19th Oct 2016 17:47
19 October 2016 |
This announcement contains inside information
Quantum Pharma Plc
('Quantum', the 'Group' or the 'Company')
CEO appointment and Board Changes
Quantum Pharma Plc (AIM: QP.), the service-led niche pharmaceutical developer, manufacturer and supplier to the health and care sectors, announces the following changes and proposed changes to its board of directors (the 'Board').
Following a formal search process, and having taken into account the feedback of a number of Quantum's major shareholders who are fully supportive of the strategy to simplify and focus the Group, the Board has today appointed Chris Rigg to the position of Chief Executive Officer ("CEO") on a permanent basis. Chris was appointed to the Board as Chief Financial Officer ("CFO") in March 2016 and has been Acting CEO since 1 August 2016. The Board has commenced a formal search process for a new CFO but, in the interim, as well as permanent CEO, Chris will remain as CFO until a replacement for that role is appointed.
Quantum is also pleased to announce the appointments to the Board of Ian Johnson as non-executive Chairman; Christopher Mills as non-executive Director and Dr John Brown as Senior Independent non-executive Director. The Board has commenced a formal search process for a further non-executive Director. John Clarke and Sheila Kelly, non-executive Chairman and non-executive Director respectively, have resigned from their positions on the Board with immediate effect to focus on other Directorships and new business appointments.
Ian Johnson is an experienced director in the healthcare and life science sector. He was founder and CEO of Biotrace International plc until its sale to 3M in 2006 and is currently Executive Chairman of Bioquell PLC and non-executive Chairman of Cyprotex plc. Ian has also served on the boards of various public and private companies in strategic consultancy and business development capacities including: Celsis International, Evans Analytical Group, MyCelx Technologies Corporation and AOI Medical Inc. Ian is a chartered biologist and a member of the Royal Society of Biology and the Institute of Directors.
Christopher Mills is an experienced non-executive Director. He founded Harwood Capital Management Ltd in 2011, a successor from its former parent company J O Hambro Capital Management Ltd, which he co-founded in 1993. He is Chief Executive of North Atlantic Smaller Companies Investment Trust plc, a Director and Investment Manager of Oryx International Growth Fund Ltd and Chief Investment Officer of Harwood Capital LLP. He is also a non-executive Director of several AIM-listed companies. Christopher was a Director of Invesco MIM, where he was head of North American investments and venture capital and of Samuel Montagu International. Together, North Atlantic Smaller Companies Investment Trust PLC and Oryx International Growth Fund Limited are interested in 13,850,000 Ordinary Shares representing 11.08 per cent. of the entire issued share capital of the Company.
Dr John Brown is an experienced non-executive director who has extensive experience in the life sciences and healthcare sectors. He is Chairman of Kyowa Kirin International and the Cell and Gene Therapy Catapult and a Director of Electrical Geodesics Inc. His board experience includes his roles as Chairman of Touch Bionics Ltd, BTG plc, and Axis-Shield plc, and as a Director of Vectura Group plc, Cambridge Antibody plc and Acambis plc.
Chris Rigg, Quantum's CEO & CFO, said:
"I am delighted to be appointed as Quantum's CEO and would like to thank the Board and our major shareholders for their support. Whilst the Group has faced some challenges in the recent past, the focused and simplified strategy now in place has the potential to drive shareholder value and I look forward to working with Ian, Christopher, John and Quantum's senior management team to deliver this.
"On behalf of Quantum, I would also like to thank John Clarke and Sheila Kelly for their services since the Group's admission to AIM in 2014 and wish them well for the future."
The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies. Ian Roy Johnson, age 63 years, has been a director of the following companies during the five years preceding the date of this announcement:
Current directorships | Past directorships |
Biofortuna Limited | Celesis Group Limited |
Bioquell Plc | Finance Wales Plc |
Bioquell UK Limited | Lumora Limited |
Bioxyquell Limited | Mycelx Technologies Corporation |
Cyprotex plc | Ruskinn Life Sciences Limited |
Klenitise Limited | Toximent Limited |
Companies that went into administration and creditors lost money as a result of liquidation:
· Pure Options Solutions - Administrators appointed on 30 November 2010. The estimated deficiency to investors and creditors was £4.49 million.
Administration ongoing:
· Toximet Limited - Ian Johnson resigned on 30 April 2015 - Administrator appointed 13 November 2015.
