Plant Impact improves cash position as CFO steps down

PLANT Impact, a developer of products for the agriculture industry, has announced that its chief financial officer, Michael Panteli, has resigned from the company with immediate effect.

In a separate announcement, the company said that it has amended the terms of a commercial deal with its shareholder and partner Arysta Life Sciences.

The deal includes extending a £750,000 development loan made by Arysta to Plant Impact, which the company said will improve its financial position and cash flow outlook.

“It eliminates considerable near-term cash pressure from our business and returns to Plant Impact a valuable commercial asset in the major markets of the United States, South America and Asia,” said John Brubaker, CEO of Plant Impact.

Robert Stafford has joined the company as interim FD with immediate effect, but will not join the board.