09 June 2017
Announcement on Board of Directors
Reading, 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.
As 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.
*"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.
Convatec is a global medical products and technologies company focused on therapies for the management of chronic conditions. The Company is listed on the London Stock Exchange (stock symbol: CTEC) and has leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion devices. Convatec's products provide a range of clinical and economic benefits, including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. www.convatecgroup.com
Analysts and Investors
John Crosse, VP Investor Relations, Convatec +44 (0)7500 141 435
Kirsty Law, Director Investor Relations, Convatec +44 (0)7470 909 582
Bobby Leach, VP Group Corporate Affairs, Convatec +44 (0)7770 842 226
Rebecca Fitchett, Finsbury +44 (0)207 251 3801
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