Feedback PLC Directorate Change (8078E)

TIDMFDBK

RNS Number : 8078E

Feedback PLC

14 February 2018

This announcement contains inside information as stipulated under the Market Abuse Regulation (EU) No 596/2014 (MAR).

14 February 2018

Feedback plc

("Feedback" or the "Company")

Directorate change

Appointment of new Chief Executive Officer to drive growth strategy

Cambridge, UK - 14 February 2018: Feedback plc ("Feedback" or the "Company") (AIM: FDBK), the specialist medical imaging technology company, announces that it has appointed David Crabb as Chief Executive Officer and a director of Feedback with immediate effect. This appointment will underpin the execution of the Company's growth strategy following the first CE marked release of TexRAD(R) ; the Company's patented quantitative image texture analysis technology for diagnostic radiological scans.

Mr Crabb brings 20 years of experience as an effective business leader to Feedback. Most recently he was Chief Executive Officer of Cambridge Online Systems, a major software company providing services to UK and international customers, which was acquired by the global IT group Columbus in December 2016. Under Mr Crabb's management in 2011, Cambridge Online Systems delivered strong growth from a loss-making organisation to one with top-quartile financial results and was voted as one of the "Sunday Times Top 100 Companies to work for" in two consecutive years. Previously, Mr Crabb held director-level roles in medium-sized technology and outsourced solutions companies with revenues from GBP50 million to over GBP1 billion, responsible for business optimisation, sales and marketing and workforce leadership.

Dr Alastair Riddell, Chairman of Feedback plc, said: "Since the acquisition of Cambridge Computed Imaging Ltd and TexRAD Limited in 2014, Feedback plc has developed a strong reputation in the field of medical imaging and is privileged to be working with over 40 of the world's leading research institutions. We recognise that a small, multi-disciplinary team has its limitations, which resulted in some operational delays over the past 12 months, so I am delighted that Feedback has attracted a highly experienced executive to complement the strong technical and regulatory expertise within the Company. Under David's leadership, we are well-positioned to leverage our pioneering technology to create evidence-based imaging software, arming clinicians with innovative tools to improve patient outcomes."

David Crabb, Chief Executive Officer of Feedback plc, commented: "I am impressed with the platform technologies and domain expertise at Feedback. The medical imaging and diagnostics market is a dynamic, fast-paced environment where disruptive technologies are very much needed. The opportunity is not without its challenges, as with all pioneering development, but as a small, ambitious company which has experienced both acquisition and organic growth, there is significant opportunity to optimise and expand Feedback's operations. Our long-term vision is to lead global innovation in quantitative medical imaging analysis - I believe we have strong foundations to position ourselves at the forefront of this important field and I am looking forward to refining our strategy over the coming months."

Regulatory Disclosures

In accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies, David James Crabb, aged 50 is, or has been within the last five years, a director or partner in the following companies and partnerships:

 
 Current directorships    Past directorships and 
  and partnerships         partnerships held within 
                           the last five years 
 David Crabb Consulting   Cambridge Online Systems 
  Limited                  Limited 
 

There is no other information required to be disclosed under the AIM Rules for Companies.

Notes to editors

About Feedback plc

Feedback plc is a specialist medical imaging technology company. It develops software and systems that provide innovative techniques and improved workflows for practitioners involved in medical research and treating patients. TexRAD(R) , the Company's patented quantitative image texture analysis technology, has the potential to assist clinicians in diagnosis, prognosis and treatment of patients with cancer and is currently installed in over 40 of the world's leading research institutions across Europe, North America, Asia and Australasia. The Cadran platform provides a suite of medical imaging tools for decision support. The Cadran range includes the picture archiving communication system (PACS) to provide decision support for scan analysis, diagnostic workstations which provide secure remote access to view scans on demand, and products to securely share and transport patient data. Visit www.fbk.com.

For further information, please contact:

 
  Feedback plc                        Tel: [phone] 
   David Crabb, Chief Executive        [e-mail] 
   Officer 
   Lara Mott, Investor Relations 
 Allenby Capital Limited (Nominated   Tel: [phone] 
  Adviser and Joint Broker)            5656 
  David Worlidge / Asha Chotai 
 Northland Capital Partners Ltd       Tel: [phone] 
  (Joint Broker)                       6625 
  David Hignell / John Howes 
 Peterhouse Corporate Finance         Tel: [phone] 
  Ltd (Joint Broker)                   0936 
  Lucy Williams / Duncan Vasey 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 14, 2018 02:00 ET (07:00 GMT)