2 Jun 2008 09:27
PureCircle Limited
('PureCircle' or 'the Company')
Annual General Meeting and Board Appointments
PureCircle, the world leading developer and producer of natural high intensity sweetener ('HIS'), and which listed on AIM in December 2007, today held its first Annual General Meeting
At the Company's Annual General Meeting held today, at which all resolutions were passed, the Chairman, Paul Selway-Swift, gave the following trading update:
"Since our announcement on 1 April 2008 of our results for the year ended 31 December 2007, trading has remained satisfactory with strong growth in both sales and production capacity over the comparable period last year.
"We are pleased to note the increasing interest being shown in the Company's prospects and are delighted to welcome new institutional shareholders on the register."
Separately, the Board is pleased to announce the appointment to the Board, with immediate effect, of Peter Lai Hock Meng as a non-executive Director and Chairman of the Audit Committee and of William Mitchell as an executive Director and Group Finance Director of the Company.
Peter Lai Hock Meng, 52, has more than twenty years experience in financial industry including central banking, investment banking, private banking, stockbroking and venture capital. In that time, he has held a number of senior positions at various blue-chip financial institutions including Deutsche Morgan Grenfell, SocGen-Crosby Securities, Citigroup Private Bank and OCBC Private Bank and is presently Managing Director, Tembusu Partners Pte Ltd, a private equity investment firm in Singapore.
William Mitchell. 47, an FCA who trained with PriceWaterhouse London, brings a wealth of relevant experience to the PureCircle team having worked extensively across the food and beverage as well as technology industries.
William was from 1995 to 1999 first Group Planning Director and then UK Finance Director of Tetley Tea, the world's number-2 global tea brand with a turnover of £450 million and a presence in 14 countries. On leaving Tetley, William was involved in two potential LBOs in the food production sector, firstly a £400 million bid for Hazlewood Foods and a £575 million bid for a part of United Biscuits.
Most recently, William was Finance Director of EnQii Holdings PLC, a global market leader in the fast-growing digital media industry. From 2002, he was CEO of Digital View Group, from whom EnQii acquired the Digital View Media business in March 2007.
No additional disclosures are relevant to the appointment of either Mr Peter Lai Hock Meng or Mr William Mitchell under Schedule Two of the AIM Rules.
2 June 2008
| Enquiries |
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| PureCircle | +44 20 7457 2020 (today) |
| Maga Malsagov, Managing Director |
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| William Mitchell, Finance Director |
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| CollegeHill | +44 20 7457 2020 |
| Mark Garraway |
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| Robert Pugsley |
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| RFC Corporate Finance (Nomad) | +61 8 9480 2500 |
| Stephen Allen |
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