Valereum PLC Appointment of New Directors (5493R)
October 27 2023 - 3:05AM
UK Regulatory
TIDMVLRM
RNS Number : 5493R
Valereum PLC
27 October 2023
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ("MAR")
27 October 2023
Valereum Plc
("Valereum" or the "Company")
Appointment of New Directors
Valereum Plc (AQSE: VLRM), the Gibraltar based technology group,
is pleased to announce further appointments to the board.
Patrick Lyle Young has re-joined the Company's board of
directors with immediate effect. Formerly serving as an Executive
Director, Mr Young will take the position of Chief Executive
Officer as the company restructures and discerns a path
forward.
Patrick Lyle Young stated "I welcome the opportunity to return
to Valereum and thank James Formolli for the invitation to rejoin
the Company. I wish to acknowledge the incredible outpouring of
shareholder support this week which has been truly overwhelming.
Now we must concentrate on rebuilding and driving forward
shareholder value with a new strategy which delivers a "win-win"
for our home territory of Gibraltar as well as for all
stakeholders."
James Formolli said "The value and experience that Patrick
brings to Valereum is clear and I had no hesitation in
re-appointing Patrick in his new role as Chief Executive
Officer."
Patrick Lyle Young is currently a director of Project Vistula Sp
z o.o., DV Advisors Ltd, Revolution Market Capital Ltd and ECA Ltd.
There are no former directorships and/or partnerships (within the
last five years) to disclose. As noted above, Patrick was on the
board of Valereum PLC from July 2021 to earlier this month. Patrick
has no interest in the issued share capital of the Company. Except
as set out above, there is no further information regarding Patrick
L. Young, that is required to be disclosed pursuant to Rule 4.9 of
the AQSE Growth Market Access Rulebook.
Additionally, Valereum is pleased to announce that Peter Sekhon
will also join the board as an Executive Director with immediate
effect and will be focusing on improving investor relations with
the diverse and highly supportive shareholder base of the Company.
James Formolli is pleased to appoint Peter Sekhon to Valereum as
Investor Relations Director. Peter Sekhon has extensive experience
at Lloyds Banking Group, participating in investment operations
management. His expertise extends to risk assessment, stakeholder
engagement, and compliance across a range of financial and business
initiatives. He has also been responsible for the delivery of a
wide number of transformation and migration projects within the
Financial Services sector. His expertise extends to managing
large-scale strategic projects, encompassing significant regulatory
changes and multiple customer initiatives.
Peter Sekhon is currently the director of PS Consulting
Solutions Ltd. There are no former directorships and/or
partnerships (within the last five years) and no further
information regarding Peter Sekhon, that is required to be
disclosed pursuant to Rule 4.9 of the AQSE Growth Market Access
Rulebook.
Furthermore, at the request of James Formolli, Gary Cottle has
agreed to take up the position of advisor to the company. Gary
Cottle, an experienced financial services professional with over 30
years of experience has built and managed several global capital
markets businesses. In his last position he managed a range of 3rd
party exchange investments for Nomura and he will play a key role
as we re-focus the business.
Valereum is also pleased to announce that Alan Gravett has
agreed to remain in his current role as a Non-Executive Director
and will not be resigning.
The Directors of the Company accept responsibility for the
contents of this announcement.
For more information, please visit the Company's website at
valereum.gi
Enquiries:
Valereum Plc
James Formolli, Chairman +971 4584 6284
AQSE Corporate Adviser
First Sentinel Corporate
Finance
Brian Stockbridge +44 (0)20 3855 5551
---------------------------------
Investor Relations +44 (0)7803 603130
Soho Communications Ltd george@sohocommunications.co.uk
George Hudson
---------------------------------
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END
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