10 Jul 2008 07:00
10 July 2008 Imperial Innovations Group plc ("Imperial Innovations") Appointment of non-executive director
Imperial Innovations Group plc (AIM: IVO), a leading technology transfer and commercialisation company, is pleased to announce the appointment of Dr David Allen to the board of directors as a non-executive director. The appointment will be effective from 1 August 2008.
Dr Allen joins Imperial Innovations after nearly 30 years with BP plc, one of the world's leading energy firms. During his career with BP he held various posts within the group, including five years as a main board director, and was Chief of Staff from 2000 until 2007. Dr Allen has a D.Phil. in physical chemistry from Hertford College, Oxford.
Martin Knight, Chairman of Imperial Innovations, commented: `We are delighted to welcome David to the board of Imperial Innovations. His vast experience of the public marketplace as well as his detailed knowledge of - and contribution to - a world class industrial environment will be very valuable to the board's deliberations.'
Dr Allen said: `I am very pleased to be joining the board of Imperial Innovations in a role which will let me re-engage with science where it meets business in the most creative way. The quality of technology, which the Company is seeking to commercialise, is of the highest calibre. I look forward to being able to help the Company realise its ambitions.'
Information regarding the appointment of Dr David Allen as non-executive director:
Full name: David Christopher Allen
Age: 53
Current Directorships:
* Truslers Hill Farms Limited (a privately held farming company) * Centre For Effective Dispute Resolution Limited (a charitable company limited by guarantee)
Previous Directorships within the last five years:
* BP plc (from 1 February 2003 until 31 March 2008) * Various 100% subsidiaries of BP plc, the directorships of which all terminated on 31 March 2008, other than of BP Pensions Trustees Limited which terminated on 2 April 2008 * Txist Limited (a privately held company) (from June 2004 until December 2007)
Dr Allen has no interest in any ordinary shares or options in Imperial Innovations
There are no further details to be disclosed under Rule 17 Schedule 2 paragraph (g) (i) to (viii) of the AIM Rules.
-Ends- For more information contact:Imperial Innovations
Martin Knight (Chairman) +44 (0)20 7594 1403
Susan Searle (Chief Executive Officer) +44 (0)20 7594 6591
JPMorgan Cazenove
(Nominated Adviser)
Steve Baldwin +44 (0)20 7588 2828
M:Communications
Patrick d'Ancona +44 (0)20 7153 1547
About Imperial Innovations
Imperial Innovations is one of the UK's leading technology transfer and commercialisation companies. The company was founded in 1986 and its ordinary shares admitted to trading on the AIM Market of London Stock Exchange plc in July 2006, raising ‚£25 million at an offer price of 365p and ‚£1 million by means of a public offer. In November 2007, the company raised a further ‚£30 million by means of a placing of new ordinary shares with investors.
The company's integrated approach encompasses the identification of ideas, protection of intellectual property, development and licensing of technology and formation, incubation and investment in technology businesses. A wide range of technologies are commercialised within the areas of Healthcare, Energy & Environment, Engineering and Software & IT.
As at the close of its last financial year in July 2007, the company - based at Imperial College London - had established equity holdings in 74 technology businesses and was managing 133 commercial agreements. Imperial Innovations also commercialises technologies originating from outside Imperial College through incubation contracts with the Carbon Trust and WRAP and has commercialisation contracts with a number of multinational corporations.
www.imperialinnovations.co.uk
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