TIDMLID
RNS Number : 1267Y
LiDCO Group Plc
01 March 2017
LIDCO GROUP PLC
("LiDCO" or the "Company" or the "Group")
Board Changes
LiDCO (AIM: LID), the hemodynamic monitoring company, announces
the following changes to the Board:
- Peter Grant is joining as Non-Executive Director and Chairman
Designate with effect from 6 March 2017
- Theresa Wallis, current Chairman of the Board, Audit and
Nomination Committees intends to step down from the Board at the
2017 Annual General Meeting
- Jill McGregor is joining the Board as Chief Financial Officer,
taking up her appointment no later than 3 July 2017
- Paul Clifford, current Finance Director, will retire from the Board at the end of March 2017
- Ian Brown, current Non-Executive Director, intends to step
down at the 2017 Annual General Meeting
Peter Grant
Peter Grant is joining the Board of the Company as Non-Executive
Director and Chairman Designate with effect from 6 March 2017. It
is the Board's intention that Mr Grant will succeed Ms Wallis as
Chairman of the Board, Audit and Nomination Committees when she
steps down at the 2017 Annual General Meeting.
Mr Grant was Chief Executive Officer of Skyepharma Plc from
January 2012 to June 2016 until its merger with Vectura Group plc.
He joined Skyepharma as Chief Financial Officer in November 2006.
In his four years as Chief Executive Officer of Skyepharma, the
business was transformed onto a strong growth path with revenues up
74% and pre-exceptional operating profit up 165%.
Prior to Skyepharma, Mr Grant held board positions as Interim
Chief Executive Officer at Voice Commerce Group, Group Finance
Director at Eurodis Electron PLC, Chief Financial Officer at
WorldPay plc and Finance Director then Group Chief Executive at
Molins PLC. Prior to this he held a variety of senior commercial,
financial and general management roles in the General Electric
Company PLC group of companies. He holds an MA in Mathematics from
the University of Oxford and is a Chartered Accountant.
Mr Grant is currently Non-Executive Director and Chair of the
Audit and Risk Committee at Abzena plc, an AIM quoted life sciences
group providing services and technologies enabling the development
and manufacture of biopharmaceutical products.
On his appointment, Mr Grant will be a member of the Audit,
Nomination and Remuneration Committees of the Company.
Jill McGregor
Ms McGregor is a Chartered Accountant and has over 25 years'
experience in a number of finance roles. Ms McGregor joins LiDCO
after six years as Chief Financial Officer of Touch Bionics, a UK
based provider of upper limb technologies, with operations in the
USA and Germany which was recently acquired by Össur. Prior to
this, Ms McGregor spent seven years at Optos plc, a provider of
retinal imaging devices, as Group Financial Controller and then as
Vice President and Director of Finance. Optos listed on the London
Stock Exchange in 2006 and was acquired by Nikon in 2015.
Ms McGregor will take up her appointment and join the Board no
later than 3 July 2017. In the interim period between Mr Clifford
retiring and Ms McGregor joining, LiDCO intends to appoint Mr David
Parry, as interim Head of Finance. Mr Parry has extensive
experience in entrepreneurial SME businesses, including private
equity backed and AIM quoted companies. He was previously finance
director of AIM quoted Prologic plc.
Both Ms Wallis and Mr Brown intend to step down at the 2017
Annual General Meeting after being on the board for 14 and 11 years
respectively.
Commenting, Theresa Wallis, Non-Executive Chairman of LiDCO,
said: "On behalf of the Board I warmly welcome Peter Grant as my
successor when I step down at the AGM and thank Paul Clifford and
Ian Brown for their services to the Company. These changes and the
arrival of Jill McGregor as Chief Financial Officer in the next few
months will complete the refreshing of the Board that began with
the appointment of Matt Sassone in 2015. This renewal of the Board
has taken account of the need to enable the transfer of knowledge
to the succeeding directors."
