REG - Ovoca Bio PLC - Directorate Change

Ovoca BioAnnouncement

15/07/2024 07:00

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RNS Number : 2941W  Ovoca Bio PLC  15 July 2024

 

Ovoca Bio PLC

15 July 2024

 

This announcement contains inside information

 

Ovoca Bio plc

 

("Ovoca" or the "Company")

 

Ovoca Bio Announces Management Change

 

Dublin, Ireland, 15 July 2024 - Ovoca Bio, a biopharmaceutical company with a
focus on women's health, announces the following change in management and
board composition. Kirill Golovanov has informed the Board of his intention to
resign from his role as Chief Executive and an Executive Director of the
Company, with effect from 1 August 2024. At the same time, Timothy McCutcheon
will become Chief Executive Officer and remain as a Director of the Company.

 

Mr. Golovanov stated: "It has been a pleasure to serve as Executive Director
of Ovoca for the past 12 years and it is with a heavy heart that I am leaving
the Company. However, with the end of the Company's efforts to develop
Orenetide, I believe now is the appropriate time for Ovoca to have new
leadership and change direction. I wish Mr. McCutcheon the best in his efforts
to re-position Ovoca  and I wish all the team at Ovoca the very best for the
future."

 

Mr. McCutcheon commented: "I would like to thank Mr. Golovanov for his long
service to the Company, and I know it was a difficult decision for him to
decide to step down. I am excited to take on the role of Chief Executive of
Ovoca and to work with my colleagues to deliver future value for shareholders,
both through realizing the value from our existing assets and also exploring
new opportunities where we can leverage our existing skills and knowledge. I
look forward to updating stakeholders on our progress in the coming months."

 

In addition to the management change, Mr. McCutcheon has acquired from Mr.
Golovanov his stake in Ovoca, totaling 19,506,203 ordinary shares.

 

Mr. McCutcheon is a capital markets professional and corporate manager with
over 25 years' business experience.  He has served as CEO and Director of
several public natural resource companies with assets in Canada, Chile,
Kyrgyzstan, Ghana, Mali, Russia, Slovakia and USA. Prior to his role as
company manager, he was an award winning equity analyst at a major brokerage
firm and founder of a boutique merchant bank specializing in the mining
sector. Mr. McCutcheon obtained his BA his MBA in finance from Columbia
University.

 

End

 

For further information:

 

Ovoca Bio plc

Kirill Golovanov (Chief Executive)

Tel +353 1 661 9819

info@ovocabio.com (mailto:info@ovocabio.com)

 

Davy (Nominated Adviser, Euronext Growth Listing Sponsor and Broker)

Ivan Murphy / Daragh O'Reilly

Tel: +353 1 679 6363

 

END

 

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