REG - Deepverge PLC - Directorate and Management Changes

DeepvergeAnnouncement

07/11/2022 07:00

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RNS Number : 4539F  Deepverge PLC  07 November 2022

 

 

7 November 2022

 

DeepVerge PLC

 

("DeepVerge" or "Company")

 

Board and Management changes

 

DeepVerge (AIM: DVRG), announces that further to the announcements of 25
October 2022 and 3 November 2022, Gerard Brandon, Executive Director with
responsibility for the Modern Water Division, has resigned and will leave the
Company with immediate effect to enable him to devote more time to his other
business commitments.

Gerry joined the Company in August 2018 and has led the transformation of the
business from a purely non-animal-testing, skin care and cosmetics business to
an environmental and life science group of companies that develops and applies
AI and IoT technology to analytical instruments for the analysis and
identification of bacteria, virus and toxins, doubling turnover every year
from £0.27m in 2018 to £9.3m in 2021, with a forecast of £18m this year.

The Company is pleased to announce the appointment of Paul Ryan as General
Manager of the Modern Water division reporting directly to Fionan Murray. Paul
is currently the Company's Chief Business Development Officer and has played a
key role in transitioning Modern Water to a solutions business. He has a
background in business development in emerging markets and is an experienced
senior executive who has built 'tier one' distribution channels globally for
over 20 years by developing relationships with utilities, national and
municipal governments. He understands equipment, software and AI, and has
played a leadership role in leveraging the Group's skills in instrumentation,
software and data to create big ticket smart solutions that have been and are
being installed and referenced in Modern Water's markets. His
relationships with our suppliers, partners and customers make Paul ideally
qualified for his new role.

In parallel to the above management changes, the Company is progressing with
the recruitment of a new CEO and CFO and the addition of a further independent
Non-Executive Director to ensure that the Company has the full set of skills
necessary to take the business forward and return to full compliance with the
appropriate corporate governance standards.

Dr Nigel Burton, Interim Chief Executive, commented: "The Company and Board
welcome Paul Ryan to his new role, and are grateful for the significant
contribution that Gerry has made to the development of the Company since 2018.
We wish him well in his future endeavours."

For further information, please contact:

Enquiries:

 

 DeepVerge plc                          Nigel Burton,             +44 7785 234447

                                        Interim Chief Executive

 SPARK Advisory Partners Limited        Neil Baldwin              +44 (0) 113 370 8974

 (Nominated Adviser)

 Turner Pope Investments (TPI) Limited  Andy Thacker/James Pope   +44 (0) 20 3657 0050

 (Broker)

 

 

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