Microsaic Systems (AIM:MSYS) Board Appointment and Strategic Update

Microsaic (AIM: MSYS) is pleased to announce the appointment of Robert Moore as an Independent Non-executive Director of the Company, with immediate effect.

Bob Moore is a UK qualified lawyer and brings over 35 years’ commercial and legal experience to the Board. Bob has acted as Head of International Legal Affairs at Enterprise Oil plc (a UK FTSE 100 company prior to its acquisition by Shell in 2002) and as co-founder and Commercial Director of Granby Oil & Gas plc, which was listed on AIM from 2005 until its sale in 2008. Bob subsequently co-founded, and is Managing Director of, private oil and gas exploration company Ardent Oil Ltd (operating in the UK, Denmark and Luxembourg). Bob also acts as Non-executive Chairman of Mobile Streams plc, an AIM listed company, having been appointed to the role in July 2021.

Bob Moore will also join the Finance & Audit and Remuneration Committees of the board of directors of the Company.

Further to the announcement on 28 January that Glenn Tracey would be stepping down from his role as Chief Executive Officer (“CEO”) to pursue a non-competitive opportunity, it has been agreed that he will leave on 31 March, rather than with effect from the date of the Company’s next Annual General Meeting (“AGM”) as previously announced.

The Company has begun a process to identify and appoint a successor CEO and from 1 April until that time, Gerry Brandon will temporarily serve as Executive Chairman of the Company. The Board is also making good progress with regard to the recruitment process for an additional independent non-executive director.

Gerard Brandon, Chairman of Microsaic, commented : “I’d like to thank Glenn again for his contribution over the past seven years and wish him every success in his new role.

“The Company is making progress in transforming from a proprietary equipment-only sales model, to a partner-based business model that adds contract micro-engineering design, build and commission of client equipment as a new revenue source. In addition, medical, environmental and bio-processing test services are to be carried out on Microsaic’s own mass spectrometry equipment for external clients and are also expected to generate recurring revenue streams. As we seek to grow the Company through a combination of organic growth, joint ventures and the potential for future acquisitions, Bob is a welcome addition to the Board with his international commercial and legal experience. ”

Additional Disclosures Required under the AIM Rules for Companies

In accordance with Schedule 2(g) of the AIM Rules for Companies, Robert (“Bob”) Dennis Moore (aged 64) is, or has been within the previous five years, a director or partner of the following companies or partnerships:

Bob Moore does not hold any ordinary shares in the Company.

Save as set out above, there is no further information to be disclosed in respect of Robert Moore under Schedule 2(g) of the AIM Rules.

Enquiries:

Microsaic Systems plc

Gerry Brandon Chairman

+44 (0)734 0055 648


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