Last checked at 9 Nov 2022 07:00
For release: 9 November 2022
NetScientific plc
("NetScientific" or "NSCI" or the "Company" or the "Group")
Board Change
London, UK - 9 November 2022: NetScientific Plc (AIM: NSCI), the active international holding company, which invests in, develops, and commercialises life sciences/healthcare, sustainability, and technology companies, today announces that John Clarkson is relinquishing his executive status and becoming Non-Executive Chairman of the Company with immediate effect.
John joined the NetScientific Board in December 2019, was appointed as Non-Executive Chairman in March 2020, and stepped into the role of Executive Chairman in December 2020. During this three year period, the Company has made substantial progress with the turnaround of the business and implementation of its growth strategy to deliver shareholder value, with proactive commercial management, a capital light investment model, trans-Atlantic development, and expansion of the portfolio from 8 to 23 companies.
John has indicated his wish to step down from the NetScientific Board during the first quarter of 2023 and has agreed to remain in the role of Non-Executive Chairman of the Company whilst the Company concludes its search for the appointment of a new Chair. It has also been agreed that John will, until 31 December 2023, provide various consultancy and advisory services to Group companies for an aggregate remuneration that is within his contractual entitlement to payment in lieu of notice.
The Nomination Committee has initiated a search for a new Chair and an announcement will be made in due course.
In the meantime, the Board thanks John for his commitment and support in his capacity as Executive Chairman and looks forward to continuing to work with him in his new role.
The person responsible for arranging the release of this announcement on behalf of the Company is Ilian Iliev, Chief Executive of the Company.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
For more information, please contact:
NetScientific
Ilian Iliev, CEO Via Belvedere Communications
WH Ireland (NOMAD, Financial Adviser and Broker)
Chris Fielding / Darshan Patel / Enzo Aliaj +44 (0)20 7220 1666
Belvedere Communications
John West / Llew Angus +44 (0) 203 008 6867
Email: nsci@belvederepr.com
About NetScientific
NetScientific Plc ("NSCI") is an active holding Company that proactively invests in a global portfolio of companies across the healthcare, life science, ESG, and deep technology sectors.
NetScientific delivers shareholder returns through a proactive and hands-on management approach to its portfolio companies; identifying, investing in, and helping to build game-changing companies. The Group targets value inflection points and the release of value through partial or full exits from trade sales, public listings, or equity sales. The Company has a strong Trans-Atlantic and growing international presence, providing attractive expansion prospects.
The Company differentiates itself by employing a capital-light investment approach, making use of its wholly owned subsidiary, EMV Capital's network of private, corporate, and institutional investors. By syndicating investment and making minimal use of its balance sheet, the Company is able to secure direct stakes, as well as carried interest stakes, in its portfolio. This ultimately creates a structure that can support a large portfolio with a limited balance sheet.
NetScientific is headquartered in London, United Kingdom, and was admitted to trading on AIM, a market operated by the London Stock Exchange, in 2013.
www.netscientific.net