Microsaic Systems plc (AIM: MSYS), the developer of chip-based mass spectrometry (“MS”) instruments designed to improve the efficiency of pharmaceutical R&D, is pleased to announce the appointment of Peter Grant MA (Oxon.), FCA to the position of Non-Executive Chairman, with effect from January 1, 2018.

Peter comes from a background in pharmaceuticals, electronics, engineering and financial services, where he has a successful track record of commercialising technology, high growth, turnarounds, working capital reductions and mergers and acquisitions. His skills and experience are expected to be particularly relevant to Microsaic as it progresses into the next stages of development.

Mr Grant has had an executive career spanning 40 years, nearly half at listed company board level, as CEO/CFO, including both London main market (up to FTSE 250) and AIM. His executive career included CEO of Skyepharma PLC, which, during his tenure, was transformed onto a strong growth path, CFO of Skyepharma PLC, Group Finance Director at Eurodis Electron PLC, Chief Financial Officer at WorldPay Group plc, Group Chief Executive at Molins PLC and Finance Director at Molins PLC. Prior to this he held a variety of senior commercial, financial and general management roles in the General Electric Company PLC group of companies.

Peter will chair the Finance and Audit Committee, and be a member of the Remuneration Committee of the Company.

Peter is Chairman of LiDCO Group Plc, Non-Executive Director and Chair of the Audit and Risk Committee of Abzena plc, and a Non-Executive Director of Labatec Pharma SA.

Eric Yeatman will step down as Interim Chairman of the Board with effect from 1 January 2018, and will remain a Non-Executive Director, Chairman of the Remuneration Committee, and member of the Finance and Audit Committee.

Glenn Tracey, CEO of Microsaic Systems plc, commented:
“We are delighted to welcome someone of Peter’s calibre to the board as Chairman. We look forward to benefitting from the breadth of Peter’s business experience and industry knowledge. I would like to take this opportunity to thank Eric Yeatman for acting as Interim Chairman since 31 January 2017.”

Peter Grant commented:
“I am looking forward to joining such an innovative company and working with Glenn and the rest of the team to achieve Microsaic’s potential. We will ensure that we have the right mix of skills and experience needed, have simple and transparent structures and importantly that we put our innovation and clients first.”

This announcement is released by Microsaic Systems plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (“MAR”), encompassing information relating to the board change described herein, and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Glenn Tracey, CEO.

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