VLG Venture Life Group Plc

4^th February 2024

VENTURE LIFE GROUP PLC

("Venture Life", "VLG" or the "Company")

Board changes

Venture Life (AIM: VLG), a leader in developing, manufacturing and commercialising products for the international self-care market,  announces some upcoming changes to the Board.

The recent acquisition of Health & Her Limited in November 2024 has increased VLG's presence in the vitamins and minerals space. Mr Paul McGreevy, Non-Exec Chair of the Company has identified that as this business segment of VLG aggressively grows, it presents a potential conflict of interest with his current position as CEO of Revive Active Limited, an Eire based vitamins and minerals business, which operates in similar segments. As a result of this potential future conflict of interests, and as part of our robust succession plans, Mr McGreevy has indicated his intention to step down from the Board of VLG as both Chair and non-executive Director at the time of the announcement of the Company's annual results for the year ended 31^st December 2024, which is expected to be in late April 2025. Mr Mark Adams, who has been a non-executive director of the Company since 2022, has accepted the invitation from the Board to take over as Chair of the Board at that time.

A process has begun to identify and appoint a replacement non-executive director who will also take the position of Chair of the Audit Committee, that will be vacated by Mr Adams when he becomes Chair.  A further announcement in this respect will be made in due course.

The Board wishes to extend its deepest thanks to Mr McGreevy for all his hard work, insight, diligence and support of the business since joining us in 2022. His work as Chair of the Board has facilitated the continued growth of the business and improvement of its operational efficiency, as well as of the effectiveness and operation of the Board.

Jerry Randall, CEO of Venture Life Group plc commented: "I will be very sorry to lose Paul from the Board as he has been such a positive influence and support for VLG since he joined, as well as an exceptional mentor for me. I am sure the Board and everyone at VLG will join me in thanking Paul for all he has done for us and wishing him well for his future endeavours"       

Paul McGreevy, Chair of Venture Life Group plc commented: "My confidence in the future of VLG has never been higher with so many exciting value creating initiatives commencing. It saddens me to leave the Board at this time due to the impending conflict of interests, but I have absolute confidence in Mark and the rest of the Board to accelerate our growth. I will be retained as an adviser going forward for aspects of the business that avoid any conflict of interests."

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About Venture Life (www.venture-life.com)

Venture Life is an international consumer self-care company focused on developing, manufacturing and commercialising products for the global self-care market. With operations in the UK, Italy, The Netherlands and Sweden, the Group's product portfolio includes Balance Activ in the area of women's intimate healthcare, Earol® supporting ENT care, Lift and Glucogel product ranges for energy and glucose management and hypoglycaemia, the Health and Her product range supporting the hormonal lifecycle, Gelclair and Pomi-T for oncology support, the UltraDEX and Dentyl oral care product ranges, products for fungal infections and proctology, and dermo-cosmetics for addressing the signs of ageing.

The products, which are typically recommended by pharmacists or healthcare practitioners, are available primarily through pharmacies and grocery multiples. In the UK and The Netherlands these are supplied direct by the Company to retailers, elsewhere they are supplied by the Group's international distribution partners. 

Through its two Development & Manufacturing operations in Italy and Sweden, the Group also provides development and manufacturing services to companies in the medical devices and cosmetic sectors.