TIDMQP.
RNS Number : 9944M
Quantum Pharma PLC
19 October 2016
19 October 2016
This announcement contains inside information
Quantum Pharma Plc
('Quantum', the 'Group' or the 'Company')
CEO appointment and Board Changes
Quantum Pharma Plc (AIM: QP.), the service-led niche
pharmaceutical developer, manufacturer and supplier to the health
and care sectors, announces the following changes and proposed
changes to its board of directors (the 'Board').
Following a formal search process, and having taken into account
the feedback of a number of Quantum's major shareholders who are
fully supportive of the strategy to simplify and focus the Group,
the Board has today appointed Chris Rigg to the position of Chief
Executive Officer ("CEO") on a permanent basis. Chris was appointed
to the Board as Chief Financial Officer ("CFO") in March 2016 and
has been Acting CEO since 1 August 2016. The Board has commenced a
formal search process for a new CFO but, in the interim, as well as
permanent CEO, Chris will remain as CFO until a replacement for
that role is appointed.
Quantum is also pleased to announce the appointments to the
Board of Ian Johnson as non-executive Chairman; Christopher Mills
as non-executive Director and Dr John Brown as Senior Independent
non-executive Director. The Board has commenced a formal search
process for a further non-executive Director. John Clarke and
Sheila Kelly, non-executive Chairman and non-executive Director
respectively, have resigned from their positions on the Board with
immediate effect to focus on other Directorships and new business
appointments.
Ian Johnson is an experienced director in the healthcare and
life science sector. He was founder and CEO of Biotrace
International plc until its sale to 3M in 2006 and is currently
Executive Chairman of Bioquell PLC and non-executive Chairman of
Cyprotex plc. Ian has also served on the boards of various public
and private companies in strategic consultancy and business
development capacities including: Celsis International, Evans
Analytical Group, MyCelx Technologies Corporation and AOI Medical
Inc. Ian is a chartered biologist and a member of the Royal Society
of Biology and the Institute of Directors.
Christopher Mills is an experienced non-executive Director. He
founded Harwood Capital Management Ltd in 2011, a successor from
its former parent company J O Hambro Capital Management Ltd, which
he co-founded in 1993. He is Chief Executive of North Atlantic
Smaller Companies Investment Trust plc, a Director and Investment
Manager of Oryx International Growth Fund Ltd and Chief Investment
Officer of Harwood Capital LLP. He is also a non-executive Director
of several AIM-listed companies. Christopher was a Director of
Invesco MIM, where he was head of North American investments and
venture capital and of Samuel Montagu International. Together,
North Atlantic Smaller Companies Investment Trust PLC and Oryx
International Growth Fund Limited are interested in 13,850,000
Ordinary Shares representing 11.08 per cent. of the entire issued
share capital of the Company.
Dr John Brown is an experienced non-executive director who has
extensive experience in the life sciences and healthcare sectors.
He is Chairman of Kyowa Kirin International and the Cell and Gene
Therapy Catapult and a Director of Electrical Geodesics Inc. His
board experience includes his roles as Chairman of Touch Bionics
Ltd, BTG plc, and Axis-Shield plc, and as a Director of Vectura
Group plc, Cambridge Antibody plc and Acambis plc.
Chris Rigg, Quantum's CEO & CFO, said:
"I am delighted to be appointed as Quantum's CEO and would like
to thank the Board and our major shareholders for their support.
Whilst the Group has faced some challenges in the recent past, the
focused and simplified strategy now in place has the potential to
drive shareholder value and I look forward to working with Ian,
Christopher, John and Quantum's senior management team to deliver
this.
"On behalf of Quantum, I would also like to thank John Clarke
and Sheila Kelly for their services since the Group's admission to
AIM in 2014 and wish them well for the future."
The following information is disclosed pursuant to Schedule Two
paragraph (g) of the AIM Rules for Companies. Ian Roy Johnson, age
63 years, has been a director of the following companies during the
five years preceding the date of this announcement:
Current directorships Past directorships
---------------------- --------------------------------
Biofortuna Limited Celesis Group Limited
Bioquell Plc Finance Wales Plc
Bioquell UK Limited Lumora Limited
Bioxyquell Limited Mycelx Technologies Corporation
Cyprotex plc Ruskinn Life Sciences Limited
Klenitise Limited Toximent Limited
Companies that went into administration and creditors lost money
as a result of liquidation:
-- Pure Options Solutions - Administrators appointed on 30
November 2010. The estimated deficiency to investors and creditors
was GBP4.49 million.
Administration ongoing:
-- Toximet Limited - Ian Johnson resigned on 30 April 2015 -
Administrator appointed 13 November 2015.
