NetScientific PLC Board Changes (1038B)

TIDMNSCI

RNS Number : 1038B

NetScientific PLC

31 May 2023

For release: 07.00, 31 May 2023

NetScientific plc

("NetScientific" or "NSCI" or the "Company" or the "Group")

Board Changes: Appointment of New Non-Executive Chair

London, UK - 31 May 2023: NetScientific plc (AIM: NSCI), the investment and commercialisation group with an international portfolio of innovative life science, sustainability and industrial technology companies, is pleased to announce the strengthening of its Board with the appointment of Charles Spicer as its new independent Non-Executive Chair. He will also chair the Nominations Committee and serve as a member of the Audit Committee and the Remuneration Committee.

Charles will join the Company as a Non-Executive Director with immediate effect, and he will then assume the role of Non-Executive Chair following the closing of the Company's 2023 Annual General Meeting ("AGM"), which is anticipated to be on or around 29 June 2023. Interim Non-Executive Chair, Jonathan Robinson will continue in his role until the AGM, to facilitate an orderly handover. Following the AGM Jonathan will continue to serve on the Board as a Non-Executive Director, Senior Independent Director and Chair of both the Audit Committee and the Remuneration Committee.

Charles Alexander Evan Spicer (aged 58) is an experienced chair and director specialising in the medtech and life sciences industries. He advises both public and private companies. He currently chairs Creo Medical Group plc, IXICO plc, and Korn Wall Limited (KwickScreen). Furthermore, he serves as the Chair for the UK Department of Health's Product Development Awards Selection Panel B for Invention for Innovation (i4i). Charles previously held directorships at Aircraft Medical (acquired by Medtronic Inc. in 2015) and Stanmore Implants (acquired by Stryker Inc. in 2016).

Charles was previously Chief Executive of MDY Healthcare plc, a strategic healthcare investor and, prior to that, Head of Healthcare Corporate Finance at both Numis Securities and Nomura International. Charles has a PhD in History from London University and an MA in History from Cambridge University.

Dr Ilian Iliev, Chief Executive Officer of the Company, commented:

"We are delighted to welcome Charles to our Board and are very much looking forward to working with him. He has extensive experience as a chair, director, and adviser to AIM companies, and importantly combines this with a deep knowledge of our core investment sectors and financial services. These attributes will prove highly valuable as we continue to execute on our growth strategy.

"I would also like to acknowledge the contributions of Jonathan Robinson, who served as interim Chair. We are extremely grateful to him for his interim board leadership, supporting the final stages of our turnaround project. His measured and practical approach contributed greatly to its success and we look forward to our continued work together."

Charles currently holds or has held in the past five years the following directorships and partnerships:

 
 Current directorships and partnerships   Past directorships and partnerships 
 Creo Medical Group plc                   11 Health & Technologies Ltd 
 IXICO plc                                MJ Hudson Group plc 
 Korn Wall Ltd                            Realm Therapeutics Ltd 
 Newe House Partners 
 

Charles Spicer does not hold any interest in the share capital of the Company.

No further disclosure is required under paragraph (g) of Schedule Two of the AIM Rules for Companies.

-Ends-

The person responsible for arranging the release of this announcement on behalf of the Company is Ilian Iliev, Chief Executive Officer of the Company.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

For more information, please contact:

NetScientific

Ilian Iliev, CEO Via Belvedere Communications

WH Ireland (Nominated adviser and broker)

Chris Fielding / Darshan Patel / Enzo Aliaj [phone]

Belvedere Communications

John West / Llew Angus [phone]

Email: [e-mail]

About NetScientific

NetScientific plc (AIM: NSCI) is an investment and commercialisation group with an international portfolio of innovative life science, sustainability and technology companies.

NetScientific identifies, invests in, and builds high growth companies in the UK and internationally. The company adds value through the proactive management of its portfolio, progressing to key value inflection points, and delivering investment returns through partial or full liquidity events.

NetScientific differentiates itself by employing a capital-light investment approach, making judicial use of its balance sheet and syndicating investments through its wholly owned VC subsidiary, EMV Capital. The group secures a mixture of direct equity stakes and carried interest stakes in its portfolio of companies, creating a lean structure that can support a large portfolio.

NetScientific is headquartered in London, United Kingdom, and is admitted to trading on AIM, a market operated by the London Stock Exchange.

www.netscientific.net

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 [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

BOAABMMTMTJJMPJ

(END) Dow Jones Newswires

May 31, 2023 02:00 ET (06:00 GMT)