Board Appointment

RNS Number : 8287L

Iofina PLC

16 August 2013

 



16 August 2013

Iofina plc

("Iofina" or the "Company")

(LSE AIM: IOF)

Board Appointment

Iofina, specialists in the exploration and production of iodine and iodine specialty chemical derivatives, is pleased to announce the appointment of Mr Gary Dale Gatchell as an Executive Director to the Board.  Gary will also serve as the Company's Finance Director with effect from September 3, 2013. 

Gary (56) has a demonstrable twenty five year track record of financial experience and expertise. Most recently Gary was Chief Finance Officer of NASDAQ listed Ascent Solar Technologies, Inc. ("Ascent Solar").

Gary brings to Iofina a strong background in public company financial reporting and internal controls.  He also has experience with private and public capital funding, as well as merger and acquisition activity on both the buy-side and sell-side. 

From 2005 to 2008, he served as the Chief Financial Officer of Carrier Access Corporation ("Carrier Access"), a telecommunications equipment provider, to reorganise finance and administration infrastructure. Prior to joining Carrier Access, Gary was part of the original founding management team of Voyant Technologies, Inc. ("Voyant"), a leading provider of audio conferencing equipment that was subsequently acquired by Polycom, Inc.  Serving as Chief Financial Officer he helped grow Voyant from eight employees to over two hundred, enabling a return of 20x to Voyant's Series A investors, after only four years.  A previous audit manager at KPMG, Gary is a registered Certified Public Accountant and has a Master's degree in Accountancy from the University of Denver. 

The Company's current Finance Director, Michael Coddington, will remain with the Company as Chief Financial Officer of Iofina Chemical, Inc., allowing him to focus on the growth and financial aspects of this division.  Michael has done an excellent job for the Company during his tenure as Finance Director.  As was always planned, once the Company established itself as a key player in the iodine market, strengthening of the Company's financial team was envisioned to ensure rapid growth, good corporate governance and balance the workload across a sound financial management team of which Michael will be a key part.

Commenting on the appointment Dr. Chris Fay, Executive Chairman, said ''We are very pleased to welcome Gary to the Board at a very exciting time in the Company's development. Gary has extensive financial management experience that will be important as Finance Director in order to maximise this exciting rapid time of growth and profitability. The Board would like to thank Michael for his support to date and looks forward to working with him in the future"

Save as set out below there is no further information required to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules:

Current Directorships:	Directorships in past 5 years
	Colorado Advanced Manufacturing Alliance

For further information, please contact:

Dr. Chris Fay, Executive Chairman 

Iofina plc

Tel: [phone]

www.iofina.com

Ben Colegrave/Chris Sim/James Rudd

Investec

Tel: [phone]

Media Contact:

Dominic Barretto

Yellow Jersey PR Limited

Tel: [phone]

About Iofina

Iofina specializes in the exploration and production of iodine, iodine specialty chemical derivatives, produced water and natural gas. Iofina's business strategy is to identify, develop, build, own and operate iodine extraction plants currently focused in North America based on Iofina's WET® IOsorb™ technology. Iofina has iodine production operations in the United States, specifically in Texas, California, Montana, Oklahoma and Wyoming. The Group has complete vertical integration from the production of iodine in the field to the manufacture of the chemical end products derived from iodine to the consumer and the recycling of iodine using iodinated side-streams from waste chemical processes in Europe, North America and Asia. The Group utilizes its portfolio of patented and patent pending technology, proprietary methods and trademarks throughout all business lines.

 

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