Spectra's new CFO able to carry out duties following due dilligence

Following the conclusion of due diligence, Spectra Systems’ new chief financial officer Brian McLain is able to carry out his duties.

AIM-listed Spectra Systems, a supplier of authentication technology for banknotes and tax stamps, appointed McLain on 23 January but he was subject to due diligence enquiries by certain Spectra customers and standard regulatory AIM background checks.

The company said on Friday that all these enquiries have "progressed satisfactorily", although a more detailed enquiry is still being carried by one of its customers.

McLain previously worked at US accounting firm Arthur Andersen, US software business Excelergy Corporation, UK-owned Massachusetts power producer International Power, and SeraCare Life Sciences, a manufacturer of biological products.

At SeraCare, which was Nasdaq-quoted before it went bankrupt and was bought out in 2012, he progressed from the role of corporate controller to vice president, finance and business solutions.

In 2014, he joined OMNIlife Science, a manufacturer and distributor of orthopaedic devices in the role of corporate controller.