Biome Technologies PLC Appointment of Non-Executive Director (7011A)

TIDMBIOM

RNS Number : 7011A

Biome Technologies PLC

25 May 2023

Biome Technologies plc

("Biome", the "Group" or the "Company")

Appointment of Non-Executive Director

Biome Technologies plc, a leading bioplastics and radio frequency technology business, is pleased to announce that, as indicated in the Chairman's Statement accompanying the Company's Report and Accounts for 2022 and in the announcement of the recent Convertible Loan Note fundraising, Martin Rushton-Turner has been appointed a Non-Executive Director of the Company and will join the Board with immediate effect.

Mr Rushton-Turner is, and has been, a significant investor in Biome since 2010 and currently holds 13.31 per cent of the voting rights in the Company and approximately 35 per cent of the Company's Convertible Loan Notes. He retired from Swiss Reinsurance Group ("Swiss Re") in 2014 and has since focused his attention and resources on a number of early-stage companies and investments where his roles have included being an adviser, chairman or director.

Mr Rushton-Turner worked at Swiss Re from 2001 to 2014, initially as Head of the Strategic Transactions Group which focused on transactions between Swiss Re and corporate and financial institutions, from 2008 to 2010 as Head of Legacy, the division formed to house and manage down the "bad bank" businesses of Swiss Re, and thereafter as Special Advisor to the Swiss Re Group CFO. Prior to Swiss Re, Mr Rushton-Turner was Head of the Debt Structuring Group at Greenwich NatWest, having joined NatWest in 1993.

Mr Rushton-Turner qualified as a chartered accountant at Coopers & Lybrand in 1990, as a Barrister in 1991 and as a New York attorney in 1992. He holds an LLB from University College London (UCL) and is an Honorary Fellow of UCL.

John Standen, Chairman, commented:

"We are delighted to be able to welcome Martin to our Board. He has been very supportive of Biome throughout his 12 years of association with us, both as a significant shareholder and through his regular interaction at results time with members of the Board. He has great insights into our sector and has enormous understanding of the complexities which can affect a growing business with innovative technology. We are looking forward to working with him more closely."

Regulatory Disclosures

In accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies, John Martin Rushton-Turner, aged 58, is, or has been during the last five years, a director or partner of the following companies/partnerships:

 
 Current directorships/partnerships   Past directorships/partnerships 
 Itero Technologies Limit             Good Film Productions Limited 
  Itero Development Limited            Good Film Productions (PK) Limited 
  Intelligent Power Generation         Daytime Productions Limited 
  Limited                              Croydon Gasification Limited 
  Particle Therapeutics Limited        JDMS Technologies Limited 
  Garsington Technologies Limited      IPG Transport Limited 
  Smart Diner Group Limited            Intelligent Power Gen LLP 
  VOH Limited                          CGC (Pool Lane) Limited 
  Sage & Time LLP                      The Clean Gas Company (UK) Limited 
  Inside Track Productions LLP         George Films Limited 
  Green Park Climate Change LLP 
                                     ------------------------------------

Martin Rushton-Turner holds 500,000 Ordinary Shares in the Company, which represents 13.31 per cent of the voting rights in the Company. Martin Rushton-Turner is also interested in GBP300,000 of Convertible Loan Notes in the Company, details of which can be found in the Company's announcement dated 31 March 2023.

-Ends-

 
 
   For further information please contact: 
 Biome Technologies plc 
 John Standen, Chairman 
  Donna Simpson-Strange, Company Secretary 
  info@biometechnologiesplc.co.uk 
  www.biometechnologiesplc.com                 Tel: +44 (0) 2380 
                                               867 100 
 
   Allenby Capital 
 David Hart/Alex Brearley (Nominated Adviser) 
  Kelly Gardiner (Sales and Corporate Broking) 
 www.allenbycapital.com                      Tel: +44 (0) 20 3328 
                                              5656

About Biome

Biome Technologies plc is an AIM listed, growth-orientated, commercially driven technology group. Our strategy is founded on building market-leading positions based on patented technology and serving international customers in valuable market sectors. We have chosen to do this by developing products in application areas where value-added pricing can be justified and which are not reliant on government legislation. These products are driven by customer requirements and are compatible with existing manufacturing processes. They are market rather than technology-led.

The Group comprises two divisions, Biome Bioplastics Limited ("Bioplastic") and Stanelco RF Technologies Limited ("RF Technologies").

Biome Bioplastics is a leading developer of highly-functional, bio-based and biodegradable plastics. The company's mission is to produce bioplastics that challenge the dominance of oil-based polymers.

Stanelco RF Technologies designs, builds and services advanced radio frequency (RF) systems. Dielectric and induction heating products are at the core of a product offering that ranges from portable sealing devices to large furnaces for the fibre optics markets.

www.biometechnologiesplc.com www.biomebioplastics.com and www.thinkbioplastic.com www.stanelcorftechnologies.com

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END

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May 25, 2023 09:57 ET (13:57 GMT)

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