13 Sep 2012 07:00
This press release does not constitute or form a part of, and should not be construed as, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in MyCelx Technologies Corporation ("MyCelx" or the "Company").
THE COMPANY'S COMMON SHARES HAVE NOT BEEN REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "US SECURITIES ACT") OR ANY STATE SECURITIES LAWS (THE "STATE ACTS") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS THE SECURITIES ARE REGISTERED UNDER THE US SECURITIES ACT AND ANY APPLICABLE STATE ACTS, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE US SECURITIES ACT AND ANY APPLICABLE STATE ACTS IS AVAILABLE.
13 September, 2012
MYCELX TECHNOLOGIES CORPORATION
("MyCelx Technologies, Inc, or the "Company")
Appointment of Chief Financial Officer and Board Director; Grant of Options
MyCelx Technologies, Inc (AIM - common shares: MYXR / DI: MYX), the clean water technology company providing patented solutions for commercial industrial markets worldwide, is pleased to announce the appointment of Mark David Clark, 48, as Chief Financial Officer ("CFO"), Treasurer and a member of the MyCelx Board with immediate effect. This follows his appointment as Interim CFO, as announced on 9 May 2012.
Mr Clark joined MyCelx in October 2011 following a 14 year career at Invesco, Ltd. He is a Certified Public Accountant and holds a BBA in Accounting (Magna Cum Laude) from the University of Louisiana at Monroe.
There is no other information that is required to be disclosed with regards to the above mentioned appointment pursuant to Schedule 2 paragraph (g) of the AIM Rules.
Mark Clark was granted an option on 11 September 2012 under the MyCelx Omnibus Performance Incentive Plan over the Company's common shares of US$0.025 each. The grant was as follows:
Name of Director | Number of share options granted | Exercise price | Total number of share options held following this notification | Total number of share options as % of current issued share capital |
Mark Clark | 90,000 | US$4.02* | 100,000 | 0.8% |
*Based on the mid-market closing price of the Company's common shares at 11 September 2012, and the closing US/£ exchange rate at that date.
The share options granted on 11 September 2012 will vest as follows: 30,000 vest immediately; 30,000 vest on 1 September 2013, and the remaining 30,000 vest on 1 September 2014. Following vesting, the options are exercisable up to 10 years from the date of vesting, subject to the restrictions on dealing under the Company's share dealing code. Mark Clark does not hold any other shares in the Company.
Appointment of Business Development Director
The Company is also pleased to announce the appointment with immediate effect of Nick Stamp as Business Development Director for Europe and Asia. Mr Stamp qualified as a Chartered Accountant in 2004 with Ernst & Young, and has 11 years' experience in the natural resources sector, most recently in corporate finance with Numis Securities Limited and Collins Stewart Hawkpoint plc.
Commenting on today's announcement, Connie Mixon, CEO, said:
"We are delighted to formalise Mark's appointment as CFO and Treasurer and to welcome him to the Board. We are also pleased to welcome Nick as Business Development Director to assist the Company's future growth in both Europe and Asia."
Enquiries
MyCelx Technologies Corporation +1 888 306 6843
Connie Mixon - CEO
Mark Clark - CFO
Numis Securities Limited +44 207 260 1000
Corporate Finance/Nominated Adviser
Alastair Stratton
Stuart Skinner
Corporate Broking
James Black
Ben Stoop
Pelham Bell Pottinger +44 207 861 3232
Mark Antelme
Nick Lambert
Notes for Editors
MyCelx Technologies Corporation is a clean water technology company that provides novel water treatment solutions to the oil and gas, power, marine and heavy manufacturing sectors
MyCelx invented and is the owner of the MyCelx polymer which is infused in the consumable media contained in equipment supplied by the Company
The technology produces treatment results that compare favourably to existing competition in effectiveness, cost and footprint. The MyCelx polymer and its use are protected by patents and other intellectual property rights
The defining difference of the MyCelx polymer as compared with alternative technologies currently available is that it is capable of permanently and reliably removing free, emulsified and dissolved hydrocarbons from water upon contact to levels between 0-10 parts per million (ppm) at any flow rate
MyCelx equipment has been installed successfully at the facilities of leading industry operators around the globe. The focus of the Company is now directed at the commercial application of MyCelx solutions in both upstream and downstream markets in the oil and gas industry
Over the last three years, the Company has sold its products primarily in North America, Asia, Australia, Middle East and Europe. Customers include such oil and gas companies as Chevron, BP, Anadarko Petroleum Corporation, SABIC, engineering, procurement and construction companies such as Mustang Engineering and global water treatment companies
Further information on MyCelx Technologies Corporation can be found at www.mycelx.com