Strategic Board Re-Organisation

20 March 2014

PURE WAFER PLC

("Pure Wafer" or "the Company")

Board changes

Strategic board re-organisation to maximise growth opportunities and drive shareholder value

Pure Wafer plc, the provider of high quality silicon wafer reclaim services for many of the world's leading semiconductor manufacturers, today announces a strategic re-organisation of its board of directors.

Following a transformational and highly successful 18 month period in which Pure Wafer has consolidated its position as one of the world's leading wafer reclaim companies, restructured its balance sheet, moved back into pre-tax profit and very recently announced the proposed payment of a maiden final dividend to shareholders, the board of Pure Wafer is confident that the business has strong foundations and a platform on which to take the Company forward.

The board also recognises the need to put in place a successful strategic plan, in order to maximise the opportunities now available to it for the next phase of the Company's growth. Following a comprehensive review, including discussions with key shareholders, the board announces the following changes which have been driven by the board's determination to move the business forward in a planned and structured manner:

· Due to a number of other business commitments, Stephen Boyd is to step down as non-executive chairman. The board is delighted to confirm that Stephen will remain on the board as a non-executive director.

· Peter Harrington will relinquish his current role as chief executive and take up the position of non-executive chairman. As chairman Peter will lead the board in formulating a strategy which will be focussed on ensuring that Pure Wafer continues its growth trajectory and maximises total returns for all shareholders.

· Richard Howells will take on the role of chief executive. Richard has been chief financial officer for nearly three years during which time the key achievements of a substantial strengthening of the Company's capital base, a return to pre-tax profitability and a major turnaround in the Group's cash position have all been successfully delivered.

It is expected that the above board changes will become effective on 1st July 2014 to coincide with the commencement of a new financial year and to allow time for a new chief financial officer to be appointed.

Commenting on the re-organisation, Peter Harrington said: 

"On behalf of the whole board I would like to thank Stephen for his contribution and guidance in leading Pure Wafer through some challenging periods for the business and particularly during our recent bank negotiations which were successfully concluded and which have been fundamental in moving the Company into a position of financial security.

"I am very much looking forward to leading the board and overseeing the implementation of a strategic plan that will ensure the continued success and growth of Pure Wafer and one which will maximise shareholder value and returns."