Feedback PLC New Company Structure and Directorate Change (9478K)
16 April 2018 - 8:30AM
UK Regulatory
TIDMFDBK
RNS Number : 9478K
Feedback PLC
16 April 2018
This announcement contains inside information as stipulated
under the Market Abuse Regulation (EU) No 596/2014 (MAR).
16 April 2018
Feedback plc
(the "Company" or "Feedback")
New company structure and changes to the Board of Directors
Cambridge, UK - 16 April 2018: Feedback plc ("Feedback" or the
"Company") (AIM: FDBK), the specialist medical imaging technology
company, announces a new company structure and changes to the Board
of Directors to optimise Feedback's operations and continue to
build the Company's presence in the field of medical imaging.
New company structure
Feedback acquired Cambridge Computed Imaging Ltd ("CCI") and
TexRAD Limited in 2014, and both companies have been operating as
wholly-owned subsidiaries since. As part of a strategic review to
streamline operations and act as a fully-integrated organisation,
CCI has been renamed to Feedback Medical Limited and TexRAD Limited
will become dormant. All employees will be working for Feedback
Medical Limited as a wholly-owned subsidiary of Feedback. These
organisational changes are aligned to the Company's mission to
create evidence-based imaging software, arming clinicians with
innovative tools to improve patient outcomes.
Changes to the Board of Directors
As part of the organisational changes, Mike Hayball and Dr
Balaji Ganeshan have resigned as Executive Directors of Feedback
plc with immediate effect. Mike Hayball will continue as Director
of Feedback Medical Limited and Dr Balaji Ganeshan has been
appointed as a Director of Feedback Medical Limited. In addition,
Dr Alex Menys has stepped down as Non-Executive Director with
immediate effect having served on the Board since November 2015.
Simon Sturge has been appointed as Non-Executive Director with
immediate effect (see separate announcement). Furthermore, Dr
Alastair Riddell and Simon Sturge will receive share options in
lieu of fees to reduce board cash costs and a further announcement
will be made when such options are granted.
Dr Alastair Riddell, Chairman of Feedback, said: "These changes
represent an important step for Feedback to simplify its
organisation and continue to leverage its global brand in the field
of medical imaging. On behalf of the Board I would like to thank Dr
Alex Menys for his support since 2015 as Feedback's progress has
evolved. In streamlining the Board, we now have complementary
expertise across the Non-Executive and Executive Directors and are
well-positioned to support the Company's growth strategy."
David Crabb, Chief Executive Officer of Feedback, said: "Over
the past two months I have been focused on unlocking the
significant potential in optimising and expanding Feedback's
operations. I believe that these organisational changes will unify
the team, improve business performance and raise awareness of the
Company globally. With two, well-established platform technologies
and deep domain expertise, I look forward to delivering continued
progress towards our long-term vision to lead global innovation in
quantitative medical imaging analysis."
-- Ends --
Notes to editors
About Feedback plc
Feedback plc is a specialist medical imaging technology company.
It develops software and systems that provide innovative techniques
and improved workflows for practitioners involved in medical
research and treating patients. TexRAD(R) , the Company's patented
quantitative image texture analysis technology, has the potential
to assist clinicians in diagnosis, prognosis and treatment of
patients with cancer and is currently installed in over 40 of the
world's leading research institutions across Europe, North America,
Asia and Australasia. The Cadran platform provides a suite of
medical imaging tools for decision support. The Cadran range
includes the picture archiving communication system (PACS) to
provide decision support for scan analysis, diagnostic workstations
which provide secure remote access to view scans on demand, and
products to securely share and transport patient data. Visit
www.fbk.com.
For further information, please contact:
Feedback plc Tel: 01954 718072
David Crabb, Chief Executive Officer IR@fbk.com
Lara Mott, Investor Relations
Allenby Capital Limited (Nominated Adviser and Tel: 020 3328 5656
Joint Broker)
David Worlidge / Asha Chotai
Northland Capital Partners Ltd (Joint Broker) Tel: 020 3861 6625
David Hignell / John Howes
Peterhouse Corporate Finance Ltd (Joint Broker) Tel: 020 7469 093
Lucy Williams / Duncan Vasey
This information is provided by RNS
The company news service from the London Stock Exchange
END
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