NetScientific Plc announced that John Clarkson is relinquishing his executive status and becoming Non-Executive Chairman of the Company with immediate effect. John joined the NetScientific Board in December 2019, was appointed as Non-Executive Chairman in March 2020, and stepped into the role of Executive Chairman in December 2020. During this three year period, the Company has made substantial progress with the turnaround of the business and implementation of its growth strategy to deliver shareholder value, with proactive commercial management, a capital light investment model, trans-Atlantic development, and expansion of the portfolio from 8 to 23 companies.

John has indicated his wish to step down from the NetScientific Board during the first quarter of 2023 and has agreed to remain in the role of Non-Executive Chairman of the Company whilst the Company concludes its search for the appointment of a new Chair. It has also been agreed that John will, until 31 December 2023, provide various consultancy and advisory services to Group companies for an aggregate remuneration that is within his contractual entitlement to payment in lieu of notice. The Nomination Committee has initiated a search for a new Chair and an announcement will be made in due course.