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- Release Date: 10/02/14 16:29
- Summary: GENERAL: PIL: Temporary Relocation of Chief Executive Officer
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PIL
10/02/2014 14:29
GENERAL
REL: 1429 HRS Promisia Integrative Limited
GENERAL: PIL: Temporary Relocation of Chief Executive Officer
Mr Malcolm Johnson, Chairman of Promisia Integrative Limited (formerly Savoy
Equities Limited), announced today the temporary relocation of the Company's
Chief Executive Officer, Mr Charles Daily. In order to drive the Company's
ambitious growth strategy, Mr Daily will relocate to Washington, D.C. in the
United States. Mr Daily will build commercial relationships with strategic
partners in the United States. He will be working out of the Washington DC
offices of the law firm of Foley Lardner, which has a division specialising
in Federal Drug Administration (FDA) regulatory requirements.
Commenting on Mr Daily's move to Washington, D.C in early March Mr Johnson
said: "Mr Daily is a U.S Citizen and will concentrate initially on developing
commercial relationships in the Mid-Atlantic States." Mr Johnson continued:
"The region includes the city of Washington, D.C. and the states of Virginia,
Maryland, Delaware, West Virginia and Pennsylvania making up a combined
population of just over 30 million people."
Mr Daily will spend 10 months in the United States returning to New Zealand
with his family at the end of 2014. He will be present at the Company's
annual meeting of shareholders towards the end of May. Modern communication
facilities will be used to enable Mr Daily to maintain contact with the
directors and manage the Company during the period he is away.
Mr Daily commented: "This is an exciting window of opportunity for the
Company to become established in the world's largest consumer market. It
will allow me to leverage off some existing relationships and develop new
opportunities for growth." Mr Daily added: "A programme of stress testing
the Company's domestic distribution and manufacturing systems is underway to
ensure they are robust enough so that the Company can continue on its present
domestic growth path while it enters this large and exciting market."
Promisia Integrative Limited's first product, Arthrem(TM), is a plant-based
extract being marketed as a dietary supplement for joint support.
Dr. Sheena Hunt, the company's recently appointed Principal Scientist, will
continue with her work to develop other products using robust, evidence-based
scientific data arising from a comprehensive research and development
programme.
Sales in New Zealand of Arthrem(TM) continue to grow based on a strong
relationship with the Company's distributor, Pharmabroker Sales Limited, and
a growing web presence.
For further information please contact:
Mr. Charles Daily, Chief Executive Officer on (04) 894 8524 or
Mr. Malcolm Johnson, Chairman on (04) 479 3377
ENDS
End CA:00246806 For:PIL Type:GENERAL Time:2014-02-10 14:29:38
