Discoverie Group PLC Change of Name (7863X)
November 29 2017 - 3:01AM
UK Regulatory
TIDMDSCV
RNS Number : 7863X
Discoverie Group PLC
29 November 2017
29 NOVEMBER 2017
discoverIE Group plc
Change of name and ticker symbol
Further to the announcement yesterday regarding the name change
to discoverIE Group plc (the "Company" or the "Group") from Acal
plc, the Company confirms that it began trading its shares under
the new name, and its new ticker symbol, DSCV, as of 8.00 am this
morning.
The ISIN and SEDOL for the Company's shares remain unchanged and
are GB0000055888 and 0005588, respectively.
This change reflects the transformation of the Group over recent
years into a higher margin business focused on design and
manufacturing, and more importantly, the future ambitions of the
Board in this direction.
discoverIE, or 'discover innovative electronics', emphasises the
Group's focus on being a business that is highly differentiated,
customised, and that enables customer solutions. The Group's
operating business names, which customers know and rely on, remain
unchanged, preserving trusted brands.
For further information please contact:
discoverIE Group plc
Instinctif (Financial PR) 020 7457 2020
Mark Garraway
Helen Tarbet
James Gray
Notes to Editors:
About discoverIE Group plc
discoverIE (LSE: DSCV) is an international group of businesses
that designs, manufactures and supplies innovative components for
electronic applications. With effect from 28 November, the Company
name changed from Acal plc (LSE: ACL).
The Group provides application-specific components to original
equipment manufacturers ("OEMs") internationally. With in-house
engineering capability, we design components to meet customer
requirements, which are then manufactured and supplied, usually on
a repeating basis, for their ongoing production needs. This
generates a high level of recurring revenue and long term customer
relationships.
By focussing on key markets which are driven by structural
growth and increasing electronic content, namely renewable energy,
transportation, medical and industrial connectivity, the Group aims
to achieve organic growth that is well ahead of GDP and to
supplement that with targeted complementary acquisitions.
The Group employs c.3,800 people and its principal operating
units are located in Continental Europe, the UK, China, Sri Lanka,
India and North America.
The Group is listed on the Main Market of the London Stock
Exchange and is a member of the FTSE Small Cap Index, classified
within the Electrical Components and Equipment subsector, and has
revenue of c. GBP400m. Over the last five years, revenue and
underlying earnings per share have doubled.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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