LONDON (ShareCast) - (Sharecast News) - Mobile technology firm Location Sciences announced on Thursday that Dan Francis will stand down from his role as an executive director, effective immediately.
Although Francis is set to remain with the group in an "advisory role" as its chief strategy officer for a further two months, the AIM-listed company will begin its hunt for a replacement chairman straight away.

After changing its name from Proxama in March, the company raised £0.41m before expenses in a placing earlier this month to invest in and market Verify, its new location verification product, and for "2018 working capital purposes".

Chief executive officer Mark Slade said, "On behalf of the board and the company I would like to thank Dan for all his hard work with the company. We wish him all the best for his future endeavours."

Francis added, "I have greatly enjoyed my time with Location Sciences and I wish Mark and the team every success for the future."

As of 1140 BST, Location Sciences shares had dipped 0.1% to 0.030p.

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