Frontier Smart Technologies Grp Ltd Board Changes (1129H)

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RNS Number : 1129H

Frontier Smart Technologies Grp Ltd

30 July 2019

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

 
 For immediate release   30 July 2019

Frontier Smart Technologies Group Limited

('Frontier' or the 'Company')

Board changes

The boards of Frontier and Science Group PLC ("Science Group") announce that they have reached agreement on the future composition of the Frontier Board to reflect recent changes in the shareholder structure of Frontier.

Martyn Ratcliffe, Chairman of Science Group and Sarah Cole, Company Secretary and Group Legal Counsel of Science Group, will join the Board of Frontier, subject to completion of standard pre-appointment diligence checks by N+1 Singer as Nomad to Frontier and completion of Science Group due diligence. These procedures are anticipated to be completed by Monday 5 August 2019. Martyn Ratcliffe will be appointed Chairman.

Martin Harriman, one of the three current independent Frontier non-executive directors, has stepped down from the Board of Frontier with immediate effect. Sir Hossein Yassaie will retire from the Board to coincide with the new Science Group appointments. Paul Taylor will remain on the Frontier Board as the independent non-executive director until 31 August 2019 to facilitate the transition and commence the process of appointing a suitable independent candidate.

In the interim period, the Frontier Board has agreed not to effect any strategic changes, including any restructuring, without the prior written consent of Science Group.

Ends

Enquiries:

 
                                                  +44 (0) 20 7391 
 Frontier Smart Technologies Group Limited                   0630 
 Sir Hossein Yassaie, Chairman 
 Science Group PLC                            +44 (0) 1223 875200 
 Martyn Ratcliffe, Chairman 
                                                  +44 (0) 20 7496 
 N+1 Singer (Nominated Adviser and Broker)                   3000 
 Sandy Fraser / Lauren Kettle / Ben Farrow

Market Abuse Regulation

The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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