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RNS Number : 8963O

Laird PLC

10 November 2016

Laird PLC

Board Changes

Laird PLC today announces the appointment of Wu Gang as a Non-Executive Director with effect from 1 January 2017. Wu Gang will also become a member of the Remuneration Committee.

Wu Gang grew up in China where he obtained a Bachelor of Arts degree from Fudan University in Shanghai. He also holds a Master of Arts degree from the School of Oriental and African Studies at the University of London and an MBA from INSEAD in France.

Wu Gang is Managing Director and Head of Corporate Finance for Europe at CITIC CLSA Securities based in London. CITIC CLSA is the international investment banking platform of CITIC Securities, a leading securities firm based in China. Wu Gang has close to thirty years of international banking experience in Europe and Asia. Between 2011 and 2014, he was Managing Director and Head of General Industrials and M&A at ICBC International based in Hong Kong. Prior to that, he was Managing Director and Co-Head of Global Industrials Group (Asia) at the Royal Bank of Scotland. He has also held a variety of positions at HSBC, Merrill Lynch and Goldman Sachs in the UK and Hong Kong. He started his banking career at Hill Samuel Bank in London in 1988.

Dr Martin Read, Chairman said: "We are delighted that Wu Gang will be joining the Laird Board. He has a strong financial background and a wealth of international experience having held senior positions with Chinese, American and British financial institutions in Hong Kong and London. Around 75% of Laird's workforce is based in Asia and Wu Gang's Asian background will further strengthen the diversity of thought and business experience on the Board."

In view of the fact that there have been several Director changes over the last eighteen months, the Board has asked Sir Christopher Hum, whose term was previously extended until 1 December 2016, to stay on for a further four months until the company's Annual General Meeting on 28 April 2017. The short extension is being made in the interest of continuity. Although Sir Christopher will have served ten years as a Director, the Board is satisfied that he remains of independent character and judgement. As a consequence, the number of Non-Executive Directors on the Board will be expanded temporarily from six to seven until the AGM in April 2017.

There are no further items requiring disclosure under paragraph 9.6.13 of the UKLA's Listing Rules.

This announcement contains inside information.

About Laird PLC:

Laird is a global technology company providing systems, components and solutions that protect electronics from electromagnetic interference and heat, and that enable connectivity in mission-critical wireless applications and antennae systems. Laird is a global leader in the field of innovative radio frequency ("RF") engineering.

 
 Enquiries: 
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 Lucie Harwood, VP       Reg Hoare       Jamie Ricketts 
  Director of Investor    Tim Rowntree    Ollie Hoare 
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November 10, 2016 08:44 ET (13:44 GMT)

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