Appointment of Non-Executive Director

RNS Number : 0182Z

Spectra Systems Corporation

12 September 2022

 

Spectra Systems Corporation

("The Company" or "Spectra Systems")

Appointment of Non-Executive Director

Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies and gaming security software is delighted to announce that it has agreed to appoint Dr. Barbara Paldus (aged 52) as an Independent Non-Executive Director.

Barbara has over 20 years of industry expertise in developing emerging domestic and international marketplaces, including bio-processing, personalized medicine, cell therapy, biotech beauty, and analytical process equipment. She founded two companies whose combined revenue exceeded $250M in 2021. She also has a doctorate in electrical and electronics engineering from Stanford University.

In 1998 Barbara was a founder of Picarro, a leading provider of cavity-ring-down instruments (CRDS) and solutions to measure greenhouse gas (GHG) concentrations, trace gases, and stable isotopes across many scientific applications, along with the energy, life science, and utilities markets where she successfully exited in 2006. In 2005 she founded Finess Solutions, a leader in the development of scalable control automation systems and software for bioproduction. Its proprietary Smart technology, which consists of sensors, controllers, and software is designed to optimize the bioproduction workflow. Finess Solutions was sold to Thermo Fisher in 2017. Barbara was also an operating partner for Skymoon Ventures from 2005 until  2017, a venture fund ($100 million invested) focused on early-stage chip, GPS, bioproduction, optical laser components, and analytical instrumentation.

Barbara is currently the CEO and Founder of Codex Labs, a Global collection of biotech-based skincare solutions based on disruptive plant-based biotech ingredients, cGMP manufacturing, industry-leading carbon-footprint minimizing packaging, and data-driven clinical testing.

Dr. Nabil Lawandy, CEO of Spectra Systems, stated: "I am delighted to welcome Barbara to Spectra Systems and believe that her extensive entrepreneurial experience, particularly in technology solutions will be of immense value to us."

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.

Barbara Alice Paldus' directorships and partnerships in the last five years are as follows:

Current Directorships

Codex Beauty Corporation

Codex Beauty Corporation

Sekhmet Ventures LLC

Codex Beauty (UK) Ltd

Codex Labs Europe Ltd

Adva Biotechnology Ltd

Past Directorships

Codex Beauty Service Corporation

Finesse Solutions Inc

Sekhmet Ltd

There is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules.

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

Spectra Systems Corporation Dr. Nabil Lawandy, Chief Executive Officer	Tel: [phone]
WH Ireland Limited (Nominated Adviser and Broker) Chris Fielding (Head of Corporate Finance) Andrew de Andrade (Executive, Corporate Finance)  Allenby Capital Limited  (Joint Broker) Nick Naylor/James Reeve (Corporate Finance) Amrit Nahal (Sales and Corporate Broking)	Tel: [phone] Tel: [phone]

 

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