 
 Allenby Capital Limited (Nominated 
  Adviser) 
  David Worlidge / Asha Chotai         [phone] 
 Peterhouse Capital Limited (Joint 
  Broker) 
  Lucy Williams / Duncan Vasey         [phone] 
 Stanford Capital Partners Limited 
  (Joint Broker) 
  Patrick Claridge / John Howes        [phone] 
 Instinctif Partners                   [phone] 
  Rozi Morris / Phillip Marriage        [e-mail] 
 

About Feedback plc

Feedback plc (AIM: FDBK) is a specialist medical imaging technology company providing innovative software and systems, through its fully-owned trading subsidiary, Feedback Medical Limited. Its products advance the work of radiologists, clinicians and medical researchers by improving workflows and giving unique insights into diseases, particularly cancer. Feedback Medical works with customers globally from headquarters in the internationally renowned scientific hub of Cambridge, UK. Its proprietary technologies are TexRAD(R) , the quantitative texture analysis tool and Cadran, a picture archiving communication system (PACS). The Company has recently announced the launch of its new messaging and image transfer product Bleepa(TM). For more information, see www.fbkmed.com/.

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August 29, 2019 02:01 ET (06:01 GMT)