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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
York Pharma | LSE:YRK | London | Ordinary Share | GB00B00QHC86 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMYRK RNS Number : 9449L York Pharma plc 20 January 2009 York Pharma plc ("York Pharma" or "the Company") Board Changes & Market Update Milton Keynes, UK, 20 January 2009, York Pharma plc (YRK.L), the specialist dermatology company, provides the following update to its strategic review announced on 14 January 2009. To implement its strategic review, York Pharma is making the following changes to its Board and operational structure with immediate effect. Terry Sadler, York Pharma's Chief Executive and founder of the business will move to a new board position as President & Founder. He will focus on strategic direction and development of the business going forwards. Richard Anderson (42) has replaced Terry Sadler as Chief Executive Officer. Mr Anderson has over 20 years experience in the pharmaceutical industry, principally with Astra Zeneca in a range of UK based and international roles and latterly as Director of Commercial Planning. Subsequently he went on to be Group Vice President of Taro Pharmaceuticals Inc. based in New York where he led the development of their US prescription business and then went on to be Managing Director of Taro Pharmaceuticals Europe. He was also the founder and CEO of Derms Development Ltd which he built up through a series of acquisitions before divesting to York in November 2007. Ian Miscampbell (47) is appointed as Chief Financial Officer. Mr Miscampbell qualified as a Chartered Accountant with KPMG in 1987 and spent 8 years with the firm in the UK and internationally. Subsequently, he has held the position of Finance Director within the pharmaceutical industry with ReNeuron Limited, KS Biomedix Holdings Plc, Microscience Holdings Plc, Oxford Immunotec Limited, and most recently William Ransom & Son Plc. He was also an independent non-executive director of Synexus Clinical Research plc. Simon Ainley of Walker Ainley Associates will remain as a consultant to the Company for a period to ensure an orderly handover of responsibilities to Ian Miscampbell. Lothar Nau and Michael Garrison will step down from their respective board positions as Chief Operating Officer and Commercial Director. The release of the Company's results for the financial year ending 30 September 2008 will now be delayed until 20 March 2009 to allow time for the necessary adjustments and revaluations arising from the return of Flammazine & Flammacerium to be properly reflected in the statutory accounts. Incoming Chief Executive Richard Anderson commented, "We will use recent events as a positive stimulus to restructure and refocus our business to ensure strong growth and profitability is achieved and maintained. We are fortunate that the business has an enviable core asset base and Europe wide sales distribution, which is delivering performance in line with the Company's expectations. The new team will simplify the business and focus resources on the establishment of a sustainable and profitable speciality pharmaceutical business." Mr Richard James Anderson (aged 42) holds or has held the following directorships, and is or was a member of the following partnerships during the past five years: +--------------------------------------+---+--------------------------------------+ | Current Directorships / | | Past Directorships / Partnerships: | | Partnerships: | | | +--------------------------------------+---+--------------------------------------+ | | | | +--------------------------------------+---+--------------------------------------+ | JJS Pharma (UK) Limited | | Derms Development Limited | +--------------------------------------+---+--------------------------------------+ | | | | +--------------------------------------+---+--------------------------------------+ | | | Crawford Healthcare Limited | +--------------------------------------+---+--------------------------------------+ | | | | +--------------------------------------+---+--------------------------------------+ | | | Taro (UK) Limited | +--------------------------------------+---+--------------------------------------+ Mr Anderson is the beneficial owner of 673,000 ordinary shares in the Company. Mr Ian Alexander Francis Miscampbell (aged 47) holds or has held the following directorships, and is or was a member of the following partnerships during the past five years: +--------------------------------------+---+--------------------------------------+ | Current Directorships / | | Past Directorships / Partnerships: | | Partnerships: | | | +--------------------------------------+---+--------------------------------------+ | | | | +--------------------------------------+---+--------------------------------------+ | None | | William Ransom & Son plc | +--------------------------------------+---+--------------------------------------+ | | | | +--------------------------------------+---+--------------------------------------+ | | | Oxford Immunotec Limited | +--------------------------------------+---+--------------------------------------+ | | | | +--------------------------------------+---+--------------------------------------+ | | | Synexus Clinical Research plc | +--------------------------------------+---+--------------------------------------+ | | | | +--------------------------------------+---+--------------------------------------+ | | | Microscience Holdings plc | +--------------------------------------+---+--------------------------------------+ Mr Miscampbell does not own any ordinary shares in the Company. As part of their employment packages, Mr Anderson and Mr Miscampbell will each be granted one million options vesting in three equal portions over a 3 year period up to January 2012. The subscription price of these options is 6p, being the mid market price of York Pharma's shares as at close of market on 19 January 2009. There are no further disclosures required in respect of Mr Anderson and Mr Miscampbell under paragraph (g) of Schedule Two of the AIM Rules for Companies. For more information please contact: +-----------------------------------------+------------------------------+ | York Pharma plc | Tel: +44 (0) 870 066 4453 | | Richard Anderson, Chief Executive | | | Officer | | +-----------------------------------------+------------------------------+ | | | +-----------------------------------------+------------------------------+ | Collins Stewart Europe Limited | Tel: +44 (0) 207 523 8350 | | Hugh Field | | +-----------------------------------------+------------------------------+ | | | +-----------------------------------------+------------------------------+ | FinnCap | Tel: +44 (0) 207 600 1658 | | Geoff Nash | | +-----------------------------------------+------------------------------+ | | | +-----------------------------------------+------------------------------+ | Financial Dynamics | Tel: +44 (0) 207 831 3113 | | David Yates / Ben Brewerton / Emma | | | Thompson | | +-----------------------------------------+------------------------------+ About York Pharma PLC YORK PHARMA PLC is a pharmaceutical Group, established in 2003, which develops, markets and supplies branded dermatological products to pharmaceutical wholesalers, hospitals and general practitioners within the field of dermatology. The Group currently has at its disposal more than 20 patent families (with over 100 individual patents/patent applications) and intellectual property in relation to its portfolio of novel dermatology products and technology platforms in the key therapeutic areas of fungal infection, eczema/dermatitis, psoriasis, vitiligo and acne that make up more than 87% of the global $10bn dermatology market. For more information, visit www.yorkpharma.com. - end - This information is provided by RNS The company news service from the London Stock Exchange END BOAILFLSLDIIFIA
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