REG - Spectra Systems Spectra Systems-SPSC - Appointment of Chief Financial Officer

Spectra SystemsAnnouncement

30/05/2023 07:15

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RNS Number : 8942A  Spectra Systems Corporation  30 May 2023

Spectra Systems Corporation

30 May, 2023

 

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.

 

Spectra Systems Corporation

Appointment of Chief Financial Officer

Spectra Systems Corporation, a leader in machine-readable high speed banknote
authentication, brand protection technologies and gaming security software is
delighted to announce that it has agreed to appoint Edward Spies (age 56) as
Chief Financial Officer, upon the completion of due diligence by its nominated
adviser.

Edward Spies is an experienced accounting and finance professional with over
25 years of expertise in financial planning and analysis, mergers and
acquisitions, and business process improvement. He brings decades of
experience in the technology industry, having started his career at
PricewaterhouseCoopers, and worked in various finance leadership roles since
then. Recently, he served as CFO of Mearthane Products Corporation, a polymer
component manufacturer. Prior to that, he held positions as a Corporate
Controller and VP of Finance at several VC and PE backed portfolio companies.
He also helped build the CFO services practice for CFGI, and embarked on a
successful consulting career providing accounting and finance support for
start-up and publicly traded companies.

Mr. Spies has considerable expertise in manufacturing, cost and profit margin
analysis, and financial management. He earned his CPA earlier in his career
and holds a bachelor's degree from Clarkson University and an MBA/MS in
Accounting from Northeastern University.

Edward Spies has confirmed that there is no further information to be
disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules.

 

Dr. Nabil Lawandy, CEO of Spectra Systems, stated: "I am delighted to welcome
Ed to Spectra Systems and believe that his breadth of experience, particularly
in technology companies as well as mergers and acquisitions, will be of great
value to the company in its next phase of growth."

The person responsible for arranging the release of this announcement on
behalf of the Company is Dr. Nabil Lawandy, Chief Executive of the Company.

Enquiries:

 

 Spectra Systems Corporation                          Tel: +1 (0)401 274 4700

 Dr. Nabil Lawandy, Chief Executive Officer

 WH Ireland Limited (Nominated Adviser and Broker)    Tel: +44 (0)20 7220 1650

 Chris Fielding (Deputy Head of Corporate Finance)    Tel: +44 (0)20 3328 5665

 Andrew de Andrade (Executive, Corporate Finance)

 Allenby Capital Limited (Joint Broker)

 Nick Naylor/James Reeve (Corporate Finance)

 Amrit Nahal (Sales and Corporate Broking)

 

 

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