Modern Water PLC Appointment of Director (9108E)
March 04 2020 - 1:00AM
UK Regulatory
TIDMMWG
RNS Number : 9108E
Modern Water PLC
04 March 2020
AIM share code: MWG
4 March 2020
Modern Water plc
("Modern Water" or "Company")
Appointment of Director
Further to the Company's announcement on 20 February 2020, the
Company is pleased to confirm the appointment of
Gerard James Brandon to the Board of Modern Water as Chairman.
Simon Humphrey, Chief Executive Officer, commented:
"I am delighted to welcome Gerry to the Board of the Company. He
brings dynamic company restructuring, global network and commercial
focused credentials, with experience realising underexploited
value, adding new routes to market through revenue share
collaboration agreements in scientific and engineering businesses
using digital analytics and artificial intelligence. Gerry's
extensive management background, proven hands-on operational
expertise, and experience of integrating businesses, positions him
well to provide the Board with the leadership necessary to support
and direct executive management, helping to deliver on the new
business model strategy that will drive Modern Water to
profitability."
Board appointment
The appointment of Gerard James Brandon as Non-Executive
Director of the Company is for an initial period of 12 months, and
thereafter is terminable by either party on not less than 3 months'
written notice. The Director's fee is GBP50,000 per annum but will
not be settled in cash. Instead, the Director will have his accrued
fee settled by the allotment to him of New Ordinary Shares, which
will be issued at the Placing Price of 0.5p per New Ordinary Share
for the first two years of his appointment.
Gerard James Brandon (Age: 58 )
Gerard Brandon is Chief Executive Officer of both Integumen plc
and Cellulac plc. In 1996 he became founder and CEO of Alltracel
Pharmaceuticals PLC, where he built a team that oversaw numerous
patents granted on refined cellulose. Alltracel Pharmaceuticals PLC
was admitted to trading on AIM in 2001. In 2004, he was appointed
as a Managing Partner for Farmabrand Private Equity. In 2009, he
was appointed as an Executive Consultant to Eplixo Limited. He is a
Fellow of the Ryan Academy of Entrepreneurs in Dublin.
Gerard James Brandon is interested in 10 million ordinary
shares, representing 1.99% of the Company's issued share
capital.
Pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for
Companies, the following information is disclosed in respect of
Gerard James Brandon :
Current and Past Directorships and Partnerships within the last
5 years
Current Past
Cellulac Plc Visible Youth Limited
Cellulac Trading Limited VY Club Limited
Innovenn UK Limited
Integumen Plc
Lifesciencehub UK Limited
Pursuit Marine Drive Limited
Rinocloud Limited
Save for the information above, there are no further disclosures
to be made in accordance with Rule 17, Schedule 2(g) of the AIM
Rules for Companies in respect of the appointment Gerard James
Brandon .
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information:
Modern Water plc Simon Humphrey , CEO +44 (0)20 3827 3439
Sandy Jamieson / Tony
Cairn Financial Advisers Rawlinson
LLP (Nominated Adviser) Ludovico Lazzaretti +44 (0)20 7213 0880
Turner Pope Investments +44 (0) 20 3621
(TPI) Limited (Broker) Andy Thacker / Zoe Alexander 4120
About Modern Water
Modern Water was established in 2006 to develop and
commercialise water recovery technologies to counter water crisis
problems arising from climate change and a growing global
population. Having invested GBP20m over the last 14 years, the
results comprise a robust patent portfolio of cutting-edge
technology, focused on monitoring of contaminated water and
decontamination of wastewater, making recycling of water more
efficient. Six countries across the world have legislated that
Modern Water monitoring test systems are written into their
environmental protection legislation.
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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