Directorate Change

RNS Number : 6915J

Revolymer PLC

13 September 2016

 

13 September 2016

Revolymer plc ("Revolymer" or the "Company")

Revolymer appoints non-executive director

Revolymer (AIM: REVO) is pleased to announce the appointment of Dr James Joseph Barber as a non executive director with effect from 12 September 2016, representing the interests of the previous shareholders of Itaconix Corporation as their Revolymer board nominee, a right conveyed under the merger agreement between Itaconix Corporation and the Company.

Since 2007, Dr Barber has run his own business consultancy practice, Barber Advisors LLC, and has served as an advisor and a director for a number of firms. Prior to this, Dr. Barber served as President and CEO of Metabolix, Inc. from January 2000 to May 2007. During this period, he led the transformation of Metabolix from a research boutique to a world renowned, highly regarded leader in "clean tech" and industrial biotechnology, building the company into a multi-disciplinary, industry leading, publicly traded enterprise with a market cap of over $500m. He negotiated a highly attractive joint venture arrangement with Archer Daniels Midland for commercialising Metabolix's first product platform, Mirel natural plastics, and took the company public on NASDAQ in November 2006.

Prior to joining Metabolix Inc., Dr Barber served as Global Business Director for the Organometallics and Catalysts business of Albemarle Corporation, with global P&L responsibility for a $100m+ business, and as Representative Director of Nippon Aluminum Alkyls, a joint venture Company between Albemarle Corporation and Mitsui Chemicals, Inc. During his tenure with Albemarle Corporation, he led the development and implementation of strategies that resulted in the strong growth of its polymer catalyst business, including its emerging single-site/metallocene catalyst business.

Prior to his position with Albemarle Corporation, Dr. Barber served as Director, Business Development with Ethyl Corporation, with responsibility for acquisitions and managing Ethyl Corporation's venture capital activities; as President of Geltech, Inc., a venture capital backed company focused in the area of precision moulded micro optics; and as Chief Operating Officer of Hyperion Catalysis International, a pioneering developer and producer of carbon nanofibers.

Dr. Barber received the American Chemical Society's Henry F. Whalen, Jr. award for Business Development in September 2003. He has a BS degree in Chemistry from Rensselaer Polytechnic Institute and a PhD in Organic Chemistry from the Massachusetts Institute of Technology. He serves on the Advancement Council of the College of Polymer Science and Polymer Engineering at the University of Akron, and as a non executive director of Graham Corporation and Nanocomp Technologies, Inc.

Dr Barber commented:

"I am excited to have this opportunity to assist Revolymer through the next phase of its development as it seeks to deliver on its vision of being a leader in functional polymers that manage the interface between different surfaces and phases to improve the safety, performance or sustainability of its customers' products, and I look forward to working with the board, management and investors."

Dr Bryan Dobson, Chairman of Revolymer plc, commented:

"We are very pleased to have appointed Dr Jim Barber to the board of Revolymer as a non-executive director. He has a balance of relevant technical expertise and business management experience, and I am sure will be instrumental in helping shape the future of Revolymer's business."

Additional Information

In accordance with the AIM Rules for Companies, the following information required to be disclosed in relation to Dr Jim Barber is set out below. Other than this information, there is no further information required to be disclosed under paragraph (g) of Schedule Two of the AIM Rules for Companies.

Full name and age: Dr James ("Jim") Joseph Barber, aged 63

Current beneficial shareholding in the Company: nil

Directorships:

Current	Previous (previous 5 years)
Nanocomp Technologies Inc.	Segetis Inc.
Graham Corporation	Itaconix Corporation
Barber Advisors LLC	Agrivida Inc.
	Allylix Inc.

Dr Barber was appointed as a director of Bluewater Holdings Corp. in February 2008 until November 2010. In October 2010, the company filed for Chapter 11 bankruptcy and was dissolved thereafter.

Dr Barber was appointed as a director of Segetis Inc. in July 2012 and resigned as director in February 2016. In October 2015, the company was placed into creditors' voluntary liquidation and its assets were sold in early 2016.

Ends

For further information please contact:

Revolymer plc	[phone]
Kevin Matthews / Rob Cridland
Panmure Gordon (UK) Limited	[phone]
Adam James / Fabien Holler (Corporate Finance) Charles Leigh-Pemberton (Corporate Broking)

The information communicated in this announcement is inside information for the purposes of Article 7 of Market Abuse Regulation 596/2014 ("MAR").

About Revolymer

Revolymer is an AIM quoted company (registered number 08024489) whose vision is to be a specialty chemicals business focused on controlled release, responsive systems and delivery systems based on its expertise in the design and synthesis of polymers that improve the functional performance of its customers' products, thereby generating high margin business.

www.revolymer.com

 

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