Appointment of CFO
30 November 2011
Instem Life Science Systems plc
("Instem" or the "Company")
Appointment of CFO
Instem Life Science Systems plc (AIM: INS.L), a leading provider of IT applications to the global early development healthcare market,is pleased to announce that Nigel Goldsmith has been appointed to the Board as Chief Financial Officer, with immediate effect.
Nigel has a wealth of experience in senior financial roles, at both public and private companies within the pharmaceutical industry, including three-years at AIM listed IS Pharma plc.
Nigel’s most recent appointment was that of Finance Director & Company Secretary at Eazyfone Ltd, an online mobile phone recycler which was placed 5th in the Sunday Times’ Annual Fast Track Awards (2009) having experienced rapid growth in revenues and profits as well as expanding into Europe.
From 2006-2009, Nigel was the Finance Director at IS Pharma plc (now Sinclair IS Pharma plc, since merging in 2011). During his time at the UK-based pharmaceutical and medical device company, Nigel oversaw two oversubscribed equity fundraisings and completed two corporate acquisitions; one in the UK and one in Switzerland.
After qualifying as a Chartered Accountant, Nigel spent over nine years at KPMG including two years as Senior Manager in Audit, prior to moving into industry.
Posts in industry also include; a seven-year tenure as CFO at Almedica International Inc, a privately held supplier of clinical trial materials to the pharmaceutical and biotech industry in Europe and the US. Whilst at Almedica, the company grew revenues and profits in both its UK and US trading operations prior to a successful disposal in September 2005 to a private equity backed US trade buyer, Aptui tInc, and; two years as European Controller for the sales and marketing division of laboratory equipment manufacturer, Life Sciences International plc.
Phil Reason, CEO of Instem plc, comments, “We are confident that Nigel will be a great addition to the Instem team. At a time when we are seeking to be acquisitive Nigel’s experience in this area and also of the pharmaceutical industry will be invaluable. I would also like to take this opportunity to thank Non-Executive Director David Sherwin for standing in as Finance Director during the interim period.”
Grant of Options
Mr Goldsmith has been granted options over 60,000 ordinary shares of 10p each ("Ordinary Shares"). These options become exercisable after a period of three years, pursuant to the rules of the All Staff LTIP approved by shareholders on 8 October 2010 ("LTIP"). The exercise price of 221.5p represents the closing mid-market price of the Ordinary Shares as at 29 November 2011.
For further information, please contact:
| Instem plc | www.instem.com |
| Phil Reason, CEO | +44 (0) 1785 825600 |
| Nigel Goldsmith, CFO | |
| N+1 Singer (Nominated Adviser & Broker) | +44 (0) 20 7496 3000 |
| Richard Lindley | |
| Nick Owen | |
| James White | |
| Wallbrook Financial PR | Tel: +44 (0) 20 7933 8000 |
| Paul Cornelius | or instem@walbrookpr.com |
| Sam Allen | |
| Helen Cresswell | |
| Paul Whittington |
Regulatory Information
Nigel John Goldsmith (aged 49) has no current directorships or partnerships. The directorships he has held over the five years preceding the date of this appointment are as follows:
Eazyfone Limited
IS Pharma plc
Speciality European Pharma International AG
Maelor Laboratories Limited
Acorus Therapeutics Limited
There are no other matters which are required to be announced as required under paragraph (g) of Schedule 2 of the AIM Rules.
About Instem
Instem is a leading supplier of IT applications to the early development healthcare market delivering compelling solutions for data collection, management and analysis across the R&D continuum. Instem applications are in use by customers worldwide, meeting the rapidlyexpanding needs of life science and healthcare organisations for data-driven decision making leading to safer, more effective products.
Instem’s portfolio of software solutions increases client productivity by automating study-related processes while offering the unique ability to generate new knowledge through the extraction and harmonization of actionable scientific information.
Instem supports over 450 clients through full service offices in the United States, United Kingdom and China with additional locations in Japan and India.
To learn more about Instem solutions and its mission, please visit instem.com.