Spectra Systems Corporation Appointment of Chief Financial Officer (7780U)
January 23 2017 - 1:00AM
UK Regulatory
TIDMSPSY TIDMSPSC
RNS Number : 7780U
Spectra Systems Corporation
23 January 2017
Spectra Systems Corporation
("The Company" or "Spectra Systems")
Appointment of Chief Financial Officer
Spectra Systems, a leading supplier of authentication technology
for banknotes, brand authentication and tax stamps, is delighted to
announce that, subject to the satisfactory conclusion of due
diligence, it has agreed to appoint Brian E McLain C.P.A. (aged 41)
as its new Chief Financial Officer.
Brian McLain started his career in 1997 at Arthur Andersen prior
to working as a senior accountant at Excelergy Corporation, a
software business, located in Lexington, MA from 2000 until 2003.
Until late 2006, he then progressed through various roles at
International Power, a UK owned power producer located in
Marlborough MA, prior to joining SeraCare Life Sciences, Inc, a
manufacturer of biological products for the diagnostics and drug
discovery markets located in Milford MA. At SeraCare, which was
quoted on NASDAQ prior to being bought out in 2012, he progressed
from the role of Corporate Controller to Vice President, Finance
& Business Solutions. In 2014, he then joined OMNIlife Science
Inc., a manufacturer and distributor of orthopaedic devices located
in Raynham, MA, in the role of Corporate Controller.
A further announcement will be made upon the conclusion of due
diligence by certain of Spectra's customers and the completion of
standard regulatory AIM background checks. This due diligence is
expected to be completed by no later than February 2017. In the
meantime, Doug Anderson, the previous Chief Financial Officer is
continuing to assist Spectra as necessary.
Brian McLain joined SeraCare Life Sciences Inc. ("SeraCare") in
January 2007, at which point it was already in a bankruptcy
process. All creditors were subsequently settled and SeraCare
exited the bankruptcy process. There are no other matters which are
required to be announced pursuant to paragraph (g) of Schedule 2 to
the AIM Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
Dr. Nabil Lawandy, CEO of Spectra Systems, stated: "I am
delighted to welcome Brian to Spectra Systems and believe that his
extensive financial experience in both private and public
businesses as well as his experience in technology driven companies
will be of immense value to us."
Enquiries:
Spectra Systems Corporation
Dr. Nabil Lawandy, Chief Executive Officer Tel: +1 (0) 401 274 4700
WH Ireland Limited
Chris Fielding (Head of Corporate Finance) Tel: +44 (0) 20 7220 1650
This information is provided by RNS
The company news service from the London Stock Exchange
END
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