18th Mar 2009 11:54
18 March 2009
Oxeco Plc ("Oxeco "or "the Company")
Strategic Review and Directorate Change
Investment Strategy
At the time of the Company's admission to AIM in December 2006 the Board advised shareholders of their focus on the technology and science sectors. Since the acquisition of Oxray Limited ("Oxray") in June 2007, the Board have focused on seeking complementary acquisitions to Oxray in the molecular structure determination business.
The Board has reviewed a number of investment opportunities that are in areas complementary to the Oxray business although none were considered to offer sufficiently attractive prospects for shareholders. It now intends to revert to seeking opportunities within the general technology and science sectors.
The Board is reviewing its options in relation to the existing Oxray business and will keep shareholders appraised of the ongoing strategic review.
Directorate Change
Jussi Westergren, who joined the Company at the time of the Oxray acquisition, has today resigned as Chairman of Oxeco and the Company's Finance Director, Michael Bretherton, has been appointed to the role as replacement Chairman.
Enquiries:
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Michael Bretherton Oxeco plc www.oxecoplc.com
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+44 (0) 207099 7266 |
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Ray Zimmerman/Jonathan Evans Zimmerman Adams International Limited www.zimmint.com |
+44 (0) 207 060 1760 |
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