Share Name Share Symbol Market Type Share ISIN Share Description
Purecircle Limited LSE:PURE London Ordinary Share BMG7300G1096 ORD USD0.10 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 131.20 129.60 132.80 0.00 0.00 0.00 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 99.2 5.7 3.8 33.7 242

PureCircle Limited Management and Board Committee Changes

27/12/2019 2:50pm

UK Regulatory (RNS & others)


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RNS Number : 1683Y

PureCircle Limited

27 December 2019

Management and Board Committee Changes

PureCircle (LSE: PURE), the world's leading producer and innovator of great-tasting stevia, announces the following changes to its management team and board committees.

Mr. James Ritchie has been appointed Chief Restructuring Officer and Interim Chief Financial Officer of PureCircle with immediate effect.

Board committee membership changes

In addition, pursuant to Listing Rule 9.6.11R, PureCircle announces the following changes to the Board Committees with immediate effect:

-- Guy Wollaert has been appointed Chair of the Remuneration Committee and will step down as Chair of Nomination Committee

   --     Ali bin Abdul Kadir, Datuk ("Datuk Ali") joins the Audit Committee as Chairman 

-- Robert Cheim Dau Meng, Dato', ("Dato' Robert Cheim") joins the Remuneration Committee and Nomination Committee

-- Wan Azmi Wan Hamzah, Tan Sri ("Tan Sri Wan Azmi") (Non-Independent Non-Executive Director) joins the Nomination Committee

   --     Rosemarie Andolino joins the Nomination Committee and the Remuneration Committee 
   --     John Slosar, currently a member of the Nomination Committee, has been appointed as Chair 

In addition to these changes, Guy Wollaert has been appointed as Senior Independent Director of the Company. Guy was appointed as a Non-Executive Director of the Company on 10 July 2015 and this Senior Independent Director appointment is in addition to his role on the Board Committees.

Independence

UK Corporate Governance Code ("the Code") provides that the Board should identify the directors it considers to be independent, and should state its reasons if it determines that a Director is independent notwithstanding the existence of relationships or circumstances which may appear relevant to its determination, including if the Director has received or receives additional remuneration from the Company, apart from a director's fee.

Rosemarie Andolino was appointed on 1 July 2019 as advisor to the Chief Executive on matters relating to opening up sales to food services customers and received remuneration for her additional role. She continues to provide rigorous, independent challenge to management and in Board meetings. Her advisory role ends effective 31 December 2019. The Board considers her to be independent for the purposes of the Code.

Following review of the membership of PureCircle Board Committees, the membership of all its committees according to its Board Charter are as follows:

Remuneration Committee

Guy Wollaert (Chair)

Rosemarie S. Andolino

Robert Cheim Dau Meng, Dato'

John Slosar

Audit Committee

Ali bin Abdul Kadir, Datuk (Chair)

Ann Marie Scichili

Guy Wollaert

Nomination Committee

John Slosar (Chair)

Rosemarie S. Andolino

Robert Cheim Dau Meng, Dato'

Ann Marie Scichili

Wan Azmi Wan Hamzah, Tan Sri (non-independent director)

Disclosure Committee

John Slosar

James Ritchie

Treasury Committee

CEO

CFO

VP, Corporate Finance

Group Financial Controller

Global Operations Finance Director

Senior Treasury Manager

27 December 2019

Enquiries:

Investors/Analysts

James Ritchie, Chief Restructuring Officer and Interim CFO

Phone: +603 2166 2206

Newgate Communications, Media Relations

Elisabeth Cowell

Giles Croot

Email: purecircle@newgatecomms.com

Phone: +44 (0) 20 3757 6880

Notes to Editors

About PureCircle

-- PureCircle is the only company that combines advanced R&D with full vertical integration from farm to high-quality, great-tasting innovative stevia sweeteners.

-- The Company collaborates with farmers who grow the stevia plants and with food and beverage companies which seek to improve their low- and no-calorie formulations using a sweetener from plants.

-- PureCircle will continue to: lead in research, development and innovation; produce a growing supply of multiple varieties of stevia sweeteners with sugar-like taste, using all necessary and appropriate methods of production; and be a resource and innovation partner for food and beverage companies.

-- PureCircle stevia flavor modifiers work in synergy with sweeteners to improve the taste, mouthfeel and calorie profile, and enhance the cost effectiveness, of beverage and food products.

-- Founded in 2002, PureCircle is continually investing in breakthrough research and development and it has been granted over 130 stevia-related patents with more than 250 applied for patents pending.

   --      PureCircle has offices around the world with the global headquarters in Chicago, Illinois. 

-- To meet growing demand for stevia sweeteners, PureCircle is rapidly ramping up its supply capability. It completed expansion of its Malaysian stevia extract facility in March 2017, increasing its capacity to rapidly supply the newer and great-tasting specialty stevia sweeteners and helping provide ever-increasing value to its customers.

   --      PureCircle's shares are listed on the main market of the London Stock Exchange. 
   --      For more information, visit: www.purecircle.com 

About stevia

-- Given the growing global concerns about obesity and diabetes, beverage and food companies are working responsibly to reduce sugar and calories in their products, responding to both consumers and health and wellness advocates. Sweeteners from the stevia plant offer sugar-like taste and are becoming an increasingly important tool for these companies.

-- Like sugar, stevia sweeteners are from plants. But unlike sugar, they enable low-calorie and zero-calorie formulations of beverages and foods.

-- Stevia leaf extract is a natural-based, zero calorie, high-intensity sweetener, used by global food and beverage companies as a great-tasting zero-calorie alternative to sugar and artificial sweeteners.

-- Stevia is a naturally sweet plant native to South America; today, it is grown around the world, notably in Kenya, China and the US.

   --      The sweet-tasting parts of the stevia leaf are up to 350 times sweeter than sugar: stevia's high-intensity sweetness means it requires far less water and land than sugar. 

-- Research has shown that the molecules of the stevia leaf are present and unchanged in the dried stevia leaf, through the commercial extraction and purification process, and in the final stevia leaf extract product. All major global regulatory organisations, across 65 countries, have approved the use of high-purity stevia leaf extracts in food and beverages.

-- Stevia has strong environmental benefits when compared to sugar requiring less water, less land area and having a lower carbon footprint.

-- For more information on the science of stevia, please visit https://www.purecirclesteviainstitute.com/

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.

END

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December 27, 2019 09:50 ET (14:50 GMT)

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