21st Sep 2021 21:15
Summerway Capital PLC - company which invests in household and consumer goods sectors - Shakes up board as it changes investment policy. Chair Vin Murria resigns as company shifts away from technology sector investing towards healthcare and pharmaceutical sector, along with Non-Executive Directors Paul Gibson and Tony Morris.
"Murria has provided an irrevocable undertaking to support the proposed amendment to the investing policy, and pursuant to Murria's resignation, the warrant instrument entered into between the company and Murria will remain unexercised and lapse, and Murria's subsidiary incentive scheme B shares shall be bought back by the company at their original subscription value, along with 50,000 of Mr Morris' 175,000 subsidiary incentive scheme B shares on the same basis," company says.
Elizabeth Shanahan joins the board as a new independent non-executive director. Shanahan is currently a non-executive director of AIM-listed Inspiration Healthcare Group PLC and a former non-executive director of UDG Healthcare PLC.
Company adds: "Shanahan has significant experience in the healthcare sector and the directors believe her background and contacts will greatly assist the Company in assessing opportunities."
Conitnues: "The company is currently in discussions with an immediate opportunity in the healthcare and pharmaceutical sector which it would pursue, subject to Shareholders supporting the change in policy."
Shares suspended as potential transaction classed as a reverse takeover.
By Paul McGowan; [email protected]
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