The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
21 November 2019
BLOCK COMMODITIES LIMITED
("Block Commodities" or the "Company")
Block Commodities Limited / Epic: BLCC / Sector: Mining
Block Commodities Announces Appointment of New Chief Executive Officer
Block Commodities Ltd is pleased to announce the appointment of Ian Tordoff as Chief Executive Officer who has joined the Board with immediate effect. Mr Tordoff will assume responsibility for the overall management of business operations from Dr Chris Cleverly, who will step down from his executive role but remain in his position as non-executive Chairman of the Company.
Mr Tordoff has wide expertise in leading engineering and logistics development teams. He has managed more than US$6bn of health care projects, spanning clinical & medical assignments in the UK, US and Middle East for health providers and insurance clients.
Formerly a consultant for Ernst & Young, Ian has since held Non-executive Director and advisory roles with the National Health Service, myHealthPal Group and Dermaltech. He currently advises PathologyCloud, Amethyst Radiotherapy and Vulcan Industries PLC.
Ian's extensive experience has involved tracking the evidence base for the efficacy of cannabidiol (CBD) and tetrahydrocannabinol (THC), two natural compounds found in cannabis plants and their associated treatments and he has built strong relationships through this work with relevant producers, labs, "brands" and customers.
Commenting on the appointment Chris Cleverly, non-executive Chairman of Block Commodities, said: "Block Commodities has reached an exciting new stage in its development and has subsequently strengthened its leadership team to meet the opportunities presented by the changing commercial and regulatory landscapes. The substantial growth opportunity that exists for the company was exemplified by the NHS approval of two cannabis-based medicines for use by the National Institute for Health and Care Excellence ("NICE") in the UK. We welcome the wealth of experience that Ian brings to the Company from the health and wellness industry and look forward to working with him."
Ian Tordoff, Chief Executive Officer of Block Commodities said: "I am pleased to join Block Commodities at such a pivotal time for the Company. Black Commodities is well placed to build a market leading position in the sector. I am looking forward to expanding both our Advisory Board and Medical Management Team in the next two quarters to ensure that we have the best in-house resources to capitalise on the emerging opportunities in this rapidly developing market, to the benefit of all of our stakeholders."
NOTES TO EDITORS
Further Information on Ian Tordoff
As required by Paragraph 21 of Appendix 1 to the NEX Exchange Growth Market - Rules for Issuers, the Company confirms that Mr Ian Charles Tordoff, aged 57, is currently a director/partner, or has been a director/partner in the past five years, of the companies listed below:
Past Directorships (last five years)
Vulcan Industries Plc
Compare the Man and Van Ltd
Integre Consulting Ltd
Amethyst Radiotherapy Ltd
Racco Products Ltd
PPA Group Holdings Ltd
Mr Tordoff will be handing over responsibilities and resigning as a Director of all other concerns in the coming weeks with the exception of his Non-executive Director role with Vulcan Industries Plc which requires less than 3 days per month of his time.
Mr Tordoff has an interest in the Company's unissued share capital as the holder of 300,000,000 zero cost options to subscribe for new ordinary shares in the Company (of which 150,000,000 have vested and 150,000,000 will vest when the Company's share price is in excess of £0.002 for a period of 14 consecutive trading days).
Mr Tordoff has no further disclosures under the NEX Exchange rules for companies.
The Directors of the Company accept responsibility for the content of this announcement.