Provexis, the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, is pleased to announce the appointment of Dr Niamh O’Kennedy as an Executive Director of the Company, and as Chief Scientific Officer, with immediate effect.
Niamh is a research chemist, specialising in the field of natural products chemistry, who has been working with Provexis since 2000. Niamh’s experience in isolating and characterising plant-derived compounds and understanding the roles these play in complex biological systems has been pivotal in the development of Provexis’ lead product, Fruitflow®, and the health claim for Fruitflow® which was adopted by the European Food Safety Authority (‘EFSA’).
In conjunction with Niamh’s appointment, Ian Ford’s role has been expanded to Chief Financial Officer and Chief Operating Officer and Dawson Buck’s role has changed from Executive Chairman to Non-executive Chairman. These changes, which are effective immediately, have taken place to reflect the revised board composition and roles of the directors, and they will result in a net reduction to the total cash remuneration payable to these three individuals.
The Company’s financial year ended on 31 March 2019 and the board expects to provide an update on trading before the end of the current quarter to 30 June 2019.
The following information is provided in accordance with rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies:
Dr Niamh Ann O’Kennedy BSc MSc PhD, an Irish national, is aged 45 and does not hold any directorships or partnerships currently and has not held any within the last five years. Niamh holds an honorary position at The University of Aberdeen.
Niamh holds options over 13,000,000 ordinary shares of 0.1p each, equivalent to 0.66 per cent. of the Company’s issued share capital.
Dawson Buck, Non-executive Chairman of Provexis, commented:
‘I am delighted that Niamh is joining the board as an executive director.
The Company remains well placed to maximise the numerous commercial opportunities which the Company and DSM have been pursuing for Fruitflow®, to include the Company’s planned collaboration with By-health in the vast Chinese market, and Niamh is expected to play an important role for the business as these opportunities are progressed.’