Directorate Change
27 Mayo 2003 - 2:30AM
UK Regulatory
RNS Number:5125L
Provalis PLC
27 May 2003
For Immediate Release 27 May 2003
PROVALIS PLC
Provalis Appoints New Group Finance Director
Provalis plc (LSE: PRO; NASDAQ: PVLS), the Medical Diagnostics and
Pharmaceuticals Group, today announces the appointment of Peter Bream as its new
Group Finance Director. Mr Bream, aged 36, will join the Board of Provalis plc
as an executive director with effect from 1st July 2003.
Peter joins Provalis following 6 years at API Group plc, a specialised packaging
group with turnover of #180m, latterly as Finance Director for the Group's
largest division helping to lead strategic initiatives in Europe, the USA, and
China.
Following a degree in engineering, Peter trained with Coopers & Lybrand Deloitte
(now PWC) spending most of his time in management consultancy and corporate
finance projects. After qualification in 1991 Peter went on to Esso UK,
undertaking financial accounting, management accounting and strategic planning
roles before joining Gestetner Group plc as Group Accountant and subsequently
API Group plc.
Commenting on the appointment, Phil Gould, Chief Executive Officer of Provalis
said "I am delighted to welcome Peter to the Provalis team. Peter's commercial,
corporate finance and strategic development experience will be important as
Provalis develops its businesses of Pharmaceutical and Medical Diagnostics in
global markets".
Peter Bream has been a Director of the following companies within the last five
years:
Former directorships (and year of resignation):
API Foils Limited 2002
There are no further matters to be disclosed in accordance with paragraph 16.4
of the Listing Rules of the UK Listing Authority.
END
Provalis' Internet Website ; http://www.provalis.com
"Safe Harbor" Statement under the US Private Securities Litigation Reform Act of
1995: Statements in this announcement that relate to future plans, expectations,
events, performances and the like are forward-looking statements as defined in
the US Private Securities Litigation Reform Act of 1995. Actual results of
events could differ materially from those described in the forward-looking
statements due to a variety of factors. Such factors include, among others: the
rate at which operating losses are incurred; the rate of net cash utilisation
within the Group and, hence, the Group's possible need for additional capital in
the short, medium and/or long term; the execution of development, licensing,
research, manufacturing and other collaboration agreements with third parties;
the progress of the Group's continuing research and development activities;
uncertainties related to future trial results and the viability of the Group's
products, which are at various stages of development; the generation of
sufficient operating cash flow by the Group's healthcare and medical diagnostics
divisions to finance the ongoing development of these businesses as well as the
Group's research and development activities; the impact of future laws,
regulations and policies; availability and level of reimbursement for the
Group's products from government health administration authorities or other
third-party payors; the Group's intellectual property position and the success
of patent applications for its products and technologies; stock market trends in
the Group's sector; the Group's dependence on key personnel; general business
and economic conditions; and other factors beyond the Group's control that may
cause the Group's available capital resources to be used more quickly than
expected. These and other factors that could affect the Company's future results
are more fully described in its filings with the US Securities and Exchange
Commission, in particular the latest 20-F filing, copies of which are available
from the Company Secretary at the Company's registered address.
For further information:-
Dr Phil Gould, Provalis plc, Tel: 01244 833463
Lisa Baderoon, Buchanan Communications, Tel: 020 7466 5000
Notes to Editors
Provalis plc (LSE:PRO and NASDAQ:PVLS) is a pharmaceutical company with two
operating divisions:-
* Medical Diagnostics - develops and sells to world markets
medical diagnostic products for chronic disease management. The division's
principle products are Glycosal(R) and Osteosal(R) in the areas of diabetes
and osteoporosis respectively.
* Healthcare - sells and markets its own, and third party, branded, prescription
medicines in the UK to GPs and hospitals through its own regionally managed
sales force. The division's principle product is Diclomax(R), a medicine for
use in the treatment of musculo-skeletal disorders, and it also
sells products in the areas of gastroenterology, osteoporosis, migraine and
dermatology.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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