Appointment of Finance Director

RNS Number : 8488E

Microsaic Systems plc

15 April 2014

 



Microsaic Systems plc

("Microsaic" or the "Company")

Appointment of Andrew Darby as Finance Director

15 April 2014: Microsaic Systems plc (AIM: MSYS), the developer of miniaturised chip-based scientific instruments, is delighted to announce the appointment of Andrew Darby as Finance Director. Andrew will replace Malcolm Bateman who is stepping down from the Company and Board after eight years with the Company to focus on a portfolio of other business and charitable interests. Malcolm will continue as consultant to Microsaic for a short period to ensure an orderly transition.  Andrew is due to be appointed to the Board of Microsaic on 16 April 2014.

Andrew Darby, aged 51, has over 17 years of experience in senior finance, strategic and operational roles within quoted companies in the information technology sector. He joins Microsaic from Active Risk Group plc, a former AIM-listed company specialising in enterprise risk management software solutions, where he spent seven years as Chief Operations Officer and Chief Financial Officer until its successful sale to Sword Group SE in August 2013. Prior to joining Active Risk, Andrew held several senior finance and operational positions with Misys plc, a FTSE250 banking and capital markets software firm, most recently as Finance Director, Banking Division Business Units. Prior to Misys, Andrew was Financial Controller for Generali SpA, the global financial services firm. He qualified as a Chartered Accountant with Coopers & Lybrand (now PriceWaterhouseCoopers) in 1990 and graduated with an MA (Hons) in Classics from the University of Cambridge.

Commenting on the appointment, Colin Jump, Chief Executive of Microsaic Systems plc, said:

"I am delighted to welcome Andrew to the Company as our new Finance Director. Andrew brings valuable and relevant experience to Microsaic from many years working in senior positions at fast-growing companies that are leaders in their field. His experience with quoted companies will also be important as the Company grows and looks to enhance its relationships with investors and analysts. I am confident that Andrew will make a great contribution to Microsaic in the exciting years ahead. I would also like to thank Malcolm Bateman for his work and dedication to the Company over the last eight years and wish him well with his future career."

Andrew Darby added:

"I am excited to be joining Microsaic at this time in its development and to have the opportunity to help drive this innovative business forward. Microsaic has a unique proposition in the analytical instrumentation sector and is well positioned to capitalise on the potential of its revolutionary miniaturised mass-spec technology. I look forward to contributing to the translation of this potential into real value for our shareholders."

It is anticipated that the preliminary results for the year ended 31 December 2013 will be released on 30 April 2014.

The following information is required to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules for Companies:

Current Directorships:

None

Past Directorships in the last five years:

Active Risk Group plc

Active Risk Ltd

Active Risk Inc

Active Risk Pty Ltd

Line International Ltd

Contacts

Microsaic Systems Colin Jump, CEO	Via Citigate Dewe Rogerson
Numis Securities Limited Stuart Skinner (Nominated Adviser) James Serjeant (Broker)	[phone]
Citigate Dewe Rogerson (Financial PR) Mark Swallow, Malcolm Robertson, Chris Gardner	[phone]/2867/2995
Conscience Creative (Trade PR) Reita Smith	[phone]

About Microsaic Systems

Microsaic Systems develops and sells chip-based scientific instruments for the chemical identification of substances. The Company's products are based on the 'gold-standard' scientific technique of mass spectrometry.

Microsaic Systems has developed a miniaturised mass spectrometer based on its patented, chip-based technologies (ionchip^®, spraychip^® and vac-chip™), that is smaller, lighter, quieter, more energy efficient and cheaper to run than conventional mass spectrometer systems.

Mass spectrometry is used across many industry sectors, including government, energy, utilities, pharmaceutical, diagnostics and healthcare, environmental, food and drink, security and defence, and industrial chemicals - a combined market of $3 billion in 2012.

Microsaic Systems was established in 2001 by a team including founders from Imperial College London, and was admitted to AIM in April 2011 under the symbol MSYS.

www.microsaic.com

 

END

 

 

BOAGGUUUCUPCURA