The following information is disclosed pursuant to Schedule Two
paragraph (g) of the AIM Rules for Companies. John Robert Brown,
age 61 years, has been a director of the following companies during
the five years preceding the date of this announcement:
Current directorships Past directorships
-------------------------- ----------------------------------
BioCity Nottingham Ltd Axis-Shield plc Touch Bionics
Ltd
Cell Therapy Catapult Ltd BioIndustry Association
Electrical Geodesic Inc CXR Ltd
ProStrakan Group Ltd Mode Diagnostics Ltd
Synpromics Ltd Scottish LifeSciences Association
Vectura Group plc
The following information is disclosed pursuant to Schedule Two
paragraph (g) of the AIM Rules for Companies. Christopher Harwood
Bernard Mills, age 63 years, has been a director of the following
companies during the five years preceding the date of this
announcement:
Current directorships Past directorships
----------------------------------- ----------------------------------
62 Pont Street (Freehold) Academic Research Ltd
Limited
Agrisense Industrial Monitoring Alba Investment Properties
Limited Intermediate Holdings
Limited
Alba Investment Properties Baltimore Capital PLC
Holdings Limited (in liquidation)
Alba Investment Properties Baltimore Technologies
Limited (Holdings) Limited
Alternateport Limited Baltimore Technologies
(UK) Limited
Assetco PLC Bionostics Holdings Ltd
B&G (Europe) Holding Limited Bionostics Ltd
B&G Equipment Co CCH Advisers Ltd
Bioquell PLC Celsis Group Ltd
Catalyst Media Group PLC Celsis International
Ltd
Catalyst Media Holdings Limited Darby Group Limited
Consolidated Venture Finance Forefront Group Ltd
Limited
Coventbridge Group Limited GTL Resources Ltd
Cross-Border Publishing (London) GTL Resources Overseas
Limited Investments Ltd
Cyprotex PLC H.Townsend & Sons (Builders)
Limited
EKF Diagnostics Holdings Hampton Land & Estates
PLC Limited
GlobalOptions Group, Inc. Hampton Trust PLC
Goals Soccer Centres PLC Harwood Capita LLP
Growth Financial Services Highrix Limited
Limited
Hampton Investment Properties Izodia Plc
Limited
Harwood Capital Management J O Hambro Capital Management
Limited Ltd
Harwood Capital Nominees Jarvis Porter (Property
Limited Holdings Ltd)
Harwood Holdco Limited Kelvinhaugh Student accommodation
Limited
Harwood Multi Manager Limited M J Gleeson Ltd
Harwood Real Estate Limited Merchant Properties General
Partner Ltd
Harwood Wealth Management Merchant Properties Nominees
Group PLC Ltd
Indoor Bowling Acquisitions Merchant Properties Two
Limited General Partner Ltd
Indoor Bowling Equity Limited Merchant Properties Two
Nominee 1 Ltd
IR Media Group Limited Merchant Properties Two
Nominee 2 Ltd
Jaguar Holdings Limited Mount Street Properties
Limited
Journey Group PLC Nastor Investments Ltd
MJ Gleeson PLC Nationwide Accident Repair
Services Ltd
North Atlantic Smaller Companies Orthoproducts Ltd
Investment Trust PLC
Oryx International Growth Prime Focus London PLC
Fund Limited
Performance Chemicals Company Progeny, Inc.
Satellite Information Services Quarto Group Inc.
(Holdings) Limited
Sherwood Holdings Limited RGS(1) Ltd
Source Bioscience Plc Sinav Ltd
Stratton Street (Anthony) Stratifer Ltd
Limited
Stratton Street (Mouse No.1) Toftplan Property Ltd
Limited
Sunlink Health Systems, Inc. Valient Sports Holdings
Ltd
Team Rock Limited W G Mitchell (2005) Ltd
The Indoor Bowling Company W G Mitchell (Charlotte
Square) Ltd
The Tagos Group W G Mitchell (Fifteen)
Ltd
Tramworks Limited (in liquidation) W G Mitchell (George
Street) Ltd
W G Mitchell (Seven)
Ltd
W G Mitchell Enterprises
Ltd
Winnfield Holding Corporation
In addition, Christopher Mills has been a director of the
following companies which have been placed into liquidation or
receivership/administration:
All creditors paid in full:
-- Nationwide Security Group plc - Receivership completed 2 March 2005
-- Tricor plc - resigned 3 February 2003 - Voluntary arrangement completed 2 April 2014
Companies that went into administration and creditors lost money
as a result of liquidation:
-- Valiant Sports Holdings Limited - Creditors' voluntary
liquidator appointed on 2 April 2013. The estimated deficiency to
investors and creditors was GBP2,667,085
-- Jarvis Porter Group plc - Administration completed 28 August
2008 - a dividend of 3 pence per share was paid to unsecured
creditors
-- United Industries plc - resigned 28 October 2005 -
Administration completed 26 January 2008. The estimated deficiency
to investors and creditors was GBP48,142,869
-- Versatile Group Limited - Administrative receiver appointed 3
September 1998 by Bank of Scotland who had charges and cross
guarantees supporting a debt of GBP2.4 million. In addition, the
group had estimated deficiencies as regards creditors of GBP0.6
million and total estimated deficiencies in excess of GBP0.7
million. Versatile Group Limited was struck off the register on 15
May 2001
Administration ongoing:
-- W.G. Mitchell (2005) Limited - Christopher Mills resigned on
12 January 2015 - Administrator appointed 1 April 2009
-- W.G. Mitchell (Charlotte Square) Limited - Christopher Mills
resigned on 12 January 2015 - Administrator appointed 1 April
2009
-- W.G. Mitchell (George Street) Limited - Christopher Mills
resigned on 12 January 2015 - Administrator appointed 1 April
2009
-- W.G. Mitchell (Enterprises) Limited - Christopher Mills
resigned on 12 January 2015 - Administrator appointed 1 April
2009
-- W.G. Mitchell (Fifteen) Limited - Christopher Mills resigned
on 12 January 2015 - Administrator appointed 1 April 2009
-- W.G. Mitchell (Seven) Limited - Christopher Mills resigned on
12 January 2015 - Administrator appointed 1 April 2009
There is no further information to be disclosed pursuant to Rule
17 or Schedule Two paragraph (g) of the AIM Rules for
Companies.
