Directorate Change

RNS Number : 4625P

Venture Life Group PLC

18 February 2016

 

Venture Life Group PLC

("Venture Life" or the "Company")

Directorate Changes

Bracknell, UK - 18 February 2016: Venture Life Group plc (AIM: VLG), the international consumer healthcare group addressing the self-care needs of the ageing population, announces the appointment of Peter Bream to the Board as a non-executive director with effect from 17 February 2016. Peter will chair the Group's Audit and Risk Committee and will also be a member of the Remuneration and Nomination Committees. 

Currently the Group Finance Director of Alcontrol Laboratories, Peter is a Chartered Accountant and has a degree in Engineering and Management from Cambridge University.  He has over 20 years in international business including as a CFO of public companies in the pharmaceuticals, engineering, and chemical sectors.

Peter replaces Ian Mackinnon as a non-executive director who has resigned from the Board in order to devote more time to his other business interests. Ian stood down from the Board on 17 February 2016.

Dr. Lynn Drummond, non-executive Chair of Venture Life, commented: "I would like to welcome Peter to the Board of Venture Life.  I am confident that his significant financial and audit experience in growth companies, and his experience of international business, including in China, will prove to be invaluable as Venture Life continues to grow its business. The Board and I look forward to working with Peter during the next stage of the Company's development.

We would like to thank Ian for his services and contribution to the Company. He has provided valuable insight to the Board and management team since joining, and on behalf of the Board, I wish him all the best for the future."

Peter Edward Bream, age 49, is currently a Director of, or during the past five years has been a Director of, the following companies:

Current Directorships

Alcontrol Group Limited

Alcontrol Holdings (UK) Limited

Alcontrol Holdings Limited

Alcontrol Financial Limited

Alcontrol UK Limited

Alcontrol Sweden Limited

Alcontrol Netherlands Limited

Alcontrol Holdings (Sweden) AB

Alcontrol Sweden AB

Alcontrol AB

Alcontrol Norway AS

Alcontrol AS

Alcontrol Food BV

Previous Directorships (held within the past five years)

Alcontrol Trustee Company Limited

Geochem Group Limited

Microtech Food Laboratories Limited

Poroperm Geochem Limited

Victrex Manufacturing Limited

Victrex PLC

Victrex Sales Limited

Victrex Trading Limited

Victrex Trustee Limited

Victrex USA Holdings Limited

Victrex Sales Limited, a company to which Mr Bream was appointed Director by way of being a subsidiary of Victrex PLC, was voluntarily dissolved on 23 August 2011 during Mr Bream's appointment with no liabilities outstanding.

Mr Bream was appointed as a Director of Alcontrol Trustee Company Limited, Geochem Group Limited, Microtech Food Laboratories Limited and Poroperm Geochem Limited by way of being subsidiaries of Alcontrol Holdings, where Mr Bream has been a director since 6 November 2012. The four subsidiary companies were voluntarily dissolved during Mr Bream's respective appointments with no liabilities outstanding.

Provalis plc entered into a members' voluntary liquidation on 20 September 2006, within twelve months of Mr Bream's appointment, with all liabilities settled, and was dissolved on 25 December 2014.

Venture Life Group plc confirms that there are no further disclosures to be made in relation to Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies.

For further information please contact:

Venture Life Group PLC

Jerry Randall, Chief Executive Officer                                                                    [phone]

James Hunter, Chief Financial Officer                                                   

Panmure Gordon (UK) Limited (Nominated Adviser and Broker)                             
Freddy Crossley                                                                                                               [phone]

Peter Steel

Duncan Monteith                                                                                                           
Corporate Finance

Tom Salvesen
Corporate Broking                                                                                                          

Square1 Consulting

David Bick

Brian Alexander                                                                                                               [phone]

About Venture Life

Venture Life is an international consumer self-care company focused on developing, manufacturing and commercialising products for the ageing population. The Group's product range and pipeline currently includes food supplements for lowering cholesterol and maintaining brain function, dermo-cosmetics for addressing the signs of ageing, and medical devices for improving minor aches and pains, dry eyes and itchy skin. The products, which typically are recommended by pharmacists or healthcare practitioners, are available primarily through pharmacies supplied by the Group's international distribution partners.

Venture Life announced on 12 February 2016 a proposed placing and issue of convertible bonds in connection with the proposed acquisition of Periproducts Limited, an oral care products company with a range of premium products including mouthwashes, which are alcohol-free, and toothpastes.

Products in Periproducts' leading range, UltraDEX®, are used to treat bad breath, remineralise and whiten teeth and kill bacteria which cause plaque, which can in turn lead to tooth decay and gum disease. Incorporating patent protected and licensed intellectual property, the UltraDEX® products, including UltraDEX® Recalcifying & Whitening range, are regarded as being particularly effective at managing bad breath, as supported by clinical data evidencing efficacy.  Completion of the acquisition of Periproducts, and the related Placing and issue of convertible bonds, are expected to take place on or around 3 March 2016.

Through its manufacturing company, Biokosmes, the Group also provides development and manufacturing services to companies in the medical devices and cosmetic sectors.

The Group's own branded products are currently sold or partnered in over 40 countries and currently include:

·     food supplements to maintain brain function and memory;

·     dermo-cosmetics for addressing the signs of skin ageing and hair loss, and

·     medical devices for improving conditions such as minor aches and pains, dry eyes and itchy skin.

The Company has a healthy development pipeline including products in areas such as diabetes, cardiovascular health, obesity, cognitive function and skin ageing. Products coming from the pipeline will be expected to have intellectual property protection and be supported by independent clinical evidence of efficacy.

 

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