8th Jun 2016 14:24
LONDON (Alliance News) - Bioquell PLC Wednesday said Non-Executive Chairman Nigel Keen will retire later this week and will be replaced by Ian Johnson, who is the current non-executive chairman of fellow London-listed Cyprotex PLC.
Keen will retire on Friday when Bioquell holds its annual general meeting, when shareholders will also casts their votes concerning the appointment of Johnson to the board.
Johnson is the current non-executive chairman of Cyprotex and he formerly held that same role at Celsis International Group. He was previously a non-executive of MyCelx Technologies Corp.
"We have now posted the circular relating to the tender offer which will return to shareholders the cash we generated on the sale of TRaC Global Ltd last year - equivalent to GBP1 in cash per Bioquell share," said Keen.
"Now that the tender offer process is underway I have decided that it would be an appropriate time to retire from the board and I am delighted that Ian Johnson has agreed to become non-executive chairman of Bioquell," said Keen.
Bioquell shares were down 0.4% to 170.31 pence on Wednesday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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