The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies. John Robert Brown, age 61 years, has been a director of the following companies during the five years preceding the date of this announcement:
Current directorships | Past directorships |
BioCity Nottingham Ltd | Axis-Shield plc Touch Bionics Ltd |
Cell Therapy Catapult Ltd | BioIndustry Association |
Electrical Geodesic Inc | CXR Ltd |
ProStrakan Group Ltd | Mode Diagnostics Ltd |
Synpromics Ltd | Scottish LifeSciences Association |
Vectura Group plc | |
The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies. Christopher Harwood Bernard Mills, age 63 years, has been a director of the following companies during the five years preceding the date of this announcement:
Current directorships | Past directorships |
62 Pont Street (Freehold) Limited | Academic Research Ltd |
Agrisense Industrial Monitoring Limited | Alba Investment Properties Intermediate Holdings Limited |
Alba Investment Properties Holdings Limited | Baltimore Capital PLC (in liquidation) |
Alba Investment Properties Limited | Baltimore Technologies (Holdings) Limited |
Alternateport Limited | Baltimore Technologies (UK) Limited |
Assetco PLC | Bionostics Holdings Ltd |
B&G (Europe) Holding Limited | Bionostics Ltd |
B&G Equipment Co | CCH Advisers Ltd |
Bioquell PLC | Celsis Group Ltd |
Catalyst Media Group PLC | Celsis International Ltd |
Catalyst Media Holdings Limited | Darby Group Limited |
Consolidated Venture Finance Limited | Forefront Group Ltd |
Coventbridge Group Limited | GTL Resources Ltd |
Cross-Border Publishing (London) Limited | GTL Resources Overseas Investments Ltd |
Cyprotex PLC | H.Townsend & Sons (Builders) Limited |
EKF Diagnostics Holdings PLC | Hampton Land & Estates Limited |
GlobalOptions Group, Inc. | Hampton Trust PLC |
Goals Soccer Centres PLC | Harwood Capita LLP |
Growth Financial Services Limited | Highrix Limited |
Hampton Investment Properties Limited | Izodia Plc |
Harwood Capital Management Limited | J O Hambro Capital Management Ltd |
Harwood Capital Nominees Limited | Jarvis Porter (Property Holdings Ltd) |
Harwood Holdco Limited | Kelvinhaugh Student accommodation Limited |
Harwood Multi Manager Limited | M J Gleeson Ltd |
Harwood Real Estate Limited | Merchant Properties General Partner Ltd |
Harwood Wealth Management Group PLC | Merchant Properties Nominees Ltd |
Indoor Bowling Acquisitions Limited | Merchant Properties Two General Partner Ltd |
Indoor Bowling Equity Limited | Merchant Properties Two Nominee 1 Ltd |
IR Media Group Limited | Merchant Properties Two Nominee 2 Ltd |
Jaguar Holdings Limited | Mount Street Properties Limited |
Journey Group PLC | Nastor Investments Ltd |
MJ Gleeson PLC | Nationwide Accident Repair Services Ltd |
North Atlantic Smaller Companies Investment Trust PLC | Orthoproducts Ltd |
Oryx International Growth Fund Limited | Prime Focus London PLC |
Performance Chemicals Company | Progeny, Inc. |
Satellite Information Services (Holdings) Limited | Quarto Group Inc. |
Sherwood Holdings Limited | RGS(1) Ltd |
Source Bioscience Plc | Sinav Ltd |
Stratton Street (Anthony) Limited | Stratifer Ltd |
Stratton Street (Mouse No.1) Limited | Toftplan Property Ltd |
Sunlink Health Systems, Inc. | Valient Sports Holdings Ltd |
Team Rock Limited | W G Mitchell (2005) Ltd |
The Indoor Bowling Company | W G Mitchell (Charlotte Square) Ltd |
The Tagos Group | W G Mitchell (Fifteen) Ltd |
Tramworks Limited (in liquidation) | W G Mitchell (George Street) Ltd |
W G Mitchell (Seven) Ltd | |
W G Mitchell Enterprises Ltd | |
Winnfield Holding Corporation | |
In addition, Christopher Mills has been a director of the following companies which have been placed into liquidation or receivership/administration:
All creditors paid in full:
· Nationwide Security Group plc - Receivership completed 2 March 2005
· Tricor plc - resigned 3 February 2003 - Voluntary arrangement completed 2 April 2014
Companies that went into administration and creditors lost money as a result of liquidation:
· Valiant Sports Holdings Limited - Creditors' voluntary liquidator appointed on 2 April 2013. The estimated deficiency to investors and creditors was £2,667,085
· Jarvis Porter Group plc - Administration completed 28 August 2008 - a dividend of 3 pence per share was paid to unsecured creditors
· United Industries plc - resigned 28 October 2005 - Administration completed 26 January 2008. The estimated deficiency to investors and creditors was £48,142,869
· Versatile Group Limited - Administrative receiver appointed 3 September 1998 by Bank of Scotland who had charges and cross guarantees supporting a debt of £2.4 million. In addition, the group had estimated deficiencies as regards creditors of £0.6 million and total estimated deficiencies in excess of £0.7 million. Versatile Group Limited was struck off the register on 15 May 2001
Administration ongoing:
· W.G. Mitchell (2005) Limited - Christopher Mills resigned on 12 January 2015 - Administrator appointed 1 April 2009
· W.G. Mitchell (Charlotte Square) Limited - Christopher Mills resigned on 12 January 2015 - Administrator appointed 1 April 2009
· W.G. Mitchell (George Street) Limited - Christopher Mills resigned on 12 January 2015 - Administrator appointed 1 April 2009
· W.G. Mitchell (Enterprises) Limited - Christopher Mills resigned on 12 January 2015 - Administrator appointed 1 April 2009
· W.G. Mitchell (Fifteen) Limited - Christopher Mills resigned on 12 January 2015 - Administrator appointed 1 April 2009
· W.G. Mitchell (Seven) Limited - Christopher Mills resigned on 12 January 2015 - Administrator appointed 1 April 2009
There is no further information to be disclosed pursuant to Rule 17 or Schedule Two paragraph (g) of the AIM Rules for Companies.
