RENE.L Regulatory News (RENE)

ReNeuron Group plc

("ReNeuron" or the "Company")

Changes to non-executive Board

ReNeuron Group plc (AIM: RENE), a global leader in the development of cell-based therapeutics, is pleased to announce changes to the non-executive membership of the Board as indicated in the Company's preliminary results statement issued on 20 July 2020.

In the statement, the Company confirmed that it intended to reduce the number of non-executive directors from six to four and that, in recognition of its significant shareholding and ongoing support for the Company, it had approved in principle a request from Obotritia Capital KGaA ("Obotritia") to nominate a non-executive director to the Board.

John Berriman and Simon Cartmell OBE (having served for nine years and thereby having become non-independent under the QCA code of corporate governance) have expressed their intention not to seek re-election at the forthcoming Annual General Meeting of the Company and they and Dr Claudia D'Augusta will retire with effect from the close of that meeting.

Dr Tim Corn, an existing non-executive director of the Company, will become Chairman of the Board and will also chair the Company's Remuneration Committee. Professor Sir Chris Evans OBE will chair the Nominations & Corporate Governance Committee.

Mark Evans, the chairman of Obotritia, will be appointed as a non-independent non-executive director of the Company and will chair the Audit Committee. Mark, a chemistry graduate from the University of Bristol, began his career as a graduate trainee at Morgan Grenfell, a British merchant bank. He then worked in emerging markets at ING Bank and Montpelier Asset Management before joining THS Partners in 1998 to manage global equity portfolios. He followed a number of areas at THS, including property, fixed interest and healthcare. He also chaired the risk management committee and was the finance partner. THS was sold to GAM in 2016. Mark and two colleagues started a new firm, Partners Investment Company LLP, to focus on small and midcap European equities. Mark is also a partner of Albemarle Life Sciences LLP, a small specialist healthcare investment partnership.

The above changes, which achieve the planned reconfiguration of the non-executive membership of the Board of the Company, will be effective from the conclusion of the Annual General Meeting of the Company on 10 September 2020. In addition, the Company will, at that time, enter into a relationship agreement with Obotritia and Partners Investment Capital to ensure that the Company is capable of carrying on its business independently at all times.

Olav Hellebø, Chief Executive Officer of ReNeuron, commented: 

"We are delighted to welcome Mark Evans to the Board and, on behalf of the Board and management of the Company, I would like to thank John Berriman, Simon Cartmell and Claudia D'Augusta for their many years' combined service on the Board. We wish them well. The reconfigured Board of ReNeuron has the expertise and experience necessary to support the Company's new emphasis on retinal diseases and commercial partnerships."

Disclosures in accordance with the AIM Rules

Mr Mark Evans, 56, is, or has been, a director or partner of the following companies or partnerships during the past five years:

Current Partnerships and Directorships:

Partners Investment Company LLP

Partners Investment Company (2017) Limited

Albemarle Ship Investments LLP

Albemarle Life Sciences LLP

Obotritia Capital KGaA (Chairman)

MEV Ventures Ltd

Eva Mars Partners LLP

Roundwood Partners LLP

Taube Hodson Stonex Partners LLP

Taube Hodson Stonex Partners (UK) Ltd

Elgeti Grundbesitz Caprice KG

Clifton Scientific Trust Limited

THSP Limited *

* THSP Limited is currently undertaking a Members' Voluntary Liquidation.

Prior Partnerships & Directorships:

Rolf Elgeti + Co Invest KG

GAM Unit Trust Management Company Ltd

PIC Shipping LLP

Mark Evans has a 0.14% direct interest in the Company's shares and a 1.71% indirect interest in the Company's shares through Partners Investment Company LLP and Albemarle Life Sciences LLP. Obotritia has a holding of 15.62% in the Company's shares. However, Mark Evans does not control investment decisions for Obotritia.

There are no further disclosures required in accordance with AIM Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.

ENDS

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About ReNeuron

ReNeuron is a global leader in cell-based therapeutics, harnessing its unique stem cell technologies to develop 'off the shelf' stem cell treatments, without the need for immunosuppressive drugs. The Company's clinical-stage candidates are in development for the blindness-causing disease, retinitis pigmentosa, and for disability as a result of stroke.

ReNeuron is also advancing its proprietary exosome technology platform as a potential delivery system for drugs that treat diseases of the brain. The Company also has the ability through its conditionally immortalised induced pluripotent stem cell (iPSC) platform to make any tissue cells of choice; in-house programmes are focused on treatments for blood cancers and diabetes. ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. For further information visit www.reneuron.com.