CML Microcircuits Regulatory News (CML)

28th March 2017

CML Microsystems Plc

Appointment of Non-Executive Director

CML Microsystems Plc, ("CML", "Company" or "the Group"), which designs, manufactures and markets mixed-signal and Radio Frequency (RF) semiconductors, primarily for global communication and solid state storage markets, is pleased to announce the appointment of Geoff Barnes as Non-Executive Director. The appointment will take effect from 1 April 2017. 

Geoff is currently a director of Baker Tilly International having transitioned to the role in June 2016 after serving as its CEO and President for 16 years. During that period he grew the business to be ranked as the 8th largest global accounting organisation, trading across 145 countries, with global revenues of US$3.8bn. He is Non-Executive Chairman of the Supervisory Board of Baker Tilly South East Europe Ltd. He is also a strategic advisor on international matters to a major city law firm and chairman of the International Advisory Panel of the Institute of Chartered Accountants in England and Wales, having previously served as a member of its Council. In 2015, Geoff was awarded the prestigious life-time achievement award by the International Accounting Bulletin for services to global public accounting.

Previous roles include 18 years with Casson Beckman, a leading mid-tier firm of chartered accountants in London, culminating in the position of executive chairman and 6 years with Deloitte Haskins & Sells in London where he qualified as a chartered accountant. Geoff shall be a member of both the Audit Committee, as Chairman, and the Remuneration committee.

The above disclosure is made pursuant to Listing Rule 9.6.13R, and the Company confirms that no further information is required to be disclosed pursuant to Listing Rule 9.6.13R.

About CML Microsystems PLC

CML designs and develops semiconductors for the industrial storage and communications markets. The Group utilises a combination of in-house and outsourced manufacturing and has trading operations in Europe, the Far East and USA. CML targets niche 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 telecoms equipment providers and industrial product manufacturers.

The spread of its customers and products 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 ever increasing trend towards solid state storage devices in the commercial and industrial sectors, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial communications networks for voice and/or data communications linked to the industrial internet of things (IIoT).

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