21 Oct 2011 07:00
AorTech International plc (the "Company" or "AorTech")Directorate Change
AorTech International plc (AIM: AOR) the biomaterials and medical device development company, is pleased to announce the appointment of Bill Brown as non-executive director of the Company with immediate effect.
William Donald Brown, aged 48, has been advising and investing in small companies for over 20 years. Having qualified as a chartered accountant in 1986, he started a career in venture capital with INVESCO before moving to Baronsmead (which later became Ivory & Sime, Friends Ivory & Sime, then ISIS). In 1996 he launched the seminal AIM Trust, the first dedicated fund for the AIM market. Bill went on to become head of ISIS's small company investment teams based in Edinburgh and London before leaving to found Bluehone Investors LLP in 2005. Bill is a former Chairman of the London Stock Exchange's AIM Advisory Group.
AorTech also announces that Stuart Rollason, non-executive director of the Company has resigned from the Board with immediate effect. The Board expresses its gratitude to Stuart for his service to the Company and wishes him well in the future.
Frank Maguire, Chief Executive of the Company, commented: "I would like to extend my thanks on behalf of the Board to Stuart Rollason for his contribution during the company's restructuring phase in 2004 and 2005 and in the development of its business model thereafter. We wish him all the best in his future endeavours. Separately, we are delighted to welcome Bill to the board and believe his extensive experience of the UK public markets and growth companies will be invaluable to AorTech as we enter a new phase following the relocation of our operations from Australia to the US and seek to capitalise on the commercial opportunities that the move is expected to bring."
There is no further information to be disclosed in accordance with Schedule 2 paragraph (g) of the AIM Rules, save as set out below:
Bill is currently a director of the following companies:
Target Dealing Company Limited
WB (No.1) Limited
Bluehone General Partner (DCP) Limited
Bluehone Partner Limited
Bluehone Ventures Limited
Bluehone Ventures Nominees Limited
Bluehone Limited
Bluehone Holdings plc
Cambridge Sensors Limited
Bill is also currently a partner of Bluehone Investors LLP which manages the investment portfolio of Active Capital Trust plc, which in turn holds 891,861 ordinary shares in the Company, representing 18.45 per cent. of the current issued share capital of the Company.
Bill has, in the last 5 years, been a director of the following companies:
Impax Environmental Markets plc
Landround plc
21 October 2011
For further information contact:
AorTech International plc
Frank Maguire, Chief Executive Tel: + 1 801 201 4336
AorTech International plc
Sarah Price, Media Relations Tel: + 1 801 550 4349
e-mail: sprice@aortech.com
Evolution Securities Limited
Chris Clarke Tel: +44 20 7071 4300