22nd Oct 2019 15:56
(Alliance News) - Ross Group PLC on Tuesday said it has appointed Robin Rogers, the chair of its scientific advisory board, to the company board as a non-executive director.
Shares in Ross were up 6.7% at 2.40 pence in London on Tuesday afternoon.
Ross announced the all-share acquisition of chitin extraction company Archipelago Aquaculture Group Ltd in late September from Global Blue technologies Inc, issuing 17.9 million shares initially and another 26.7 million shares in addition. The total price is to be around GBP446,000.
At that time, Global Blue director Victoria White joined Ross. However, Rogers will now replace White on the Ross board.
Archipelago Aquaculture's business involves the production of chitin, a bio-polymer, from the exoskeletons of shrimp. It also genetically enhances colossal shrimp to improve the grade of the chitin produced and has supply chain services which monitor and manages aquaculture and chitin projects worldwide.
Ross Chair Barry Richart Pettitt said: "We are very honoured to have Professor Rogers join our board and look forward to having him help us progress our development of Chitin into mass production through his pioneering and licensed innovation of using ionic liquid in an environmentally green method of extracting Chitin from crustacean exoskeleton shells. We welcome his experience and expertise."
By Anna Farley; [email protected]
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