Last checked at 1 Feb 2023 07:00
Strictly embargoed until: 07.00, 1 February 2023
NetScientific plc
("NetScientific" or the "Company")
Board Change
London, UK: NetScientific plc (AIM: NSCI), the investment and commercialisation group with an international portfolio of innovative life science, sustainability, and technology companies today announces that, further to the Company's previous announcement on 9 November 2022, John Clarkson has stepped down as Chairman of the Company, and resigned from the Board with immediate effect.
Jonathan Robinson, Non-Executive Director of the Company will now become Interim Non-Executive Chairman while the Company completes its recruitment process to appoint a new Chairman.
Dr Ilian Iliev, Chief Executive Officer of the Company commented:
"John has been with NetScientific in various senior Board roles since December 2019. His excellent counsel, hard work, and professional oversight have contributed greatly to the Company's successful turnaround, placing the business on a path to growth. He was also instrumental as an architect of the turnaround strategy, and supported the executive team in its implementation. The Board wishes to thank John for his guidance and support and wishes him every success for the future. We also look forward to continuing to work with him in an advisory role both in the group and in various portfolio companies.
"Our search for a new Non-Executive Chairman is continuing well. The Nomination Committee has already received several applications from well qualified candidates, and interviews will be taking place shortly. We look forward to concluding the process soon and updating the market at the appropriate time. In the meantime, we are grateful to Jonathan Robinson, who is an experienced company director and will act as Interim Chairman until the search process is complete."
-Ends-
The person responsible for arranging the release of this announcement on behalf of the Company is Ilian Iliev, Chief Executive Officer 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 (AIM: NSCI) is an investment and commercialisation group with an international portfolio of innovative life science, sustainability and technology companies.
NetScientific identifies, invests in, and builds high growth companies in the UK and internationally. The company adds value through the proactive management of its portfolio, progressing to key value inflection points, and delivering investment returns through partial or full liquidity events.
NetScientific differentiates itself by employing a capital-light investment approach, making judicial use of its balance sheet and syndicating investments through its wholly owned VC subsidiary, EMV Capital. The group secures a mixture of direct equity stakes and carried interest stakes in its portfolio of companies, creating a lean structure that can support a large portfolio.
NetScientific is headquartered in London, United Kingdom, and is admitted to trading on AIM, a market operated by the London Stock Exchange.
www.netscientific.net