Kromek Group PLC Directorate Changes (1883J)
December 16 2015 - 1:00AM
UK Regulatory
TIDMKMK
RNS Number : 1883J
Kromek Group PLC
16 December 2015
16 December 2015
Kromek Group plc
("Kromek" or the "Company")
Directorate Changes
Kromek, a radiation detection technology company focusing on the
medical, security and nuclear markets, announces that the following
Non-Executive Directors have agreed to step down with immediate
effect:
1) Prof Max Robinson
2) Prof Brian Tanner
3) Ms. Charlotta Ginman
4) Mr. Peter Bains
Professor Max Robinson and Professor Brian Tanner will be the
founding members of the Science Advisory Committee starting in
early 2016 and continue to advise the Company in that capacity.
The reduction in the size of the Board reflects a major step in
the Company's objective of creating a more efficient, lean and
focussed Board, which is best equipped to move the Company forward
into the next stage of its development. As at today's date, the
composition of the Board is as follows:
Sir Peter Williams Chairman
Arnab Basu Chief Executive Officer
Derek Bulmer Chief Financial Officer
Lawrence Kinet Non-Executive Director
Dr Graeme Speirs Non-Executive Director
Jerel Whittingham Non-Executive Director
Sir Peter Williams has been appointed Chair of the Audit
Committee and Jerel Whittingham will continue as Chair of the
Remuneration Committee. Lawrence Kinet will continue in his role as
Senior Independent Non-Executive Director.
Sir Peter Williams, Chairman of Kromek, said: "Kromek is
entering a new chapter in its development and the Board changes
reflect this. We thank Max Robinson and Brian Tanner for their 12
years of support and look forward to their continuing guidance as
members of our Science Advisory Committee. The Board would also
like to thank Charlotta Ginman and Peter Baines for the wise
counsel and sage guidance they have provided and we offer them our
best wishes for the future."
Enquiries
Kromek Group plc 01740 626 060
Arnab Basu, CEO
Derek Bulmer, CFO
Cenkos Securities plc 0207 397 8900
Bobbie Hilliam (NOMAD)
Julian Morse (Sales)
Luther Pendragon 0207 618 9100
Harry Chathli, Claire Norbury,
Alexis Gore
About Kromek Group plc
Kromek Group plc is a UK technology company (global HQ in County
Durham) and a leading developer of high performance radiation
detection products based on cadmium zinc telluride ("CZT"). Using
its core CZT technology, Kromek designs, develops and produces
x-ray and gamma ray imaging and radiation detection products for
the medical, security screening and nuclear markets.
The Group's products provide high resolution information on
material composition and structure and are used in multiple
applications, ranging from the identification of cancerous tissues
to hazardous materials, such as explosives, and the analysis of
radioactive materials.
Kromek uses multiple technologies in its manufacturing
processes, including the established methods of 'liquid phase'
detector production, and also 'vapour phase' production methods,
which allow the production of high quality, high performance
detectors on an industrial scale. Kromek has an intellectual
property portfolio of more than 250 pieces of IP.
The Group's business model provides a vertically integrated
technology offering to customers, from the growth of CZT crystals
to finished products or detectors, including software, electronics
and application specific integrated circuits ("ASICs").
The Board believes that the vertical integration offered by
Kromek, combined with the benefit of 25 years of research into CZT
production and the patents and trade secrets accumulated by the
Group, are unparalleled in the market place.
The Group has operations in the UK, Germany and the US
(California and Pennsylvania), and is selling internationally
through a combination of distributors and direct OEM sales.
Currently, the Group has over a hundred full-time employees
across its global operations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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