CML Microcircuits Regulatory News (CML)

1 December 2023

CML Microsystems Plc

("CML", the "Company" or the "Group") 

Board & Senior Management Appointments

CML, which develops mixed-signal, RF and microwave semiconductors for global communications markets, is pleased to announce that Mark McCabe has been appointed as an Executive Director to the Board of the Company as Chief Operating Officer, effective immediately.

Mark joined the Group in 2016 as Managing Director of the Communications business division. Immediately prior to joining CML, Mark was UK business unit manager for Air Liquide, a world leader in the supply of gases to the nuclear, food and electronics markets. Previously he gained extensive experience within the electronics component industry serving as Managing Director of Semelab (a subsidiary of TT Electronics PLC), as executive VP at SRC Devices, Inc. (a company acquired by Littelfuse Inc) and through a variety of sales, marketing and operational roles at Semitron, where he participated in a successful MBO. Mark qualified as an Electrical and Electronic Engineer working in various Ministry of Defence establishments.

Nigel Clark, Executive Chairman of CML, said: "Mark brings to the Board a deep understanding of our business and has played an important role in executing our growth strategy whilst working to continuously improve our operational effectiveness."

In a further move to support the Group's long-term sustainable growth objectives, Michelle Jones has recently been appointed to the senior management position of Director of Finance and Company Secretary.

Michelle joined the Company in 2018 as Group Financial Controller and in July 2020 was appointed to the additional role of Company Secretary.

Prior to CML, Michelle spent ten years at the Regis Group Plc, a leading real estate company, where she held the position of Group Financial Controller. During previous roles Michelle held similar positions at Derichebourg Multiservices, a company providing servicing facilities to the aircraft industry and at Thermos Limited, a manufacturer and distributor of Thermos branded products throughout Europe. Earlier experience included a number of management accountant roles, including working for an NHS trust. She is a qualified chartered certified accountant, holding a FCCA. 

Chris Gurry, Group Managing Director commented: ''I am delighted to welcome Michelle to this new role. She is a key member of the management team, in recent years helping to successfully steer the business through a period that has included strategic M&A activity, the successful installation of a global ERP system and operational challenges associated with the pandemic."

Please refer to Annex 1 for all further disclosure relating to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.

ANNEX 1

Regulatory Disclosures (in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies)

Save for the information set out above and below, there are no further disclosures to be made in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in respect of the appointments of Mark John McCabe, aged 54. Mark McCabe currently does not hold any shares in the Company.

Mark McCabe, is, or has been in the previous five years, a director of the following companies:

About CML Microsystems Plc

CML develops mixed-signal, RF and microwave semiconductors for global communications markets. The Group utilises a combination of outsourced manufacturing and in-house testing with trading operations in the UK, Asia and USA. CML targets sub-segments within Communication markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading commercial and industrial product manufacturers.

The spread of its customers and diversity of the product range largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the appetite for data to be transmitted faster and more securely, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial wireless networks for voice and/or data communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.