LID.L Regulatory News (LID)

LIDCO GROUP PLC

("LiDCO" or the "Company" or the "Group")

Board Changes

LiDCO (AIM: LID), the hemodynamic monitoring company, announces the following changes to the Board:

- Peter Grant is joining as Non-Executive Director and Chairman Designate with effect from 6 March 2017

- Theresa Wallis, current Chairman of the Board, Audit and Nomination Committees intends to step down from the Board at the 2017 Annual General Meeting

- Jill McGregor is joining the Board as Chief Financial Officer, taking up her appointment no later than 3 July 2017

- Paul Clifford, current Finance Director, will retire from the Board at the end of March 2017

- Ian Brown, current Non-Executive Director, intends to step down at the 2017 Annual General Meeting

Peter Grant

Peter Grant is joining the Board of the Company as Non-Executive Director and Chairman Designate with effect from 6 March 2017. It is the Board's intention that Mr Grant will succeed Ms Wallis as Chairman of the Board, Audit and Nomination Committees when she steps down at the 2017 Annual General Meeting.

Mr Grant was Chief Executive Officer of Skyepharma Plc from January 2012 to June 2016 until its merger with Vectura Group plc. He joined Skyepharma as Chief Financial Officer in November 2006. In his four years as Chief Executive Officer of Skyepharma, the business was transformed onto a strong growth path with revenues up 74% and pre-exceptional operating profit up 165%.

Prior to Skyepharma, Mr Grant held board positions as Interim Chief Executive Officer at Voice Commerce Group, Group Finance Director at Eurodis Electron PLC, Chief Financial Officer at WorldPay plc and Finance Director then Group Chief Executive at Molins PLC. Prior to this he held a variety of senior commercial, financial and general management roles in the General Electric Company PLC group of companies. He holds an MA in Mathematics from the University of Oxford and is a Chartered Accountant.

Mr Grant is currently Non-Executive Director and Chair of the Audit and Risk Committee at Abzena plc, an AIM quoted life sciences group providing services and technologies enabling the development and manufacture of biopharmaceutical products.

On his appointment, Mr Grant will be a member of the Audit, Nomination and Remuneration Committees of the Company.

Jill McGregor

Ms McGregor is a Chartered Accountant and has over 25 years' experience in a number of finance roles. Ms McGregor joins LiDCO after six years as Chief Financial Officer of Touch Bionics, a UK based provider of upper limb technologies, with operations in the USA and Germany which was recently acquired by Össur. Prior to this, Ms McGregor spent seven years at Optos plc, a provider of retinal imaging devices, as Group Financial Controller and then as Vice President and Director of Finance. Optos listed on the London Stock Exchange in 2006 and was acquired by Nikon in 2015.

Ms McGregor will take up her appointment and join the Board no later than 3 July 2017. In the interim period between Mr Clifford retiring and Ms McGregor joining, LiDCO intends to appoint Mr David Parry, as interim Head of Finance. Mr Parry has extensive experience in entrepreneurial SME businesses, including private equity backed and AIM quoted companies. He was previously finance director of AIM quoted Prologic plc.

Both Ms Wallis and Mr Brown intend to step down at the 2017 Annual General Meeting after being on the board for 14 and 11 years respectively.

Commenting, Theresa Wallis, Non-Executive Chairman of LiDCO, said: "On behalf of the Board I warmly welcome Peter Grant as my successor when I step down at the AGM and thank Paul Clifford and Ian Brown for their services to the Company. These changes and the arrival of Jill McGregor as Chief Financial Officer in the next few months will complete the refreshing of the Board that began with the appointment of Matt Sassone in 2015. This renewal of the Board has taken account of the need to enable the transfer of knowledge to the succeeding directors."

