23 July 2013
EKF Diagnostics Holdings plc
("EKF" or "the Company")
Senior management update
EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care, central laboratory and molecular diagnostics business, announces that it has made a number of structural changes to the senior management to facilitate the continued growth of the Company.
Richard Evans, Finance Director, will be promoted to Chief Operating Officer, and continues as a Board Director. His new role reflects the de facto responsibility he has assumed for operational issues and his success in driving operational efficiencies across the Company.
Paul Foulger, Company Secretary, will join the Board and take on the role of Interim Finance Director with immediate effect and will do so until a new full-time Finance Director is recruited. Paul previously held the role of Finance Director for EKF up until September 2011 and has an in-depth understanding of the Company. The process of recruitment for a new Finance Director has begun and an update will be provided in due course. Additional disclosures regarding Paul's appointment to the Board are set out at the end of this announcement.
Dr. David Corr, Head of Research and Development at EKF, has been appointed as Chief Technology Officer, a non-Board position. David has experience in commercialising new technologies across a number of markets, from designing and scaling the manufacturing of products to the organisation of the supply chain and the provision of products and services through direct sales and licensing.
Commenting, Julian Baines, CEO of EKF Diagnostics Holdings plc, said:
"The appointment of Richard as Chief Operating Officer is a natural move given his strong operational understanding of the business and he has already demonstrated his ability to deliver value to shareholders through significant operational improvements across the Company. Paul Foulger with his past experience as Finance Director of the Company is perfectly suited to fulfil the role of Interim Finance Director.
"David's appointment is an important addition to the EKF Senior Management team and his experience of developing products for commercial success will be vital as we continue to expand our product portfolio."
Enquiries:
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EKF Diagnostics Holdings plc |
Tel: 029 2071 0570 |
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David Evans, Executive Chairman |
Mob: 07740 084 452 |
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Julian Baines, CEO |
Mob: 07788 420 859 |
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Canaccord Genuity Limited |
Tel: 020 7523 8000 |
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Lucy Tilley / Henry Fitzgerald-O'Connor / Dr Julian Feneley |
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Walbrook PR Limited |
Tel: 020 7933 8780 or ekf@walbrookpr.com |
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Paul McManus |
Mob: 07980 541 893 |
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Paul Cornelius |
Mob: 07866 384 707 |
Additional Information:
Paul Andrew Peter Foulger, aged 43, beneficially holds 3,410,018 shares (including those shares held by his partner) in the Company, and other than as set out below there is no further information to be disclosed under schedule 2(g) and Rule 17 of the AIM Rules in respect of Mr Foulger's appointment today as a Director of the Company.
Paul is a director / partner or has been a director / partner of the following companies / partnerships during the previous five years:
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Current directorships/partnerships
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Director/Partner in the last 5 years |
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Alan Bailey (Studios) Limited Autoclenz Limited Arcis Biotechnology Holdings Limited Arcis Biotechnology Limited BCOMP 428 Limited BCOMP 429 Limited Boldwood Limited Diablo Consulting Limited Hansard Corporate Limited Palco Management Limited Venn Life Sciences Holdings plc Wilton International Marketing Limited |
Armscote Investment Company plc BCOMP 415 Limited (dissolved 7 February 2012) BCOMP 416 Limited Biolustre Limited Chalton Consulting Limited (dissolved 28 August 2012) EKF Diagnostics Holdings plc Emotion Fitness Limited Hansard Group Limited (dissolved 1 December 2009) Hub Capital Partners Limited International Brand Licensing AG Orogen Gold plc Porta Communications plc Sandford Limited (dissolved 20 August 2008) TSE Brands Limited (dissolved 20 January 2009) TSE Learning Limited (dissolved 26 August 2008) Wilton International Consulting Limited Wilton International Management Group Limited (dissolved 1 December 2009)
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About EKF Diagnostics Holdings plc
EKF Diagnostics Holdings plc was formed in July 2010 following the acquisition of EKF-diagnostic GmbH for €14.32m and refocused its strategy to one of building a substantial point of care diagnostics business. As part of this strategy, the Group has integrated three further acquisitions, Quotient Diagnostics Limited (acquired in October 2010 for a maximum of £5.41m), Argutus Medical Limited (acquired in December 2010 for £2.18m) and Stanbio Laboratory L.P. (acquired in June 2011 for a maximum of US$25.5m).
The Company, with its head office in Cardiff and operations in London, Germany, Poland, Russia, Ireland and the US, is a leading diagnostics business, focused on the development, production and distribution of chemical reagents and analysers for the testing of Glucose, Lactate, Haemoglobin, Haematocrit and HbA1c.
In May 2011 EKF entered into a distribution agreement with Alere Inc ("Alere"), a global diagnostics company, under which Alere was appointed the exclusive distributor of EKF's CLIA waived Hemo Control device and cuvettes in the US, Canada and United Kingdom. The device is distributed in the US under the name HemoPoint H2.
On the 4 March 2013, EKF announced the establishment of EKF Molecular Diagnostics Ltd to offer innovative products with the potential to change current DNA extraction and detection practices, enabling EKF to address the fast growing companion diagnostics market.
For more information please visit the website: www.ekfdiagnostics.com