30 January 2024
RUA Life Sciences Plc
("RUA Life Sciences", the "Company" or the "Group")
Change of Auditor
RUA Life Sciences plc (AIM: RUA.L), the holding company of a group of medical device businesses focused on the exploitation of Elast-Eon™, the world-leading long-term implantable biostable polyurethane, announces that, following a competitive audit tender process undertaken by the Company, the Board has approved the appointment of RSM UK LLP ("RSM") as the Group's new external auditor. Grant Thornton UK LLP ("Grant Thornton") has resigned as the Group's auditor.
RSM will conduct the audit of the Group's financial statements for the financial period to 31 March 2024, and a proposal to re-appoint RSM as auditors of the Group will be subject to shareholders' approval at the 2024 Annual General Meeting.
Grant Thornton has been the auditor for the Company since 2006, and we thank them for their services over this time. Grant Thornton has confirmed to the Company that there are no matters connected with their ceasing to hold office that need to be brought to the attention of the members or creditors of the Company for the purposes of section 519 of the Companies Act 2006.
For further information contact:
RUA Life Sciences Tel: +44 (0)1294 317073
Bill Brown, Chairman
Lachlan Smith, Chief Financial Officer
Cavendish Capital Markets Limited (Nominated Adviser and Broker) Tel: +44 (0)20 7220 0500
Giles Balleny / Dan Hodkinson (Corporate Finance)
Dale Bellis / Charlie Combe (Sales & ECM)
Michael Johnson (Sales)
About RUA Life Sciences
The RUA Life Sciences group was created in April 2020 when RUA Life Sciences Plc (formerly known as AorTech International Plc) acquired RUA Medical Devices Limited to create a fully formed medical device business. RUA Life Sciences is the holding company of the Group's four trading businesses, each exploiting the Group's patented polymer technology.
Our vision is to improve the lives of millions of patients by enabling medical devices with Elast-EonTM, the world's leading long-term implantable polyurethane. Whether it is licensing Elast-EonTM, manufacturing a device or component, or developing next generation medical devices, a RUA Life Sciences business is pursuing our vision.
Elast-Eon™'s biostability is comparable to silicone while exhibiting excellent mechanical, blood contacting and flex-fatigue properties. These polymers can be processed using conventional thermoplastic extrusion and moulding techniques. With over 8 million implants and 15 years of successful clinical use, RUA's polymers are proven in long-term life enabling applications.
The Group's four business units are:
| RUA Contract Manufacture: | End-to-end contract developer and manufacturer of medical devices and implantable fabric specialist.
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| RUA Biomaterials: | Licensor of Elast-EonTM polymers to the medical device industry.
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| RUA Vascular: | Commercialisation of open surgical vascular grafts and patches
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| RUA Structural Heart: | Development of polymeric leaflet systems for heart valves. |
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