Commenting on the appointments, Matt Sassone, Chief Executive Officer of LiDCO, said: "I am very pleased to be welcoming Peter and Jill to the Board of LiDCO and we look forward to benefiting from their breadth of experience as we enter the next stage of the Company's growth. I would like to extend my thanks to Theresa, Ian and Paul for all of their support and guidance during my first 19 months as CEO."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

The following information is disclosed pursuant to Rule 17 and Schedule Two Paragraph (g) of the AIM Rules for Companies:

Philip William Grant, age 61, holds or has held the following directorships or partnerships in the past five years:

Mr Grant resigned from the board of Eurodis Electron PLC in January 2005 for family health reasons. In March 2005, a major franchiser gave notice of termination of its relationship with Eurodis Electron PLC, and in July 2005 the lead finance provider to Eurodis Electron PLC reduced the facilities and the company (and a number of its subsidiaries) went into administration.

Peter currently holds no interest in the ordinary share capital, or other securities, of LiDCO.

Save as disclosed above there are no additional disclosures to be made in accordance with Rule 17 or Schedule Two paragraph (g) of the AIM rules regarding Peter Grant.

Jill Amanda McGregor, age 54, holds or has held the following directorships or partnerships in the past five years:

Jill currently holds no interest in the ordinary share capital, or other securities, of LiDCO.

Save as disclosed above there are no additional disclosures to be made in accordance with Rule 17 or Schedule Two paragraph (g) of the AIM rules regarding Jill McGregor.

About LiDCO Group Plc (www.lidco.com)

LiDCO is a supplier of non-invasive and minimally invasive hemodynamic equipment to hospitals used to monitor the amount of blood flowing around the body and ensure that vital organs are adequately oxygenated. LiDCO's products facilitate the application of hemodynamic optimisation protocols for high risk patients in both critical care units and in the operating theatre. 

Increasingly clinical studies are showing that the optimisation of patients' hemodynamic status in high risk patients produces better outcomes and reduced hospital stay. LiDCO's computer-based technology, developed at St Thomas' Hospital in London, has been shown to significantly reduce morbidity and complications, length of stay and overall costs associated with major surgery.

Key Products:

LiDCOunity: a hemodynamic monitor that combines the full suite of LiDCO technology (non-invasive, minimally invasive and calibrated technologies) into one platform. Designed to have the flexibility to adapt to a patient's changing acuity, the product enables clinicians to seamlessly transition between non-invasive, minimally invasive and calibrated hemodynamic monitoring.

LiDCOplus: a computer-based platform monitor used in the Intensive Care Unit for real-time continuous display of hemodynamic parameters including cardiac output, oxygen delivery and fluid-volume responsiveness (PPV% and SVV%).

LiDCOrapid: a cardiac output monitor designed specifically for use in the operating theatre for fluid and drug management. The monitor enables anaesthetists to receive accurate and immediate feedback on the patient's fluid and hemodynamic status - a key measure of overall well-being before, during and after surgery. The LiDCOrapid provides:

· early and rapid warning of hemodynamic change to aid choice of therapeutic route: fluid or drug

· quantification of hemodynamic response guidance on effective delivery of fluids to ensure the right amount at the right time

The software incorporated into LiDCOrapid allows the LiDCOrapid monitor to co-display Medtronic's level of consciousness parameter ('BISTM')* and add the convenience of CNSystem's continuous non-invasive blood pressure monitoring ('CNAP')**. This addresses a growing requirement for non-invasive monitoring solutions that are more comprehensive and can effectively replace multiple single parameter monitors. 

LiDCOview: an easy-to-use graphical display of historical LiDCOplus and LiDCOrapid hemodynamic data.

*BISTM and Bispectral Index are trademarks of Medtronic registered in the US and foreign countries.

**CNAPTM is a trademark of CNSystems Medizintechnik AG.

LiDCO monitors use single-patient disposables (sensors or smartcards) which provide an ongoing revenue stream.

LiDCO Distribution Network:

LiDCO sells directly to hospitals in the UK and USA and through a network of specialty critical care and anaesthesia distributors in the rest of the world.

LiDCO's headquarters are in London and its shares are traded on AIM.