REG - Alphawave IP Group - Directorate Change

Alphawave IPAnnouncement

01/05/2024 07:15

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RNS Number : 7709M  Alphawave IP Group PLC  01 May 2024

 

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation ("MAR")
(EU) No. 596/2014, as incorporated into UK law by the European Union
(Withdrawal) Act 2018. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

 

 

 

DIRECTORATE CHANGE

 

BOARD UPDATE

LONDON, United Kingdom and TORONTO, Ontario, Canada 1 May 2024 - Alphawave IP
Group plc (LN: AWE, the "Company" or "Alphawave Semi"), a global leader in
high-speed connectivity for the world's technology infrastructure, announced
today a refocussing of the Board of Directors after reaching the three-year
milestone since the Company's IPO.

 

The Board believes that the future needs of Alphawave Semi as a global
vertically integrated semiconductor company, requires deeper Board expertise
in artificial intelligence (AI) and datacentre infrastructure.  In light of
this, Paul Boudre, Susan Buttsworth, Victoria Hull and Rosalind Singleton have
chosen not to put themselves forward for re-election at the upcoming Annual
General Meeting ("AGM").  Jan Frykhammar, David Reeder, and Michelle
Senecal-de-Fonseca will remain as Independent Non-Executive Directors, and
accordingly at least half of the Board of Directors, excluding the Executive
Chairman, will continue to be Independent Non-Executive Directors.  The
Company intends to recruit Directors with relevant Board experience in AI and
datacentres.

 

Jan Frykhammar said: "Boards must evolve as businesses evolve, and that is why
we continuously assess our needs so we can serve shareholders effectively.
Alphawave is now a leading vertically-integrated semiconductor business,
focused on AI and datacentres, and we are committed to building a diverse and
global Board that can effectively support the Company through the next cycle
of its growth and expansion."

 

John Lofton Holt said: "We thank all the current and departing Board members
for their service to shareholders and the Company.  Nearly 80% of our current
pipeline is in the AI and datacentre markets.  We will continue to bring
additional diverse technology company talent onto the Board to deepen and
expand our capabilities in these markets, while continuing to lead the
industry in advanced IP, custom silicon, and connectivity solutions."

 

About Alphawave Semi

Alphawave Semi is a global leader in high-speed connectivity for the world's
technology infrastructure. Faced with the exponential growth of data,
Alphawave Semi's technology services a critical need: enabling data to travel
faster, more reliably and with higher performance at lower power. We are a
vertically integrated semiconductor company, and our IP, custom silicon, and
connectivity products are deployed by global tier-one customers in data
centers, compute, networking, AI, 5G, autonomous vehicles, and storage.
Founded in 2017 by an expert technical team with a proven track record in
licensing semiconductor IP, our mission is to accelerate the critical data
infrastructure at the heart of our digital world. To find out more about
Alphawave Semi, visit: awavesemi.com (http://www.awaveip.com/)

 

Related Party Disclosures

There are no new related parties disclosed in this press release.

 

###

 

Trademarks

Alphawave Semi and the Alphawave Semi logo are trademarks of Alphawave IP
Group plc. All rights reserved. All registered trademarks and other trademarks
belong to their respective owners.

 

Contact Information:

 

 Alphawave Semi plc  John Lofton Holt, Executive Chairman      ir@awavesemi.com

                     Jose Cano, Head of IR                     +44 (0) 20 7717 5877
 Brunswick Group     Caroline Daniel      alphawave@brunswickgroup.com

                                          +44 (0) 20 7404 5959
 Gravitate PR        Lisette Paras                             alphawave@gravitatepr.com

                     Nia Ceasar                                +1 415 420 8420

 

 

 

LEI: 213800ZXTO21EU4VMH37

 

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