Byotrol PLC Board changes and issue of options (6565V)
February 01 2017 - 1:00AM
UK Regulatory
TIDMBYOT
RNS Number : 6565V
Byotrol PLC
01 February 2017
1 February 2017
Byotrol plc
("Byotrol" or the "Company")
Board changes and issue of options
Byotrol plc, the specialist anti-microbial technology company,
is pleased to announce that John Langlands has been appointed as
Chairman with effect from today's date and that Nicholas Martel has
stepped down as Chairman and as a Director, also with effect today.
Nicholas will remain with the Company for a further three months to
ensure an orderly hand-over.
John Langlands has considerable business, commercial and City
experience having worked for a number of listed companies. He has
been CEO since 2003 of British Polythene Industries Plc, a leading
European producer of polythene films for packaging and agriculture.
BPI was sold to RPC GROUP Plc in August 2016 and John left BPI at
the end of January 2017 following the successful integration of BPI
into RPC.
Mr. Langlands is also being awarded options over 2,700,000
ordinary shares of 0.25p each ("Options" and "Ordinary Shares") as
part of the Company's Unapproved Share Option Scheme (the "Award").
The Options have an exercise price of 4.125p, being the closing
mid-market share price on 31 January 2017, vest immediately and
expire on 14 October 2021. Following the Award there are now
33,757,500 options over Ordinary Shares representing 12.59 per
cent. of the existing issued share capital of the Company.
Mr Langlands holds 300,000 ordinary shares in Byotrol,
representing 0.1% of the Company's issued share capital.
Nicholas Martel comments:
"After three enjoyable years as Chairman, I look forward to
resuming my previous role of supportive shareholder. I am delighted
that John has been appointed as my successor and that he will be
leading the next phase of Byotrol as we commercialise our new
technologies. With a strong team in place and with the recent
progress on our three key projects, Byotrol is well positioned for
further growth. John knows Byotrol well already and brings a wealth
of relevant business experience across many countries and
industries."
David Traynor, Chief Executive, comments:
"We are very grateful to Nicholas for his calm and steady
oversight of Byotrol over four years as a NED, three of which as
Chairman. We will all miss his insight and support.
The Byotrol team is very much looking forward to working with
John. He has first-class industry expertise, City experience and
all-round business acumen, including in M&A. We are really
pleased to welcome him to our Board."
The following further details are given in accordance with Rule
17 and Schedule 2 (g) of the AIM Rules for Companies:
John Thomson Langlands (age 64)
Current directorships or partnerships: Maven Capital (Telfer
House) LLP
Previous directorships or partnerships in the past 5 years:
British Polythene Industries Limited (formerly British Polythene
Industries PLC)
British Polythene Limited
BPI Limited
Scott and Robertson Limited
BPI Employees trust Limited
Flexfilm Limited
Jordan Plastics Limited
There are no other disclosures required in relation to Rule 17
or paragraph (g) of Schedule 2 of the AIM Rules for Companies.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Enquiries:
Byotrol plc 01925 742 000
David Traynor - Chief Executive
finnCap Ltd 020 7220 0500
(Nominated Adviser & Broker)
Geoff Nash/Carl Holmes/James
Thompson - Corporate Finance
Mia Gardner - Corporate Broking
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a specialist in
developing, formulating and commercialising cutting-edge
antimicrobial technologies.
Our patented suite of technologies delivers powerful
broad-spectrum efficacy with residual performance optimised against
commonly occurring and industry-specific pathogens.
Founded in 2005, the Company has developed the technology that
creates easier, safer and cleaner lives. For more information,
please go to www.byotrol.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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