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PureCircle Chair, CFO And Non-Execs To Step Down Amid Ingredion Deal

Mon, 29th Jun 2020 17:59

(Alliance News) - PureCircle Ltd on Monday said its chair and chief financial officer will step down this week.

Non-Executive Chair Dato Meng and CFO Jimmy Thong will step down on Wednesday, once a court order sanctioning a takeover of the stevia sweetener maker by Ingredion Inc is processed.

Datuk Kadir, Sridhar Krishnan, Olivier Maes, Tan Hamzah and Guy Wollaert will step down as non-executive directors as well.

"PureCircle would like to thank all of the resigning directors for their contribution to the PureCircle board over the last years and wish them well with their other business endeavours," the company said.

Back in April, PureCircle agreed a GBP185.3 million takeover offer from US-based food ingredients maker Ingredion.

PureCircle shares closed 2.3% higher at 98.60 pence each in London on Monday, giving it a market capitalisation of GBP181.9 million.

By Eric Cunha; ericcunha@alliancenews.com

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