REG - Renovo Group Plc - Result of General Meeting and Change of Name <Origin Href="QuoteRef">RNVO.L</Origin>

InspiredAnnouncement

29/10/2014 10:29

RNS Number : 3465O
Renovo Group Plc
05 August 2014
5 August 2014 
Renovo Group plc
("Renovo" or the "Company")
Result of General Meeting
Change of Name to Inspired Capital plc
Renovo Group plc, a leading provider of customer-focused financial solutions to SMEs,is pleased to announce that at a General Meeting held today, shareholders approved the proposal to change the company name to Inspired Capital plc ("Inspired Capital"). The change of name will take effect prior to the shares commencing trading under the new ticker INSC, at 8am on 6th August 2014.
The Company's new website is now live at http://www.inspiredcapitalplc.com.
Commenting on the change of name to Inspired Capital, Brian Cole, Chief Executive Officer said: "We have a clear plan to become the UK's leading provider of financial solutions to SMEs. Our new name reflects our ambitions in this market, but moreover recognises the ambitions of our current and future customers, whose small businesses serve as a cornerstone for British economic growth. 
"Since our acquisition of Ultimate Finance Group in late 2013 we have added management and focused successfully on growing our existing business; nearly tripling the sales force for our invoice and asset finance products. At the same time, we are beginning to lay the foundations for the much larger business we intend to become, continuing to recruit world-class talent, test new products and expand our marketing strategies. 
"With a strong technology platform, Inspired Capital is poised for step change growth and excited about the opportunity ahead of us. We are confident in our ability to generate significant shareholder value."
For further information please contact:
Inspired Capital plc
Matt Cooper, Chairman
Brian Cole, Chief Executive Officer
David Blain, Chief Financial Officer
+44 (0) 7721 978 218
Altium (financial adviser and nominated adviser)
Paul Lines
Phil Adams
Adam Sivner
+44 (0) 845 505 4343
Panmure Gordon (broker)
Dominic Morley
+44 (0) 20 7886 2500
Newgate Threadneedle
John Coles
Fiona Conroy
Caroline Forde
Jasper Randall
+44 (0) 20 7653 9850
About Inspired Capital plc
Inspired Capital is building by organic growth and acquisition a new customer-friendly force in SME lending by deploying long term capital. There is an opportunity to grow considerably in an underserved sector, with SMEs traditionally finding credit difficult to access from the major clearing banks that often focus on the security and stability of retail and larger corporate lending.
Inspired Capital is working to transform the SME lending business model and platform through a greater focus on technology and marketing, developing a broader array of lending products and providing alternative routes to access funding for SMEs at commercial rates which are accretive to the strategy.

This information is provided by RNS
The company news service from the London Stock Exchange
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