Nanosynth Group PLC Appointment of CEO and other board changes (3054K)
September 01 2021 - 2:00AM
UK Regulatory
TIDMNNN
RNS Number : 3054K
Nanosynth Group PLC
01 September 2021
1 September 2021
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service ('RIS'), this inside is now considered to be in
the public domain.
nanosynth group plc
("nanosynth" the "Company" or the "Group")
Appointment of CEO and other board changes
The Board of nanosynth is pleased to announce the appointment of
Mr. Mark Duffin as Chief Executive Officer of nanosynth, effective
immediately.
Mr. Duffin is a qualified engineer with a multi-disciplinary
background established over 20 years, including as CEO and board
member of various companies in the technology, business services,
industrial, manufacturing and consultancy sectors. His experience
includes start-up companies, mergers and acquisitions and
turnaround propositions.
Mr. Duffin is currently CEO and founder of Angel Share Capital
Ltd and prior to that, was CEO of ServicePower Technologies plc
(previously AIM listed) where he was responsible for executing a
turnaround strategy for the company, resulting in a profit for the
first time in fourteen years. Mr. Duffin holds an MBA and a BEng
Hons.
With this appointment, and as previously envisaged, Antony Legge
will revert to his previous role of non-executive Chairman of the
Company. Dr Cave's move from a non-executive director to an
executive director, taking the role of the Group's Chief Scientific
Officer, remains subject to contract and a further announcement
will be made once finalised.
Antony Legge, Chairman of nanosynth, said:
"I am delighted that a CEO of Mark's calibre has agreed to join
the Company. His track record in creating shareholder value brings
confidence that, together, we can continue to build nanosynth into
a major player in the nanotech space."
Mark Duffin, Chief Executive, said:
"I am excited to be joining the Board as CEO of nanosynth and am
looking forward to working with Antony and the wider team as we
work towards growing the Company for the benefit of our
stakeholders. "
As part of his remuneration package Mr. Duffin will be granted
share options over 5% of the Company's current share capital in
accordance with the Company's EMI Share Scheme approved by
shareholders at the Company's recent Annual General Meeting.
These options vest on the third anniversary from grant and are
exercisable up until the 7(th) anniversary of grant.
The options are exercisable in various tranches at prices
varying from 1.00p to 4.00p and are subject to various additional
conditions including the requirement for the Company's 20 day
volume weighted average share price to exceed the exercise price
within certain timeframes. Further detail on the share options is
set out below:
% of Issued Number of Exercise Additional Exercise Expiry Date
Share Capital Options Price per Vesting Conditions Conditions
Option
7 years
0.50% 10,395,360 1.00p None None from today
----------- ----------- -------------------- ------------------ ------------
The 20 VWAP
for the share The option
price exceeding cannot be
the Exercise exercise
Price at any in the 6
time prior to months following 7 years
1.00% 20,790,720 1.25p 30 June 2022 vesting from today
----------- ----------- -------------------- ------------------ ------------
The 20 VWAP
for the share The option
price exceeding cannot be
the Exercise exercise
Price at any in the 6
time prior to months following 7 years
2.50% 51,976,800 2.50p 30 June 2023 vesting from today
----------- ----------- -------------------- ------------------ ------------
The 20 VWAP
for the share
price exceeding The option
the Exercise cannot be
Price at any exercise
time prior to in the 6
31 December months following 7 years
1.00% 20,790,720 4.00p 2023 vesting from today
----------- ----------- -------------------- ------------------ ------------
The following information is disclosed pursuant to Rule 17 and
Schedule Two paragraph (g) of the AIM Rules for Companies in
relation to Mark Duffin, aged 54:
Current directorships and/or Former directorships and/or partnerships
partnerships: (within the last five years):
Angel Share Capital Ltd Clipeus Ltd
Angel Share Data Limited Sounding Board Ideas Ltd
V-Tech Renewables Ltd
Digital Breadcrumbs Ltd
Verde Tech Group Limited
Prime Advantage Investors Ltd
Prime Advantage Ltd
Upwind Shipping Holdings Ltd
Upwinds Shipping Holdings Ltd
-----------------------------------------
There are no further disclosures required under Schedule 2(g) of
the AIM Rules for Companies.
- ENDS -
ENQUIRIES :
Remote Monitored Systems plc +44 77 6355 5919
Antony Legge (Chairman)
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and Joint Broker
Stuart Gledhill
Caroline Rowe
Peterhouse Capital Limited +44 20 7469 0930
Joint Broker
Lucy Williams
IFC Advisory Ltd +44 20 3934 6630
Graham Herring
Zach Cohen
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END
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