REG - Malin Corp PLC - Board Changes

MalinAnnouncement

16/07/2018 10:25

RNS Number : 7411U
Malin Corporation PLC
16 July 2018
 


THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF THE EU MARKET ABUSE REGULATION 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
MALIN CORPORATION PLC
 
("MALIN" OR "THE COMPANY")
 
Malin appoints new Chairman and two new Non-Executive Directors
 
Dublin, 16 July 2018: Malin Corporation plc (ISE: MLC), the Irish-based, global life sciences company, today appointed Ian Curley as Chairman, effective immediately, to continue the focus on developing Malin's extensive portfolio of assets and achieving the greatest level of shareholder value in the medium term. Malin also appointed widely-experienced healthcare executives Jean-Michel Cosséry and Rudy Mareel as Non-Executive Directors.
Each of Owen Hughes, Bob Ingram, Darragh Lyons, who will continue in his current role as Chief Financial Officer, Kieran McGowan and Donal O'Connor, will step down from the Malin board with immediate effect.  Dr Adrian Howd will continue to serve as Malin's Chief Executive Officer and as a member of the board of directors.  Liam Daniel will continue to serve as Lead Independent Non-Executive Director.
Ian Curley has had a long career in business and was most recently the Chief Executive Officer of Ardagh Group S.A., which is listed on the NYSE. He previously served as Chief Financial Officer of Smurfit Kappa Group plc, a FTSE 100 company.
Dr. Jean-Michel Cosséry was Vice President, North American Oncology, at Eli Lilly and Company (NYSE listed) and someone with global leadership experience in healthcare. Rudy Mareel is currently CEO of Polyganics, a privately held medical technology company, and a seasoned executive with in-depth understanding of the global healthcare market.
Donal O'Connor, the outgoing chairman of Malin said: "as advised in my Chairman's Letter dated 14 March 2018, the Board has been working to identify and appoint at least two new Non-Executive Directors before our 2018 AGM. Following a period of engagement with certain shareholders, five of the current directors are stepping down and, three new Non-Executive Directors are today being appointed to the Board.  I wish Ian, Jean-Michel and Rudy every success in their new roles.  Ian has the ideal skills and expertise to lead the board of Malin and to deliver on our high-quality portfolio of investments and I look forward to supporting him in a seamless transition to his new role." 
Ian Curley, incoming Chairman of Malin, commented:  "I would like to thank Bob, Kieran, Owen, and Donal for their significant contributions and commitment to the Company.  In particular, I would like to acknowledge Donal who has agreed to make himself available to me and the Board in this time of Board transition. I am delighted to take up this position as I believe Malin has a unique opportunity to create extensive shareholder value by applying our capital and expertise to our investee companies. I will be totally focused on translating this potential into value for our shareholders and on closing the gap between the intrinsic value of our assets and our share price. I and the Board look forward to working with the management team in the coming years to deliver on these goals."
The Board will undertake an extensive review of the Company's portfolio and development strategy with a view to updating shareholders at its upcoming AGM in September, followed by a fuller presentation of the Company's outlook and vision at a Capital Markets Day in Q4 2018, details of which will be announced in due course.
Regulatory disclosures
Other than as set out in the Schedule hereto, there are no other matters required to be disclosed pursuant to paragraph (g) of Schedule Two to the ESM Rules for Companies as regards the appointments of Messrs. Curley, Cosséry or Mareel.
 
ENDS
 
For further information, please contact:
 
Malin Corporation plc
Adrian Howd, Chief Executive Officer
Tel: +353 (0)1 9015700
 
Powerscourt Group (Media Adviser)
Rory Godson / Jack Hickey
Tel: +353 83 4488339
 
Davy Corporate Finance (ESM Adviser)
Brian Garrahy / Daragh O'Reilly
Tel: +353 (0)1 679 6363
 




 
Schedule
Regulatory Disclosures



Mr. Ian Curley (56)
 




Current Directorships
 


Directorships within the past five years




Midcap Finco Intermediate Holdings Limited


Midcap Financial Holdings (Ireland) Limited




Midcap Funding I (Ireland) Limited


Ardagh Packaging International Services Limited




Midcap Finco Holdings Limited


Ardagh Packaging Holdings Limited




Midcap Finco Designated Activity Company


Smurfit Kappa Leasing Unlimited Company








Smurfit Kappa Ireland Limited








Smurfit Kappa Packaging Limited








Smurfit Investments (Ireland) Limited








Smurfit Kappa Group Pension Trustees Limited








Iona Print Limited








Smurfit International Designated Activity Company








Belgray Holdings Unlimited Company








Smurfit Kappa Services Limited








Smurfit Securities Limited








Smurfit Kappa Treasury Unlimited Company








Smurfit Kappa Ireland Pension Trustees Limited








Smurfit Kappa Treasury Funding Designated Activity Company








Smurfit Kappa Corporation Designated Activity Company








Smurfit Kappa Funding Designated Activity Company








Smurfit Kappa Acquisitions Unlimited Company








Smurfit Kappa Holdings Limited








Smurfit Kappa Investments Limited








Smurfit Kappa Group Public Limited Company








Holy Child Killiney School Trust








Midcap Funding VI (Ireland) Limited








Midcap Financial Services Ireland Limited








Midcap Funding IV (Ireland) Limited








Midcap Financial (Ireland) Limited








Ardagh Packaging Group Limited








Ardagh Packaging Group Holdings Limited








Ardagh Glass Finance Public Limited Company








Ardagh Packaging Services Limited








Ardagh Packaging Finance Public Limited Company








Midcap Funding III (Ireland) Limited








Midcap Funding V (Ireland) Limited



 
 
 
 



Dr. Jean-Michel Cosséry (59)
 




Current Directorships
 


Directorships within the past five years








The Association of the British Pharmaceutical Industry








Lilly Resources Limited








Greenfield Pharmaceuticals Limited








Eli Lilly Leasing Limited








Eli Lilly And Company Limited








Lilly Property Limited








Dista Products Limited








Eli Lilly (Basingstoke) Limited








Eli Lilly Group Limited








Eli Lilly Property Limited








Lilly Research Centre Limited








Lilly Industries Limited








Eli Lilly Resources Limited













 



Mr. Rudy Mareel (54)
 




Current Directorships
 


Directorships within the past five years




Nutrileads Therapeutics B.V.


Orca Therapeutics B.V.




Synvolux Therapeutics B.V.


Medizorg B.V.




Medichem S.A.








Polyganics B.V.








VitalNext B.V.








Organ Assist B.V.








 







 




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END
 
 
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