The information contained
within this announcement is deemed to constitute inside information
as stipulated under the Market Abuse Regulation ("MAR") (EU) No.
596/2014, as incorporated into UK law by the European Union
(Withdrawal) Act 2018. Upon the publication of this announcement,
this inside information is now considered to be in the public
domain.
DIRECTORATE CHANGE
BOARD
UPDATE
LONDON, United Kingdom and
TORONTO, Ontario, Canada 1 May 2024 - Alphawave IP
Group plc (LN: AWE, the "Company" or "Alphawave Semi"),
a global leader in high-speed connectivity for the
world's technology infrastructure, announced today a refocussing of
the Board of Directors after reaching the
three-year milestone since the Company's IPO.
The Board believes that the future
needs of Alphawave Semi as a global vertically integrated
semiconductor company, requires deeper Board expertise in
artificial intelligence (AI) and datacentre infrastructure.
In light of this, Paul Boudre, Susan Buttsworth, Victoria Hull and
Rosalind Singleton have chosen not to put themselves forward for
re-election at the upcoming Annual General Meeting ("AGM").
Jan Frykhammar, David Reeder, and Michelle Senecal-de-Fonseca will
remain as Independent Non-Executive Directors, and accordingly at
least half of the Board of Directors, excluding the Executive
Chairman, will continue to be Independent Non-Executive
Directors. The Company intends to recruit Directors with
relevant Board experience in AI and datacentres.
Jan Frykhammar said: "Boards must
evolve as businesses evolve, and that is why we continuously assess
our needs so we can serve shareholders effectively. Alphawave
is now a leading vertically-integrated semiconductor business,
focused on AI and datacentres, and we are committed to building a
diverse and global Board that can effectively support the Company
through the next cycle of its growth and expansion."
John Lofton Holt said: "We thank all
the current and departing Board members for their service to
shareholders and the Company. Nearly
80% of our current pipeline is in the AI and datacentre
markets. We will continue to bring additional diverse
technology company talent onto the Board to deepen and expand our
capabilities in these markets, while continuing to lead the
industry in advanced IP, custom silicon, and connectivity
solutions."
About Alphawave Semi
Alphawave Semi is a global leader in
high-speed connectivity for the world's technology infrastructure.
Faced with the exponential growth of data, Alphawave Semi's
technology services a critical need: enabling data to travel
faster, more reliably and with higher performance at lower
power. We are a vertically integrated semiconductor company,
and our IP, custom silicon, and connectivity products are deployed
by global tier-one customers in data centers, compute, networking,
AI, 5G, autonomous vehicles, and storage. Founded in 2017 by an
expert technical team with a proven track record in licensing
semiconductor IP, our mission is to accelerate the critical data
infrastructure at the heart of our digital world. To find out more
about Alphawave Semi, visit: awavesemi.com
Related Party Disclosures
There are no new related parties
disclosed in this press release.
###
Trademarks
Alphawave Semi and the Alphawave
Semi logo are trademarks of Alphawave IP Group plc. All rights
reserved. All registered trademarks and other
trademarks belong to their respective owners.
Contact Information:
Alphawave Semi plc
|
John Lofton Holt, Executive
Chairman
Jose Cano, Head of IR
|
ir@awavesemi.com
+44 (0) 20
7717 5877
|
Brunswick Group
|
Caroline Daniel
|
alphawave@brunswickgroup.com
+44 (0) 20
7404 5959
|
Gravitate PR
|
Lisette Paras
Nia Ceasar
|
alphawave@gravitatepr.com
+1 415 420
8420
|
|
|
| |
LEI: 213800ZXTO21EU4VMH37