19 Feb 2009 07:00
| For Immediate Release | 19th February 2009 |
PLETHORA SOLUTIONS HOLDINGS PLC
Board Change
Plethora Solutions Holdings PLC ("Plethora" or "The Company", AIM:PLE), the specialist developer of products for the treatment and management of urological disorders, announces a change to its Board of Directors.
David Ellam is to step down as Chief Financial Officer. He will be succeeded by Ronald Openshaw who will act as Interim Finance Director following a handover period with David Ellam after which David will leave the Company. Although not joining the Board, Ronald Openshaw will be advising the Board with the next stages of its licensing and corporate development strategy.
David Ellam joined Plethora Solutions as Chief Financial Officer in 2008 and played a role in closing a series of financings which have now been completed despite the challenges of the current economic climate.
Ronald Openshaw, 42, has a significant track record in the life sciences and healthcare sector both in executive management and in an advisory role. He is the founder of the M&A and strategic consulting firm Lucia Capital LLP and previously he spent many years as an investment banker at Panmure Gordon & Co. Limited (latterly WestLB Panmure Limited) and then most recently Jefferies International Limited. He also served as CFO and acting CEO at Pharmagene plc until its merger with Asterand plc in 2006, where he remained as CFO to complete the integration in early 2007. Ronald qualified as a Chartered Accountant with KPMG.
Stuart Wallis, Chairman of Plethora, commented:
"I would like to thank David for his contribution to Plethora during a challenging time in the Life Sciences sector and wish him well for the future."
"We welcome Ronald to the Plethora team. His financial and corporate experience will be valuable as we continue to pursue a variety of licensing and strategic transactions."
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Enquiries:
| Plethora Solutions Steven Powell | Tel : +44(0) 20 3077 5400 |
| FinnCap Geoff Nash | Tel: +44(0) 20 7600 1658 |
| Hansard Group Adam Reynolds/John Bick | Tel: +44(0) 20 7245 1100 |
About Plethora:
Plethora is focused on the development and marketing of products for the treatment of urological disorders. The Company has products in clinical development for the treatment of overactive bladder, stress urinary incontinence, interstitial cystitis, gynaecological pain, erectile dysfunction and premature ejaculation. In January 2006, Plethora acquired Minneapolis (Mn) based Timm Medical Technologies Inc., which markets products for the treatment of erectile dysfunction (ED) to urology clinics through a US-based specialty sales team. The Company is headquartered in the UK and is listed on the London Stock Exchange (AIM:PLE)
Further information is available at www.plethorasolutions.co.uk