The company noted that both Legge and Clarke bring a range of corporate experience to their roles as non-executive directors. Legge spent many years acting as a corporate finance advisor including as a nominated adviser to AIM Companies, while Clarke has extensive experience as a director in technology companies and is currently finance director of PowerPhotonic Ltd, a manufacturer of advanced laser optics.
In a statement, Legge, Remote Monitored’s new chairman, said: “Whilst the immediate focus is on the production of masks using Pharm 2 Farm’s nanotechnology, this is just one near-term application for this technology.
“The challenge for the new board will be to effectively utilise the resources from the recent placing to commercialise the Group’s intellectual property assets across all the businesses, most of which are still at an early stage in their development, in order to meet current valuation expectations.”
The group’s board said they would like to thank Ryan, who stepped down as chairman on January 8, 2021, for his time and service to the company, having been the longest-serving board member of the company.
They noted that his departure from the chair comes with the company in possession of a strong balance sheet and a range of intellectual property assets in the three subsidiaries; Cloudveil, Gyrometric and Pharm 2 Farm, a number of which the Board believes have significant commercial potential.