Business
Announcement on Board of Directors
Announcement on Board of Directors.
About this update from Convatec Group Plc
[{"type":"text","content":"\n \nRNS Number : 6053H ConvaTec Group PLC 09 June 2017 \n\n ConvaTec \n PRESS RELEASE \nAnnouncement on Board of Directors \n \nReading, United Kingdom (9th June 2017) It was announced on 6th June 2017 that, following a successful share placing, Nordic Capital* had reduced its shareholding in ConvaTec Group Plc (\"ConvaTec\" or the \"Company\") to 143,158,828 ordinary shares, representing approximately 7.34% of the issued share capital of the Company. As a consequence of reducing its shareholding, under the terms of its relationship agreement with ConvaTec, Nordic Capital is no longer entitled to nominate a Director to the Board of ConvaTec. Mr Raj Shah is the current Non-Executive Director appointed to the Board on behalf of Nordic Capital. \n \nAs previously announced, ConvaTec is actively seeking the appointment of two new Independent Non-Executive Directors. The Board has requested, and Mr Shah has agreed, that Mr Shah will remain as a Director for a further three months to 8th September 2017, to provide continuity during this process. It is anticipated that the new appointments will be made prior to the end of this three month period.\n \n*\"Nordic Capital\" refers to Nordic Capital VII Limited, acting in its capacity as General Partner of Nordic Capital VII Alpha, L.P. and Nordic Capital VII Beta, L.P. together with associated co-investment vehicles and Nordic Capital VI Limited, acting in its capacity as General Partner of Nordic Capital VI Alpha, L.P. and Nordic Capital VI Beta, L.P. together with associated co-investment vehicles.\n \n \nAbout ConvaTec \n\nConvaTec is a global medical products and technologies company focused on therapies for the management of chronic conditi...