Touchstone board members step down as company de-lists

Touchstone Innovations has announced that four non-executive directors are to step down from the board as the company de-lists from the AIM.

David Newlands, Linda Wilding, David Begg and Robert Easton will step down following the cancellation of admission of the company’s shares to trading on AIM on December 11.

Touchstone said in anticipation of the cancellation of the admission of the company’s shares to trading on AIM, its audit and risk committee, nomination committee and remuneration committee have been dissolved.

Last month, the Competition and Markets Authority cleared IP Group’s £490m takeover for Touchstone.

Earlier this year, IPD upped its offer for Touchstone and secured the backing of the company’s founder Imperial College.

Both the companies specialise in scientific commercialisation projects.

IP Group has offices in Leeds and London and has backed University of Leeds spin-outs Tracsis, Tissue Regenix and Xeros, plus University of Sheffield spin-out DiurnalGroup.

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