Last checked at 16 Mar 2010 12:25
16 March 2010
SCIENTIFIC DIGITAL IMAGING PLC
("SDI", "the Company" or "the Group")
Directorate Changes
SDI is pleased to announce the appointment of Dr Ann Simon and Ken Ford to its Board as non-executive Directors with immediate effect.
Ann Simon has worked in finance, particularly in the healthcare and technology sectors, since 1985. She is presently Chief Financial Officer of Sphere Medical Holding plc. Over the last decade she has been CFO of Genosis plc, Mirada Solutions, NextGen Sciences, e-San and Bioglan Pharma. She has managed IPOs (London full list and AIM), corporate acquisitions and trade sales and fund raisings in the public and private markets. Prior to that she undertook corporate finance advisory work at Cazenove & Co. over a period of more than ten years for clients ranging from start-ups to FTSE100 companies. She was on the FSA's Financial Information Theme Team from 2002 to 2003. Dr Simon will serve as chairman of the Audit Committee.
Ken Ford was previously Chief Executive of Teather & Greenwood the investment bank, becoming Deputy Chairman and Chairman of Corporate Finance in 2004, and brings over 36 years City experience to the Company, including a strong understanding of shareholder value, strategic planning and corporate transactions. Mr Ford was Chairman of the UK Society of Investment Analysts between 1985 - 1987, is a former Chairman of the Quoted Company's Alliance (QCA) and a former member of the EU Advisory Committee to the Corporation of London. Ken's previous directorships include Aberdeen Asset Management, Morgan Grenfell and Wedd Durlacher. Ken is currently a director at AIM-listed companies BrainJuicer Group and Highams Systems Services Group.
As previously announced, Mr. Alf Vaisey will retire from the Board at the end of March.
Harry Tee CBE, Chairman of SDI, commented:
"I am delighted to be able to announce the appointment of two such capable individuals to the Board. I'm sure they will make a great contribution to the furtherance of the Group's strategy."
Other disclosable information
Ann Juliet Bateman Simon, aged 56, is or has been a director of the following companies during the last five years:
| Current directorships | Past directorships |
| Sphere Medical Holding plc | Endace Europe Limited |
| Sphere Medical Limited | e-San Limited |
| The Mirada Shareholder Representative Company Limited | e-San Holdings Limited |
|
| Genosis PLC |
|
| Genosis (UK) Limited |
Dr Simon resigned as a director of Bioglan Laboratories Ltd on 14 February 2001 and as a director of Bioglan Pharma Plc and Bioglan (Holdings) Ltd on 1 November 2001. Receivers were appointed in respect of Bioglan Laboratories Ltd, administrators were appointed in respect of Bioglan Pharma Plc and administrators were appointed in respect of Bioglan (Holdings) Ltd all on 21 February 2002. On 27 February 2003, the joint liquidators stated in a letter to creditors of Bioglan Pharma Plc and Bioglan (Holdings) Ltd that the indebtedness due to the secured creditors of those companies was in excess of £113 million and that they anticipated a shortfall of £75 million to those creditors. The joint liquidators also stated at that time that due to the shortfall to the secured creditors there would not be sufficient funds for a dividend to unsecured creditors and consequently that there would be no return to shareholders.
There are no further disclosures to be made regarding this appointment under Schedule 2 paragraph (g) of the AIM rules.
Eric Kenelm Ford, (Ken Ford), aged 60, is or has been a director of the following companies during the last five years:
| Current directorships | Past directorships |
| Brainjuicer Limited | Atlantic Coal plc |
| BrainJuicer Group plc | Camomile Wood Nominees Limited |
| Flying Kiwi Inns Limited | Escalon Investments Limited |
| Highams Systems Services Group plc | Flying Kiwi (Holdings) limited |
| Lewis Communications Limited | Landsbanki Securities (UK) Holdings plc |
| Lewis Communications (Holdings) Limited | Teather and Greenwood Nominees Limited |
| Mintonview Limited | Teathers limited |
| Principal Residential Properties Limited | Teawood Nominees Limited |
| 7Safe Limited |
|
By Board Notice 431 dated 16 July 1997 the Securities and Futures Authority ("SFA") gave notice that disciplinary proceedings brought against Teather & Greenwood Limited Partnership (of which Mr Ford was a partner) and Mr Ford relating to breaches of the Securities and Investment Board Principles 2 and 9 had been concluded by Settlement with the following outcome:
a) Teather & Greenwood Limited Partnership was reprimanded, fined £50,000 and agreed to pay a contribution of £10,000 towards SFA's costs; and
b) Mr Ford was reprimanded, fined £8,000 and agreed to pay a contribution of £2,000 towards SFA's costs.
SFA took into account that Teather & Greenwood Limited Partnership had previously conducted a full internal review of its compliance procedures and had implemented a remedial action plan. SFA also took into account that neither Teather & Greenwood Partnership nor Mr Ford has previously been the subject of disciplinary action, both cooperated with SFA and no clients had been disadvantaged. Mr Ford was also reprimanded by the Securities Institute as a result.
There are no further disclosures to be made regarding this appointment under Schedule 2 paragraph (g) of the AIM rules.
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FOR FURTHER INFORMATION
Scientific Digital Imaging plc 01223 727144
Harry Tee CBE, Chairman
Phil Atkin, CEO
www.scientificdigitalimaging.com
Grant Thornton Corporate Finance (Nominated Advisor) 020 7383 5100
Philip Secrett
Colin Aaronson
Astaire Securities plc 020 7448 4400
Katie Shelton
Bishopsgate Communications 020 7562 3350
Will Tindall
Gemma O'Hara
sdi@bishopsgatecommunications.com