REG - Itaconix PLC - Directorate Change

ItaconixAnnouncement

05/07/2022 07:00

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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 €300 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 (http://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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