TIDMITX

RNS Number : 2887R

Itaconix PLC

05 July 2022

For release on: 5 July 2022

Itaconix plc

("Itaconix" or the "Company")

Board Changes

Itaconix (AIM: ITX) (OTCQB: ITXXF), a leading innovator in plant-based specialty polymers used as essential ingredients in everyday consumer products, announces changes to the Board .

Dr. James Barber has stepped down as Chair and Non-Executive Director of the Board with immediate effect. Dr. Barber served as a Non-Executive Director of Itaconix plc since 2016 and Chair since 2018. He also served as a Director of Itaconix Corporation from 2012 to 2016.

Dr. Peter Nieuwenhuizen is appointed to the Board as a Non-Executive Director and Interim Chair with immediate effect. He is a Founding Partner of the European Circular Bioeconomy Fund ("ECBF"), a EUR300 million venture capital fund dedicated to the circular bioeconomy. He serves as Chair of the Green Chemistry and Commerce Council, as Board member of PeelPioneers B.V. and In Ovo Holding B.V., and as an advisor to Solugen LLC and to Cosun (Coöperatie Koninklijke Cosun U.A.). Prior to co-founding ECBF, Peter was CTO & Corporate Director RD&I & Sustainability for AkzoNobel Specialty Chemicals (now Nouryon B.V.) and CTO of Enerkem Inc. He earned his Ph.D. in Chemistry from Leiden University.

As a result, the Board now comprises Dr. Nieuwenhuizen (Non-Executive Interim Chairman) and John R. Shaw (Chief Executive Officer). The Company is actively working on further Board appointments, to include recruitment of an additional independent non executive director.

John R. Shaw, CEO, commented on Dr. James Barber:

"Jim has provided a decade of valuable direction and guidance as a director and later chair of the Company. His unique blend of business acumen, corporate leadership, and chemical expertise contributed greatly to the strategies for our technology platform, to the development of our current products and customer base, and to navigating the many twists and turns of a high-growth company. We greatly appreciate his years of service and his many contributions to Itaconix."

Commenting on Dr. Peter Nieuwenhuizen, John added:

"I am very pleased to welcome Peter to our Board. He is a passionate international leader in the technical and environmental aspects of sustainability, and has devoted much of his career to developing products and businesses for the Low-Carbon Economy. He also has a deep understanding of Itaconix, the value of our products, and the commercial potential for our technology platform through our years of working together on several major initiatives when he was CTO of AkzoNobel Specialty Chemicals."

Regulatory disclosures

INFORMATION REQUIRED UNDER RULE 17 AND SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES FOR COMPANIES ("AIM RULES")

Full name: Peter Jan Nieuwenhuizen

Age: 52

Shareholding in the Company: 200,000 shares

Current directorships and partnerships:

In Ovo Holding B.V.

PeelPioneers B.V.

Nuvae Beheer B.V.

Green Chemistry & Commerce Council (GC3) (not for profit organization, USA, non executive chairperson)

European Circular Bioeconomy Fund (ECBF)

Stichting Inzichts Meditatie (SIM) (not for profit foundation, chairperson)

Historic directorships and partnerships in previous 5 years:

Advanced Research Center Chemical Building Blocks Consortium (ARC CBBC)

There is no further information to be disclosed in relation to the director appointment pursuant to Rule 17 and Schedule 2, paragraph (g) of the AIM Rules.

- Ends -

For further information please contact:

 
Itaconix plc                                  +1 603 775 4400 
John R. Shaw / Laura Denner 
Belvedere Communications                      +44 (0) 20 3687 2756 
John West / Llew Angus 
finnCap                                       +44 (0) 20 7220 0500 
Ed Frisby / Abigail Kelly / Milesh Hindocha 
 (Corporate Finance) 
 Andrew Burdis / Sunila de Silva (ECM)

About Itaconix

Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company's current ingredients are enabling and leading new generations of products in detergents, hygiene, and hair care. Itaconix's contributions to the global low carbon economy are recognised by the London Stock Exchange's Green Economy Mark.

www.itaconix.com

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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July 05, 2022 02:00 ET (06:00 GMT)

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