- Ends -
For further information:
Quantum Pharma Plc Tel: +44 (0) 1207
279 404
Chris Rigg, CEO & CFO www.quantumpharmaplc.com
Craig Swinhoe, Group Strategic
Projects Director and Company
Secretary
Zeus Capital Limited Tel: +44 (0) 20
(Nominated Adviser & Joint 3829 5000
Broker) www.zeuscapital.co.uk
Andrew Jones / Nick Cowles
/ Jamie Peel
Dominic Wilson / Adam Pollock
/ John Goold
N+1 Singer Tel: +44 (0) 20
(Joint Broker) 7496 3000
Aubrey Powell / James White www.n1singer.com
/ Sandy Ritchie
Nick Owen / Brough Ransom
Media enquiries:
Buchanan
Henry Harrison-Topham / Sophie Tel: +44 (0) 20
Cowles / Steph Watson 7466 5000
quantumpharma@buchanan.uk.com www.buchanan.uk.com
Notes to Editors
Quantum Pharma Plc is a service-led, niche pharmaceutical
developer, manufacturer and supplier to the retail pharmacy,
pharmaceutical wholesaler, hospital, homecare and care home
markets. Quantum Pharma operates through three divisions, offering
a portfolio of innovative and complementary products and
services.
Specials comprises four business units (Quantum Pharmaceutical,
UL Medicines, NuPharm and Quantum Aseptics Services), which
manufacture, procure and supply unlicensed medicines (specials) and
special obtains. In response to a request from a prescriber for a
bespoke medicine or special product to optimise patient treatment,
the division manufactures, procures and supplies bespoke specials;
batch made specials; aseptically prepared sterile intravenous
medicines; imported medicines and special obtain products. With an
expansive portfolio of products, Quantum is a trusted partner to
the majority of large retail pharmacy chains in the UK, as well as
pharmaceutical wholesalers, hospitals, independent pharmacies and
dispensing doctors. The division offers an unrivalled and
constantly expanding range of products. It has a customer-focused,
service-driven business model, which provides shorter lead times
than any of its competitors.
Niche Pharmaceuticals comprises three business units (Colonis,
Lamda and PERN Consumer Products) which develop and commercialise
niche pharmaceuticals. This division is a product development and
commercialisation business focusing on taking niche drugs through
the regulatory pathway to achieve regulated status (licensed
product or medical device). The division uses the excellent
visibility of trends in the UK pharmacy and hospital markets gained
through our Specials and Medication Adherence divisions, to allow
early identification of the market opportunity to take products
from unlicensed (special) status to licensed status. The division
has a growing portfolio and pipeline of products that fit this
unlicensed to licensed pathway, as well as complementary generic,
generic plus or medical devices intended to meet unmet patient
needs across a number of therapeutic areas.
Medication Adherence comprises two business units (Biodose(R)
and Biodose Services(R)) which provide products and services to
enhance the likelihood of a patient adhering to a medication
regime, patient-focused homecare services and services to
pharmaceutical companies. It owns Biodose(R), the only medication
delivery system on the market that accommodates both liquid and
solid doses. Biodose Connect(TM) takes patient safety and adherence
to the next level by enabling remote monitoring of adherence to
medication regimes. The division also operates a range of
specialist patient-focused homecare services to the NHS, private
clinics and pharmaceutical companies across the UK and provides the
Group with exposure to the homecare and supported living sectors of
the care pathway complementing the focus of the remainder of the
Group.
For further information, please visit
www.quantumpharmaplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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