Information  X 
Enter a valid email address

Bermele PLC (BERM)

  Print      Mail a friend

Wednesday 14 August, 2019

Bermele PLC

Corporate Update & Board Appointment

RNS Number : 9454I
Bermele PLC
14 August 2019
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO UNITED STATES NEWS WIRE SERVICES OR IN OR INTO, AUSTRALIA, CANADA, JAPAN, THE UNITED STATES OF AMERICA OR SOUTH AFRICA OR ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

 

                                                                          

For Immediate Release

14 August 2019

                                                                          

Bermele Plc

("Bermele" or "the Company")

 

Corporate Update

Board Appointment

Bermele, a Company formed to acquire a target company (or companies) with realisable or developed commercial technologies in the pharmaceutical and biotechnology sector, is pleased to update shareholders on its progress to date. The Board of Directors have reviewed a number of exciting commercial opportunities all of which fit the mandate for acquisition opportunities, insofar as they deliver key inflection points of value for shareholders and demonstrate a significant proprietary Intellectual Property (IP) position.

At present, none of the opportunities reviewed to-date meet the strict criteria the Board are applying, which they believe would generate significant returns for shareholders. As such, the Board are excited to review further potential transactions with a view to completing an acquisition by way of a reverse takeover in the coming months.

Board Appointment

The Company is pleased to announce the appointment of Anthony Henry Reeves as a Non-Executive Director of the Company with immediate effect. Mr Reeves has over 45 years' Public Company experience in Europe, USA and the Middle East. He is currently the Executive Chairman of Defenx Plc, an AIM listed cyber-security software group. He was formerly a non-executive director of Levrett Plc which completed the successful acquisition of Nuformix Plc, by way of a reverse takeover in 2017.

Prior to this he held the position as non-Executive Chairman of The Kellan Group plc, the AIM listed recruitment business, until 2015 and prior to this, he was Chairman and chief executive officer of the Hotgroup plc until its acquisition in 2005. Previously, he was Chairman and chief executive officer of the Delphi Group plc until 2001 when it was acquired by Adecco SA. Before joining Delphi Group plc, Mr Reeves was Chairman, President and chief executive officer of Lifetime Corporation, a recruitment agency staffing hospitals and construction projects primarily in the Middle East. He oversaw the reverse of Lifetime Corporation into a company listed on the American Stock Exchange in 1986 with revenues of $25 million, which grew to $1 billion in 1993. Mr Reeves oversaw the sale of Lifetime Corporation to Olsten for $660 million.

Award of Options

Pursuant to his appointment as a non-executive director, the Board have agreed to award Mr Reeves options over 4,000,000 new Ordinary Shares of 0.1p per share (representing 2% of the issued share capital) at an exercise price of 1.25 pence per share (the "Options"), being the mid-market closing price on 13 August 2019. The Options vest immediately and may be exercised at any time from the date of Re-Admission to the third anniversary of Re-Admission following a Reverse Takeover.

Mr Reeves currently holds the following directorships of publicly quoted companies (excluding directorships of the Company) and has held the following directorships of publicly quoted companies within the previous five years:

Current

Defenx plc

Past

Nuformix plc (formerly Levrett plc)
Cloudtag Inc.
Phibex plc (dissolved via voluntary strike-off)

The Kellan Group plc (re-registered as a private company in January 2019)

 

Mr Reeves was a director of the following companies which have been put into liquidation whilst either Mr Reeves was a director of the relevant company or within 12 months' of Mr Reeves' resignation as a director of the relevant company, as more particularly described below:

 

·      Brighter Prospects (Recruitment Services) Limited was placed into creditors' voluntary liquidation on 13 May 2009 and was subsequently dissolved on 23 April 2014. The Liquidators' statement of account dated 16 January 2014 stated that there were insufficient funds to pay a dividend to preferential creditors or unsecured creditors.

 

·      Mr Reeves resigned from his position as a director of CT Technology Services Limited on 31 March 2017. The company was put into compulsory liquidation by way of a court order on 20 June 2018 following a petition for winding up by HM Revenue and Customs on 26 October 2017.

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

Enquiries:

Bermele Plc

Jamie Bligh

 

+44 (0) 20 3475 9760

[email protected]

Novum Securities Limited

Colin Rowbury

 

+44 (0) 20 7399 9400

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
BOADMGMRRFVGLZM

a d v e r t i s e m e n t