REG - Venture Life Group - Board Changes

Venture LifeAnnouncement

04/02/2025 07:15

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RNS Number : 7477V  Venture Life Group PLC  04 February 2025

4(th) February 2024

 

 

VENTURE LIFE GROUP PLC

("Venture Life", "VLG" or the "Company")

 

Board changes

 

Venture Life (AIM: VLG), a leader in developing, manufacturing and
commercialising products for the international self-care market,  announces
some upcoming changes to the Board.

 

The recent acquisition of Health & Her Limited in November 2024 has
increased VLG's presence in the vitamins and minerals space. Mr Paul McGreevy,
Non-Exec Chair of the Company has identified that as this business segment of
VLG aggressively grows, it presents a potential conflict of interest with his
current position as CEO of Revive Active Limited, an Eire based vitamins and
minerals business, which operates in similar segments. As a result of this
potential future conflict of interests, and as part of our robust succession
plans, Mr McGreevy has indicated his intention to step down from the Board of
VLG as both Chair and non-executive Director at the time of the announcement
of the Company's annual results for the year ended 31(st) December 2024, which
is expected to be in late April 2025. Mr Mark Adams, who has been a
non-executive director of the Company since 2022, has accepted the invitation
from the Board to take over as Chair of the Board at that time.

 

A process has begun to identify and appoint a replacement non-executive
director who will also take the position of Chair of the Audit Committee, that
will be vacated by Mr Adams when he becomes Chair.  A further announcement in
this respect will be made in due course.

 

The Board wishes to extend its deepest thanks to Mr McGreevy for all his hard
work, insight, diligence and support of the business since joining us in 2022.
His work as Chair of the Board has facilitated the continued growth of the
business and improvement of its operational efficiency, as well as of the
effectiveness and operation of the Board.

 

 

Jerry Randall, CEO of Venture Life Group plc commented: "I will be very sorry
to lose Paul from the Board as he has been such a positive influence and
support for VLG since he joined, as well as an exceptional mentor for me. I am
sure the Board and everyone at VLG will join me in thanking Paul for all he
has done for us and wishing him well for his future endeavours"

 

Paul McGreevy, Chair of Venture Life Group plc commented: "My confidence in
the future of VLG has never been higher with so many exciting value creating
initiatives commencing. It saddens me to leave the Board at this time due to
the impending conflict of interests, but I have absolute confidence in Mark
and the rest of the Board to accelerate our growth. I will be retained as an
adviser going forward for aspects of the business that avoid any conflict of
interests."

 

 

For further information, please contact:

 

 Venture Life Group PLC                                    +44 (0) 1344 578004
 Jerry Randall, Chief Executive Officer

 Daniel Wells, Chief Financial Officer

 Cavendish Capital Markets Limited (Nomad and Broker)      +44 (0) 20 7397 8900

 Stephen Keys / Camilla Hume (Corporate Finance)

 Michael Johnson (Sales)

About Venture Life (www.venture-life.com (https://www.venture-life.com/) )

 

Venture Life is an international consumer self-care company focused on
developing, manufacturing and commercialising products for the global
self-care market. With operations in the UK, Italy, The
Netherlands and Sweden, the Group's product portfolio includes Balance Activ
in the area of women's intimate healthcare, Earol® supporting ENT care, Lift
and Glucogel product ranges for energy and glucose management and
hypoglycaemia, the Health and Her product range supporting the hormonal
lifecycle, Gelclair and Pomi-T for oncology support, the UltraDEX and Dentyl
oral care product ranges, products for fungal infections and proctology, and
dermo-cosmetics for addressing the signs of ageing.

 

The products, which are typically recommended by pharmacists or healthcare
practitioners, are available primarily through pharmacies and grocery
multiples. In the UK and The Netherlands these are supplied direct by the
Company to retailers, elsewhere they are supplied by the Group's international
distribution partners.

 

Through its two Development & Manufacturing operations in Italy and
Sweden, the Group also provides development and manufacturing services to
companies in the medical devices and cosmetic sectors.

 

 

 

 

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