Business
Appointment of Non-Executive Director
Appointment of Non-Executive Director.
About this update from Cizzle Biotechnology Holdings Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"EUWA\")) (\"UK MAR\").\n25 March 2025\nCizzle Biotechnology Holdings plc\n \n(\"Cizzle\", \"Cizzle Biotechnology\", or the \"Company\")\n \nAppointment of Non-Executive Director\nCizzle Biotechnology, the UK based diagnostics developer of early cancer tests is pleased to announce the appointment of Edwin Matthew (Matt) Bower as a Non-Executive Director (\"NED\") of the Company with immediate effect.\n \nMatt Bower is an experienced company executive and adviser with a track record as a director and secretary of private equity backed and listed companies, across a broad range of company and technology related activities. He is engaged as a strategic advisor and mentor to the board of directors of a number of high growth trading and technology companies, and a director of a number of private companies.\n \nMatt will sit on both the Company's audit and remuneration committees, alongside the Company's independent Non-Executive Director, John Treacy, replacing Prof Dawn Coverley who recently moved from her role as a NED to Chief Scientific Officer, as announced on 2 January 2025.\n \nMatt is a Director of Makabo Limited (\"Makabo\"), a strategic consultancy and board advisory business. On the 24 June 2024, the Company entered into an agreement (the \"Agreement\") with Makabo to support the Board in the areas of strategy, partnerships, licensing and shareholder communications. With Matt joining the Board, the Agreement has now been terminated. Pursuant to the Agreement, Makabo waived payment of more than 85 per cent of its contracted fees to link remuneration directly to the success of the Company, by accepting 2,464,625 options over new Ordinary Shares (the \"Options\") with an exercise price of 1.622965p per ordinary share. The Options were granted on a pro-rata monthly basis and will all vest and become exercisable on 25 June 2025 assuming that the VWAP of the Ordinary Shares for the period 25 May 2025 to 24 June 2025 is equal or greater than 3.24593p, being twice or greater than the Options grant price. The Options remain exercisable until 25 June 2027.\n \nCommenting, Allan Syms, Executive Cha...