6 February 2024
SysGroup
plc
("SysGroup", the "Company", or the "Group")
Board Changes, Progress
Update and Change of Registered Office
SysGroup plc (AIM:SYS), the technology partner for
delivery and management of cloud, data and security to power
Artificial Intelligence ("AI") and Machine
Learning ("ML") transformation,
announces a change to its Board of Directors,
provides a progress update and notification of change of Registered
Office.
Board Change - Chief Financial Officer
The Board is delighted to announce
the appointment of Owen Phillips as the Chief Financial Officer and
as a director of the Company. After five years' service, Martin
Audcent has decided to step down from his role as Chief Financial
Officer and member of the Board to pursue other interests. These
changes will take effect on 11 March 2024 and Martin will continue
to support the business until 30 June 2024 to ensure a smooth
transition.
Owen currently serves as a Director
in the finance function at Matillion Limited. Headquartered in
Manchester, the company is a leading provider of cloud data
integration tools and one of only a handful of Manchester tech
unicorns, with a valuation of $1.5 billion at the last funding
round. Previously, Owen held various financial management positions
in the data/tech sector as well as working in professional practice
at Grant Thornton UK LLP.
Progress Update
The Company has performed well
during the third quarter with double digit revenue growth versus
comparable period last year. We continue to build strong revenue
pipeline as the new sales organisation is embedded. The AI/ML
offerings are gaining momentum with a pipeline of opportunities
with both new and existing customers. We have already signed our
inaugural AI/ML engagement to support a drug discovery company on
their AI data journey. We have also recently concluded a three-year
agreement valued at over £500,000 to deliver a market-leading
security solution to a public sector organisation via G-Cloud
Framework. The full value of the contract will be recognised in the
fourth quarter.
Closing of Liverpool Office and Change of Registered
Office
The Company's Liverpool office will
be closing at the end of February when its lease expires, and with
effect from 1 March 2024 the Company's Registered Office will be 55
Spring Gardens, Manchester M2 2BY.
Heejae Chae, Executive Chairman of SysGroup,
commented,
"We continue to strengthen the senior
management team with individuals with invaluable experience and
expertise from industry leading companies. Owen joined Matillion in
2018 at its start-up phase with 60 employees. Matillion is a global tech unicorn with over 500 employees
around the world.
His wealth of experience in helping
Matillion with its growth and maturity will be invaluable in our
journey.
I
would like to take this opportunity to express our appreciation to
Martin for his valuable contribution since 2018 and extend our best
wishes for his future endeavours."
In accordance with Schedule 2(g) of
the AIM rules, Owen Rhodri Phillips (aged 43) has not held any
directorships in the last 5 years.
Owen holds no shares in the
Company.
There is no further information on
Owen required to be disclosed under Schedule Two, paragraph (g)
(i)-(viii) of the AIM Rules for Companies.
Following the appointment of Owen
Phillips and the resignation of Martin Audcent, the Board will
comprise Heejae Chae (Executive Chairman); Owen Phillips (Chief
Financial Officer); and Mike Fletcher, Mark Reilly and Paul Edwards
(Non-Executive Directors).
For
further information please contact:
SysGroup plc
Heejae Chae, Executive
Chairman
|
Tel: 0333 101
9000
|
Zeus (Nominated Adviser and
Broker)
Jordan Warburton
Nick Cowles
Alexandra Campbell-Harris
Nick Searle
|
Tel: 0161 831 1512
|
About SysGroup
SysGroup plc is a managed service
provider of end-to-end data solutions enabling us to take our
customers on their AI data journey. The Group offers an integrated
set of modern technologies that collectively meets our customers
end-to-end data needs including connectivity, cloud hosting,
delivery, analytics and governance of customer data, as well as a
security layer for users and applications.
The Group has offices
in Bristol, Edinburgh, London, Manchester and
Newport.
For more information,
visit http://www.sysgroup.com