Directorate Change

 

TIDMOXN 
 
RNS Number : 8532V 
Oxonica plc 
17 July 2009 
 
17th July 2009 
Oxonica plc 
 
 
Further Board Change 
 
 
Oxonica plc ("Oxonica, the Group or the Company"), a leading international 
nanomaterials group, today announces a further change to the Board, in 
connection with the future strategic positioning of the Company and associated 
cost reductions. 
 
 
As set out in the Circular to Shareholders dated 7 July, 2009, the Company is 
currently in partnership discussions in connection with all of its businesses 
with a view to securing profitable platforms for growth. The structure of the 
resulting relationships will be announced on completion of the negotiations, 
however, it is anticipated that the outcome will be a structure in which the 
Group's income will consist primarily of royalty income generated by partners' 
product sales. This will simplify the Group's operations considerably and in 
conjunction with the proposed delisting from AIM, will facilitate further 
reductions in the Group's cost base. In anticipation of this further planned 
restructuring the Chief Financial Officer, Richard Clarke, has informed the 
Company of his intention to resign from the Board and will leave the Company on 
29 September 2009, on the same date as Dr Kevin Matthews and Ed Weeks. 
 
 
Commenting on this decision, Richard Farleigh, Oxonica's Chairman said, 
"Oxonica's strategy is focused on the establishment of partnerships across the 
Group's businesses and minimisation of the corporate centre. Richard has been a 
valuable member of the executive team and Board over the last five years and the 
Board would like to thank Richard Clarke for his contribution and wishes him 
well in his future career. I intend to increase my commitment as required to 
help Oxonica execute its stated strategy". 
 
 
The Company is reviewing its requirements regarding the Executive Management of 
the Business.  However, following the restructuring it is still envisaged that 
the Board of Oxonica plc will comprise Richard Farleigh as non-executive 
chairman, an executive director, and George Elliott as the independent 
non-executive director and audit chairman. Gordon Ringold will also remain on 
the Board until such time as the Security business is successfully partnered. 
 
 
 
 
For further information, please contact: 
 
 
Oxonica plc     01865 856 700 
Kevin Matthews, Chief Executive 
Richard Clarke, Finance Director 
 
 
Panmure Gordon020 7459 3600 
Hugh Morgan 
Andrew Potts 
 
 
 
 
Notes to Editors 
 
 
About Oxonica plc - www.oxonica.com 
 
 
Oxonica (AIM: OXN.L) is a leading nanomaterials group with products already 
launched into international markets. Oxonica's leading product is Envirox(TM) 
Fuel Borne Catalyst - a nanocatalyst improving fuel economy and reducing 
emissions. The Group has also developed Optisol(TM), a photostable UV protection 
system designed to optimise the performance of quality sunscreens and 
anti-premature ageing products, and 
generates licence and development revenue from activities in the clinical 
diagnostics and security markets. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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