ALM.L Regulatory News (ALM)

11 March 2022

Allied Minds plc

("Allied Minds" or the "Company")

Board Change

Allied Minds plc (LSE: ALM), the IP commercialisation company focused on early stage company development within the technology sector, announces that Mark Lerdal informed the Board yesterday of his wish to resign as a Non-executive Director of the Company with immediate effect. The Board has accepted his resignation.

In his notice of resignation, Mark Lerdal (originally nominated by Crystal Amber) thanked the Board and confirmed his support for the plan for Allied Minds going forward. The strategic plan is set out in the circular to shareholders dated 9 March 2022. As the plan was now underway, he believed it was an opportune time for him to stand down from the Board.

The Board will immediately commence a process to determine the most appropriate Board and governance composition going forward.

Harry Rein, Chairman of Allied Minds, commented:

"I thank Mark for his time and effort whilst on the Board of Allied Minds. He, Bruce Failing and I have enjoyed working together since our respective appointments. I am particularly grateful for his support for the strategic plan we have set out in our circular to shareholders."

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About Allied Minds

Allied Minds plc is an IP commercialisation company focused on early stage company development within the technology sector. With origination relationships that span US federal laboratories, universities, and leading US corporations, Allied Minds historically created, and now operates and funds, a portfolio of companies to generate long-term value for its investors and stakeholders. Based in Boston, Allied Minds supports its businesses with capital, management, expertise and shared services. For more information, please visit www.alliedminds.com.