GWP.L Regulatory News (GWP)

26 Jan 2007 07:00

GW Pharmaceuticals PLC26 January 2007 GW STRENGTHENS BOARD WITH APPOINTMENT OF JAMES NOBLE Porton Down, UK, 26 January 2007: GW Pharmaceuticals plc (AIM: GWP) is pleasedto announce the appointment of James Noble as an independent non-executivedirector with immediate effect. James has also been nominated as seniorindependent director, and will sit on the Remuneration Committee as well as theAudit Committee, which he has agreed to Chair in due course. James, aged 47, has extensive experience in the biotech industry and was mostrecently CEO of Avidex Limited, a private biotech company, which was sold inlate 2006 to MediGene AG, of which he will shortly be joining the SupervisoryBoard. James is also a non-executive director of Albany Capital plc, anAIM-listed investment company, Finsbury Worldwide Pharmaceutical Trust plc, oneof the largest investment trusts specialising in healthcare companies, andCuraGen Corporation, a NASDAQ listed biopharmaceutical company. In 2003, James was a member of the UK government committee on funding the UKbiotech industry. From 1997-2001, he held numerous non-executive directorpositions including PowderJect Pharmaceuticals plc, Oxford GlycoSciences plc(OGS), Advanced Medical Solutions plc, as well as number of other private UK,European and US biotech companies. At PowderJect and OGS, he was a directorprior to and following flotation of these companies, and in particular played akey role in the secondary IPO of OGS on NASDAQ, which raised £175m. Prior to this, James was a director of corporate finance at Kleinwort Benson(1983-90) and Finance Director of British Biotech Plc (1990-7). James startedhis career at PriceWaterhouse, where he qualified as a chartered accountant. James' appointment is part of a corporate governance review process agreed bythe Board in recent months to review the proportion of independent non-executivedirectors. As part of this process, David Mace, who has been a non-executivedirector for six years, will not be offering himself for re-election at the nextAnnual General Meeting. Dr Geoffrey Guy, Chairman, said, "We are very pleased to welcome James to the GWBoard as senior independent non-executive director. James has been a prominentmember of the UK biotech sector for many years and brings with him extensiveexperience as a non-executive director which will be of great value to GW. "I should also like to take this opportunity to thank David Mace, who intends toretire from the Board at the forthcoming AGM. David joined the Board as ourfirst non-executive and has been a committed and valued director over the lastsix years. I am most grateful to him for his important contribution to thecompany." Enquiries: GW Pharmaceuticals plc (26/01/07) + 44 20 7831 3113Dr Geoffrey Guy, Executive Chairman (Thereafter) + 44 1980 557000Justin Gover, Managing Director Financial Dynamics + 44 20 7831 3113David Yates / Ben Atwell Additional Information in relation to James Noble: On 10 June 1999, the U.S. Securities and Exchange Commission (the 'SEC')completed an enquiry relating to two press announcements issued in 1995 and 1996by British Biotech Plc, of which James Noble was previously Finance Director.The SEC then filed an administrative complaint that those announcements andrelated periodic reports filed with the SEC were inaccurate and omitted to statematerial facts necessary to make the statements made therein not misleading.Under a final settlement reached with the SEC in June 1999, British Biotech Plcand three of its then directors including Mr. Noble agreed to the entry of anadministrative order to continue to adhere to U.S. securities laws. Thesettlement involved no admission or denial by either British Biotech Plc or thethree former directors of the SEC's allegations. Mr Noble is, or has been in the 5 years prior to the date of this announcement,a director or partner in the following companies or partnerships: Avidex LimitedAlbany Capital plcFinsbury Worldwide Pharmaceutical Trust plcCuraGen Corporation This information is provided by RNS The company news service from the London Stock Exchange