Provexis Regulatory News (PXS)

24 Jul 2006 07:03

Provexis PLC24 July 2006 PROVEXIS PLC ("Provexis" or the "Company") Directorate Change Provexis plc, the nutraceutical company that develops scientifically-provenfunctional and medical foods, today announces that Dr Stephen Franklin isstepping down with immediate effect from his role as Chief Executive Officer,and will not be seeking re-election to the Board at the Company's forthcomingAnnual General Meeting. Dr Franklin will continue to work with the Company untilearly 2007 as Acting Director of Research. In this capacity he will complementthe Company's research and development team progressing late phase developmentof the Company's proprietary technologies. The Company announces that StephenMoon has been appointed as Chief Executive Officer with immediate effect.Stephen Moon, formerly Commercial Director of Provexis, has been with theCompany since February 2003. Stephen Moon has been central to the strategic development of the Company. Hehas been responsible for identifying and implementing revenue generatingopportunities, in particular pursuing key licensing agreements, and wasinstrumental in the successful launch of the Company's Sirco(TM)product, whichincorporates its patented Fruitflow(TM)technology, into the major UKsupermarkets, Tesco and Waitrose, in February 2006. Prior to joining Provexis,Stephen worked as Strategy Planning and Worldwide Business Development Directorat GlaxoSmithKline's nutritional healthcare division and in manufacturing andsupply chain roles at BP, Dalgety and Quaker. Dawson Buck, Chairman of Provexis plc said: "The Board would like to thank Dr Stephen Franklin for his significantcontribution to the establishment and development of the Company, particularlysince the reverse takeover of Nutrinnovator in June 2005. In addition we arepleased that he will continue to work with the Company in an advisory capacity. "I am delighted that Stephen Moon has accepted the role of Chief Executive. Heis highly regarded in the global nutritional sector and his wealth of experienceand extensive knowledge of the Company will prove invaluable in the next stageof Provexis' development. "As stated at the preliminary results announcement, the Board is pleased withthe progress that the Company has made since its admission to AIM in June 2005.We believe that the Company is well-positioned to continue its growth bycapitalising on global opportunities with potential licensing partners in therapidly growing functional and medical foods market." For further information please contact: Dawson Buck, ChairmanProvexis plc Tel: 07836 777 779 Emma KentBell Pottinger Corporate & Financial Tel: 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange