REG - SDI Group PLC - Directorate Change – Appointment of New CEO

SDIAnnouncement

22/01/2024 07:00

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RNS Number : 3668A  SDI Group PLC  22 January 2024

SDI Group plc

("SDI", the "Company" or the "Group")

Directorate Change - Appointment of New CEO

SDI Group plc, the AIM quoted Group focused on the design and manufacture of
scientific and technology products for use in digital imaging and sensing and
control applications, announces that Mike Creedon has stepped down as CEO.
Mike joined the Group in 2010 as CFO, was promoted to MD, became CEO in 2012,
and has been a key part of SDI's journey over the past decade.

Stephen Brown, previously SDI's COO, succeeds Mike as CEO. Stephen joined the
Group, and the Board, as COO in September 2023. Stephen has held a number of
senior positions with prestigious global product and technology focused
businesses. Recent roles include Stephen's position as Group COO (non board)
at AIM quoted AB Dynamics plc and CEO & Operating Partner at BP Launchpad,
part of BP plc.

Mike has stepped down as CEO, and as a director and employee of the Company
effective 19 January 2024, with Stephen being appointed as CEO at the same
time.

Ken Ford, Chairman said: "We would like to thank Mike for his leadership of
SDI over the past decade. The Group has grown significantly with a number of
excellent acquisitions, adding great people, products and technologies. We
wish Mike well in his future endeavors.

I am delighted that Stephen is succeeding Mike as CEO. Stephen has already
made an excellent start within the Group, identifying a number of areas where
we can continue to develop the strength of the Group. We continue to look
forward to the future with great confidence."

Stephen Brown, CEO said: "SDI has built a strong business, with excellent
opportunities for the future. For over ten years SDI has grown value by
focusing on a clear and straightforward strategy, and this will not change. We
acquire private companies at a significant discount to those on the quoted
markets. These subsidiaries are then encouraged to grow for the benefit of all
stakeholders. I am pleased to report that we continue to have a number of new
acquisition opportunities under review. I look forward to a busy and
prosperous 2024 and beyond."

Mike Creedon, former CEO said: "Over more than a decade I have had the
pleasure of working with the excellent people in the Group, and as we have
grown together, we have been joined by other great businesses staffed by like
minded, hard working, and highly skilled teams. After more than a decade with
SDI, I am pleased to be handing over to Stephen who brings skills and
experience that will support the Group as it continues to grow through its buy
and build strategy."

Enquiries

SDI Group plc
                                01223 727144

Ken Ford, Chairman

Stephen Brown, CEO

Ami Sharma, CFO

www.sdigroup.com (http://www.sdigroup.com)

Cavendish Capital Markets
Limited
020 7220 0500

Ed Frisby/Seamus Fricker- Corporate Finance

Andrew Burdis/Sunila de Silva - Corporate Broking

SDI designs and manufactures scientific and technology products for use in
digital imaging and sensing and control applications including life sciences,
healthcare, astronomy, plastics and packaging, manufacturing, precision
optics, measurement instrumentation and art conservation. SDI operates through
its subsidiaries: Atik Cameras, Synoptics, Graticules Optics, Sentek, Astles
Control Systems, Applied Thermal Control, MPB Industries, Chell Instruments,
Monmouth Scientific, Uniform Engineering, Scientific Vacuum Systems, Safelab
Systems, LTE Scientific, Fraser Anti-Static Techniques and Peak Sensors.

Corporate expansion is via organic growth within its subsidiary companies and
through the acquisition of complementary, niche technology businesses with
established reputations in global markets.

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

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