Cancer treatment focused life sciences company Medical Marketing International Group PLC (AIM:MMG) announced that non-executive directors Chris Banks and James Brenton have stepped down from the board with immediate effect, in a move to reduce costs whilst a dispute with a former chairman of the group is ongoing.
It also said that chief technical officer Mark Burton is stepping down from the board at the end of the calendar year, following completion of his contractual employment notice period.
In an effort to realise value for all stakeholders whilst recognising the currently unresolved employment claims of former chairman David Best, MMI is to significantly reduce the cost base of the business whilst continuing to explore potential merger/acquisition opportunities with third parties; reviewing the disposal of assets to raise capital; and progressing discussions regarding further fundraising.
A further update will be made in due course, it added.www.proactiveinvestors.co.uk
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