Commenting on the appointments, Matt Sassone, Chief Executive
Officer of LiDCO, said: "I am very pleased to be welcoming Peter
and Jill to the Board of LiDCO and we look forward to benefiting
from their breadth of experience as we enter the next stage of the
Company's growth. I would like to extend my thanks to Theresa, Ian
and Paul for all of their support and guidance during my first 19
months as CEO."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
LiDCO Group Plc www.lidco.com
Matt Sassone (CEO) Tel: +44 (0)20 7749 1500
Paul Clifford (Finance Director)
finnCap Ltd Tel: +44 (0)20 7600 1658
Geoff Nash / Emily Watts (Corporate
Finance)
Stephen Norcross (Corporate
Broking)
Walbrook PR Ltd Tel: 020 7933 8780 or lidco@walbrookpr.com
Anna Dunphy Mob: 07876 741 001
Lianne Cawthorne Mob: 07584 391 303
The following information is disclosed pursuant to Rule 17 and
Schedule Two Paragraph (g) of the AIM Rules for Companies:
Philip William Grant, age 61, holds or has held the following
directorships or partnerships in the past five years:
Current Directorships or Partnerships Previous Directorships or Partnerships
Abzena plc Skyepharma PLC
Searching Solutions Ltd SkyePharma Holding AG
SkyePharma AG
Skyepharma Management AG
Jagotec AG
Jago Holding AG
Skyepharma Holding Inc
Skyepharma US Inc
Skyepharma (Jersey) Limited
Bolag nr 16 i Malmö AB
Krypton Limited
Vine Northern Limited
Vine Industries Limited
Vinestand Limited
Playscheme Limited
Sun Wharf (Stratford) Limited
Vine Exhibition Limited
Vine (Building Maintenance) Limited
Big Ben Scaffolding Limited
Mr Grant resigned from the board of Eurodis Electron PLC in
January 2005 for family health reasons. In March 2005, a major
franchiser gave notice of termination of its relationship with
Eurodis Electron PLC, and in July 2005 the lead finance provider to
Eurodis Electron PLC reduced the facilities and the company (and a
number of its subsidiaries) went into administration.
Peter currently holds no interest in the ordinary share capital,
or other securities, of LiDCO.
Save as disclosed above there are no additional disclosures to
be made in accordance with Rule 17 or Schedule Two paragraph (g) of
the AIM rules regarding Peter Grant.
Jill Amanda McGregor, age 54, holds or has held the following
directorships or partnerships in the past five years:
Current Directorships or Partnerships Previous Directorships or Partnerships
Touch Bionics Limited
Touch Bionics Inc.
Touch Bionics Gmbh
Touch Bionics Sarl
Touch EMAS Limited
Touch Bionics Canada Ltd
Jill currently holds no interest in the ordinary share capital,
or other securities, of LiDCO.
Save as disclosed above there are no additional disclosures to
be made in accordance with Rule 17 or Schedule Two paragraph (g) of
the AIM rules regarding Jill McGregor.
About LiDCO Group Plc (www.lidco.com)
LiDCO is a supplier of non-invasive and minimally invasive
hemodynamic equipment to hospitals used to monitor the amount of
blood flowing around the body and ensure that vital organs are
adequately oxygenated. LiDCO's products facilitate the application
of hemodynamic optimisation protocols for high risk patients in
both critical care units and in the operating theatre.
Increasingly clinical studies are showing that the optimisation
of patients' hemodynamic status in high risk patients produces
better outcomes and reduced hospital stay. LiDCO's computer-based
technology, developed at St Thomas' Hospital in London, has been
shown to significantly reduce morbidity and complications, length
of stay and overall costs associated with major surgery.
Key Products:
LiDCOunity: a hemodynamic monitor that combines the full suite
of LiDCO technology (non-invasive, minimally invasive and
calibrated technologies) into one platform. Designed to have the
flexibility to adapt to a patient's changing acuity, the product
enables clinicians to seamlessly transition between non-invasive,
minimally invasive and calibrated hemodynamic monitoring.
LiDCOplus: a computer-based platform monitor used in the
Intensive Care Unit for real-time continuous display of hemodynamic
parameters including cardiac output, oxygen delivery and
fluid-volume responsiveness (PPV% and SVV%).
LiDCOrapid: a cardiac output monitor designed specifically for
use in the operating theatre for fluid and drug management. The
monitor enables anaesthetists to receive accurate and immediate
feedback on the patient's fluid and hemodynamic status - a key
measure of overall well-being before, during and after surgery. The
LiDCOrapid provides:
-- early and rapid warning of hemodynamic change to aid choice
of therapeutic route: fluid or drug
-- quantification of hemodynamic response guidance on effective
delivery of fluids to ensure the right amount at the right time
The software incorporated into LiDCOrapid allows the LiDCOrapid
monitor to co-display Medtronic's level of consciousness parameter
('BIS(TM') )* and add the convenience of CNSystem's continuous
non-invasive blood pressure monitoring ('CNAP')**. This addresses a
growing requirement for non-invasive monitoring solutions that are
more comprehensive and can effectively replace multiple single
parameter monitors.
LiDCOview: an easy-to-use graphical display of historical
LiDCOplus and LiDCOrapid hemodynamic data.
*BIS(TM) and Bispectral Index are trademarks of Medtronic
registered in the US and foreign countries.
**CNAP(TM) is a trademark of CNSystems Medizintechnik AG.
LiDCO monitors use single-patient disposables (sensors or
smartcards) which provide an ongoing revenue stream.
LiDCO Distribution Network:
LiDCO sells directly to hospitals in the UK and USA and through
a network of specialty critical care and anaesthesia distributors
in the rest of the world.
LiDCO's headquarters are in London and its shares are traded on
AIM.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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