Location Sciences - Board and strategic update
01/06/2022 07:00
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RNS Number : 4670N Location Sciences Group PLC 01 June 2022
1 June 2022
This announcement contains inside information for the purposes of Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the
publication of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public domain.
Location Sciences Group PLC
("Location Sciences" or the "Company" or the "Group")
Board and strategic update
Location Sciences (AIM: LSAI) announces that, further to the Company's
announcement on 21 June 2021, both Mark Slade and David Rae will leave their
positions as employees and directors of the Company on 22 June 2022. Simon
Wilkinson and Nigel Burton will continue in their capacities of Non-Executive
Chairman and Non-Executive Director respectively.
The Company will retain access, on a consultancy basis via a third-party
contractor, to the necessary skills and resources to enable the ongoing
operation of both Location Sciences generally, and the Verify business as the
board continues to assess the strategic options for it.
In parallel with this process and in line with the Company's strategy to
increase shareholder value, the board continues to explore various options for
acquisition candidates. Rather than focusing on the quickest strategy, the
board remains committed to securing an opportunity that maximises shareholder
value and growth in the medium to long term. Whilst the current economic
climate and the ongoing conflict in Ukraine have made the process more
challenging than anticipated, the board is confident in delivering shareholder
value.
Simon Wilkinson, Non-Executive Chairman, said "It has been a challenging few
months at a macro-economic level but we are grateful to our supportive
shareholders and feel confident of success in our strategic review of Verify
and our search for the right acquisition candidate. I am grateful to Mark and
David for their support and involvement in the Company."
For further information please contact:
Location Sciences Group PLC via
Allenby Capital
Simon Wilkinson, Chairman
Allenby Capital Limited (Nominated Adviser) Tel: +44 (0)20 3328
5656
David Hart
Vivek Bhardwaj
Turner Pope Investments (TPI) Ltd (Broker) Tel: +44 (0)20 3657
0050
James Pope
Andy Thacker
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