TyraTech, Inc. Directorate Changes (6659H)
June 24 2013 - 1:00AM
UK Regulatory
TIDMTYR TIDMTYRU
RNS Number : 6659H
TyraTech, Inc.
24 June 2013
24 June 2013
TyraTech, Inc.
("TyraTech" or the "Company")
Directorate Changes
The Board of TyraTech (AIM: TYR and TYRU), a life sciences
company focusing on natural insect and parasite control products,
announces that, as previously indicated on the appointment of Bruno
Jactel as Chief Executive Officer on 10 January 2013, Alan Reade
has now moved from his role as Executive Chairman to Non-Executive
Chairman.
Furthermore, following the investment in the Company from
American Vanguard Corporation ("AVD") in April 2013, the Company is
pleased to announce that Mr. Eric Wintemute has been appointed to
the board of the Company as a Non-Executive Director with immediate
effect.
Mr. Wintemute is the Chairman and Chief Executive Officer of
AVD. Mr. Wintemute joined AVD in January 1994 as Executive Vice
President, Chief Operating Officer, and a member of the Board of
Directors following AVD's acquisition of GemChem Inc., a national
and international chemical distribution company he co-founded in
1991. From 1977 to 1982, Mr. Wintemute, worked for AMVAC Chemical
Corporation ("AMVAC"), a wholly owned subsidiary of AVD, in a
variety of sales, purchasing and production control capacities. As
a Vice President and Director of R.W. Greeff & Co. from 1982 to
1991, Mr. Wintemute oversaw the national and international
distribution of key AMVAC chemical products. Mr. Wintemute holds a
Bachelors of Science in Economics from the University of
California, San Diego.
Following a special meeting of the Company's shareholders on 28
March 2013, AVD completed a subscription for 49,400,000 common
shares in the Company, representing 29.23% of the Company's total
voting rights. AVD also holds 10,000,000 warrants in the Company
(the "Warrants"). If AVD were to exercise the Warrants in full, it
would hold approximately 31.73% of the Company's total voting
rights on a fully diluted basis (i.e. assuming exercise in full of
all outstanding options held by directors and staff and of the
Warrants). Mr. Wintemute owns 4.19% of AVD.
Commenting on Mr. Wintemute's appointment, Bruno Jactel, Chief
Executive Officer of TyraTech said: "We are delighted to have Eric
join the Board and bring his experience to further enhance our
competencies. AVD's participation in our recent fundraising
reflects both the confidence in the prospects of our business by
our strategic partner, AMVAC and the opportunities available to the
Company as its technologies move from the development stage to the
commercialisation of numerous applications through multiple retail
and distribution channels."
Commenting on Alan Reade's move to Non-Executive Chairman of the
Company, Bruno Jactel said: "On behalf of the Board, I would like
to thank Alan for his substantial contribution to the Company as
Executive Chairman over the past 3 years. Alan has been
instrumental in building value, particularly with regard to
intellectual property, obtaining product licences, commercial
agreements and the Company's recent strategic funding from AVD. We
are delighted that Alan will remain on the Board as Non-Executive
Chairman during this important stage in the Company's commercial
growth.
Appendix - Information required under AIM rules
Save as disclosed below, there are no further disclosures to be
made under Schedule Two, paragraph (g) of the AIM Rules.
Eric Glenn Wintemute, aged 57
Directorships and partnerships held over the five years
preceding the date of appointment are as follows:
Current:
American Vanguard Corporation
AMVAC Chemical Corporation
AMVAC Chemical UK Limited
AMVAC Netherlands BV
CropLife America
Envance Technologies LLC
Past:
None
For further information please contact:
TyraTech Inc.
Alan Reade, Non-Executive Chairman
Tel: +1 919 415 4310
Bruno Jactel, Chief Executive Officer
Tel: +1 919 415 4340
N+1 Singer, Nominated Adviser and Joint Broker
Jonny Franklin-Adams / Alex Wright
Tel: +44 20 7496 3000
First Columbus LLP, Joint Broker
Chris Crawford
Tel: +44 20 3002 2070
Walbrook, Financial PR and IR
Bob Huxford / Guy McDougall (Public Relations)
Tel + 44 7933 8792
Paul Cornelius (Investor Relations)
Tel +44 20 7933 8794
This information is provided by RNS
The company news service from the London Stock Exchange
END
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