- Ends -
For further information:
Quantum Pharma Plc | Tel: +44 (0) 1207 279 404 | ||
Chris Rigg, CEO & CFO Craig Swinhoe, Group Strategic Projects Director and Company Secretary | www.quantumpharmaplc.com | ||
Zeus Capital Limited (Nominated Adviser & Joint Broker) | Tel: +44 (0) 20 3829 5000 www.zeuscapital.co.uk | ||
Andrew Jones / Nick Cowles / Jamie Peel | |||
Dominic Wilson / Adam Pollock / John Goold | |||
N+1 Singer (Joint Broker) Aubrey Powell / James White / Sandy Ritchie Nick Owen / Brough Ransom
|
Tel: +44 (0) 20 7496 3000 www.n1singer.com
| ||
Media enquiries: | |||
Buchanan | |||
Henry Harrison-Topham / Sophie Cowles / Steph Watson | Tel: +44 (0) 20 7466 5000 | ||
quantumpharma@buchanan.uk.com | www.buchanan.uk.com | ||
Notes to Editors
Quantum Pharma Plc is a service-led, niche pharmaceutical developer, manufacturer and supplier to the retail pharmacy, pharmaceutical wholesaler, hospital, homecare and care home markets. Quantum Pharma operates through three divisions, offering a portfolio of innovative and complementary products and services.
Specials comprises four business units (Quantum Pharmaceutical, UL Medicines, NuPharm and Quantum Aseptics Services), which manufacture, procure and supply unlicensed medicines (specials) and special obtains. In response to a request from a prescriber for a bespoke medicine or special product to optimise patient treatment, the division manufactures, procures and supplies bespoke specials; batch made specials; aseptically prepared sterile intravenous medicines; imported medicines and special obtain products. With an expansive portfolio of products, Quantum is a trusted partner to the majority of large retail pharmacy chains in the UK, as well as pharmaceutical wholesalers, hospitals, independent pharmacies and dispensing doctors. The division offers an unrivalled and constantly expanding range of products. It has a customer-focused, service-driven business model, which provides shorter lead times than any of its competitors.
Niche Pharmaceuticals comprises three business units (Colonis, Lamda and PERN Consumer Products) which develop and commercialise niche pharmaceuticals. This division is a product development and commercialisation business focusing on taking niche drugs through the regulatory pathway to achieve regulated status (licensed product or medical device). The division uses the excellent visibility of trends in the UK pharmacy and hospital markets gained through our Specials and Medication Adherence divisions, to allow early identification of the market opportunity to take products from unlicensed (special) status to licensed status. The division has a growing portfolio and pipeline of products that fit this unlicensed to licensed pathway, as well as complementary generic, generic plus or medical devices intended to meet unmet patient needs across a number of therapeutic areas.
Medication Adherence comprises two business units (Biodose® and Biodose Services®) which provide products and services to enhance the likelihood of a patient adhering to a medication regime, patient-focused homecare services and services to pharmaceutical companies. It owns Biodose®, the only medication delivery system on the market that accommodates both liquid and solid doses. Biodose Connect™ takes patient safety and adherence to the next level by enabling remote monitoring of adherence to medication regimes. The division also operates a range of specialist patient-focused homecare services to the NHS, private clinics and pharmaceutical companies across the UK and provides the Group with exposure to the homecare and supported living sectors of the care pathway complementing the focus of the remainder of the Group.
For further information, please visit www.quantumpharmaplc.com.
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