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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Modern Water Plc | LSE:MWG | London | Ordinary Share | GB00B1XF5X66 | ORD 0.25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.45 | 2.40 | 2.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
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RNS Number : 9108E
Modern Water PLC
04 March 2020
AIM share code: MWG
4 March 2020
Modern Water plc
("Modern Water" or "Company")
Appointment of Director
Further to the Company's announcement on 20 February 2020, the Company is pleased to confirm the appointment of
Gerard James Brandon to the Board of Modern Water as Chairman.
Simon Humphrey, Chief Executive Officer, commented:
"I am delighted to welcome Gerry to the Board of the Company. He brings dynamic company restructuring, global network and commercial focused credentials, with experience realising underexploited value, adding new routes to market through revenue share collaboration agreements in scientific and engineering businesses using digital analytics and artificial intelligence. Gerry's extensive management background, proven hands-on operational expertise, and experience of integrating businesses, positions him well to provide the Board with the leadership necessary to support and direct executive management, helping to deliver on the new business model strategy that will drive Modern Water to profitability."
Board appointment
The appointment of Gerard James Brandon as Non-Executive Director of the Company is for an initial period of 12 months, and thereafter is terminable by either party on not less than 3 months' written notice. The Director's fee is GBP50,000 per annum but will not be settled in cash. Instead, the Director will have his accrued fee settled by the allotment to him of New Ordinary Shares, which will be issued at the Placing Price of 0.5p per New Ordinary Share for the first two years of his appointment.
Gerard James Brandon (Age: 58 )
Gerard Brandon is Chief Executive Officer of both Integumen plc and Cellulac plc. In 1996 he became founder and CEO of Alltracel Pharmaceuticals PLC, where he built a team that oversaw numerous patents granted on refined cellulose. Alltracel Pharmaceuticals PLC was admitted to trading on AIM in 2001. In 2004, he was appointed as a Managing Partner for Farmabrand Private Equity. In 2009, he was appointed as an Executive Consultant to Eplixo Limited. He is a Fellow of the Ryan Academy of Entrepreneurs in Dublin.
Gerard James Brandon is interested in 10 million ordinary shares, representing 1.99% of the Company's issued share capital.
Pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies, the following information is disclosed in respect of Gerard James Brandon :
Current and Past Directorships and Partnerships within the last 5 years
Current Past Cellulac Plc Visible Youth Limited Cellulac Trading Limited VY Club Limited Innovenn UK Limited Integumen Plc Lifesciencehub UK Limited Pursuit Marine Drive Limited Rinocloud Limited
Save for the information above, there are no further disclosures to be made in accordance with Rule 17, Schedule 2(g) of the AIM Rules for Companies in respect of the appointment Gerard James Brandon .
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For further information:
Modern Water plc Simon Humphrey , CEO +44 (0)20 3827 3439 Sandy Jamieson / Tony Cairn Financial Advisers Rawlinson LLP (Nominated Adviser) Ludovico Lazzaretti +44 (0)20 7213 0880 Turner Pope Investments +44 (0) 20 3621 (TPI) Limited (Broker) Andy Thacker / Zoe Alexander 4120
About Modern Water
Modern Water was established in 2006 to develop and commercialise water recovery technologies to counter water crisis problems arising from climate change and a growing global population. Having invested GBP20m over the last 14 years, the results comprise a robust patent portfolio of cutting-edge technology, focused on monitoring of contaminated water and decontamination of wastewater, making recycling of water more efficient. Six countries across the world have legislated that Modern Water monitoring test systems are written into their environmental protection legislation.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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March 04, 2020 02:00 ET (07:00 GMT)
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