The Board of Versarien announces that James Stewart CBE will retire as Non-executive Chairman on 31 December 2021 and Diane Savory OBE DL will be appointed as the Company's new Non-executive Chairman on 1 January 2022. As part of the transition process, Ms Savory will attend monthly Board meetings until formally taking office. James Stewart was appointed to the Board in June 2020 with a particular focus on assisting with expansion in the Far East. Since his appointment, the Company has completed its acquisition of the CVD assets and IP from Hanwha Aerospace in South Korea. With macro events shifting the Company's focus away from China, James now wishes to concentrate on his private portfolio of UK and Far East investments, but will continue to assist Versarien with its global expansion plans, as appropriate, through his advisory firm Menlo Partners LLP. Diane Savory has, until recently, served as Chair at GFirst LEP (Gloucestershire). She is a member of the Retail Sector Council at the Department of Business, Enterprise, Innovation and Skills and worked at Superdry Plc for a total of 22 years, including as a main board director, during which time it grew from an SME to a London Stock Exchange Main Market listed company. Diane's experience is allied to particular elements of the Company's GSCALE project.