Source - RNS
RNS Number : 9944M
Quantum Pharma PLC
19 October 2016
 

 

 

 


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

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

[email protected]

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.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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