Cyclopharm Limited announced that Mr. Vanda Gould has been redesignated from Non-Executive Chairman to Non-Executive Company Director, effective October 7, 2016. Due to the demands on his time from responding to recent charges in relation to an ongoing taxation & related matters, Mr. Gould has advised he will be unable to dedicate sufficient time to the role of Chairman in the near future although he will remain on the Board as a Non-Executive Director. In the interim, Mr. David Heaney, an Independent Non-Executive member of the Board since 20 November 2007 has been appointed as acting Chairman until further notice.