Picture of Strix logo

KETL Strix News Story

0.000.00%
gb flag iconLast trade - 00:00
IndustrialsSpeculativeSmall CapContrarian

REG - Strix Group PLC - AGM Statement and Board Appointment

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250710:nRSJ4464Qa&default-theme=true

RNS Number : 4464Q  Strix Group PLC  10 July 2025

10 July 2025

Strix Group Plc

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

 

AGM Statement and Board Appointment

 

Strix Group Plc (AIM:KETL), the global leader in the design, manufacture and
supply of kettle safety controls and other components and devices involving
water heating and temperature control, steam management and water filtration,
will host its Annual General Meeting ("AGM") at 9:00am (BST) today at the
Company's Head Office, located at Forrest House, Ronaldsway, Isle of Man IM9
2RG.

 

AGM Statement

 

During the AGM, the Company will present a review of its previously announced
annual results for the year ended 31 December 2024, highlighting an increase
in adjusted revenues to £145.7m at CER and adjusted profit before tax to
£18.7m, alongside a decrease in net debt to £63.7m.

 

The Group confirms that a competitive refinancing process will be formally
initiated in the coming weeks to provide cost effective and flexible funding
to support the Company's medium-term investment-driven growth aspirations.

 

A Pre-Close Trading Update for the six-month period ended 30 June 2025 will be
announced on 30 July 2025.

 

Board Appointment

 

The Group is pleased to announce that Rachel Pallett, the current Chief
Commercial Officer of the Controls and Billi divisions, has been appointed to
the Board as Chief Commercial Officer with effect from 10 July 2025. Rachel
has gained over 30 years of international business experience since completing
her degree in Electrical and Electronic Engineering from Imperial College.
Prior to joining Strix in October 2023, Rachel held a series of senior
executive positions at Spirax Group plc, where she was Director of Business
Development for Steam Specialties (responsible for the design, development and
commercialisation of new products) and served eight years as Regional Director
EMEA for Watson-Marlow. Earlier in her career, Rachel held several leadership
and technical positions at Renishaw plc, the precision metrology and
healthcare technology group.

 

Mark Bartlett, Chief Executive Officer, commented: "We are delighted to
welcome Rachel to the Board of Directors. Since joining the senior management
team in 2023, she has made a significant contribution to Strix. Her deep
industry expertise, coupled with her track record in developing international
businesses, will be invaluable to the Company moving forward."

 

The following information is disclosed pursuant to Schedule Two, paragraph (g)
of the AIM Rules for Companies in relation to Rachel Marie Pallett, aged 56:

 

 Current Directorships       Directorships held over the past 5 years
 Billi UK Limited            Spirax-Sacro Limited

 Billi New Zealand Limited   Watson-Marlow SL

 Billi Financial Pty Ltd     Watson-Marlow Austria GmbH

 Billi Australia Pty Ltd     Watson-Marlow Sp. z.o.o.

 Billi R & D Pty Ltd         Watson-Marlow s.r.o.

                             Watson-Marlow Finland Oy

                             Watson-Marlow SAS

                             Watson-Marlow Kft

                             Watson-Marlow Srl

                             Watson-Marlow Norge AS

                             Watson-Marlow LLC

                             Watson Marlow FZCO
                             Watson-Marlow NV

                             Watson-Marlow Limited

                             Watson-Marlow Bredel SA (Pty) Ltd

                             Watson-Marlow Ltd

 

Rachel Pallett currently holds no ordinary shares in the Company, however as
part of her remuneration package the Company has granted her 449,496 unvested
options over ordinary shares.

 

Save as disclosed above, there is no further information required to be
disclosed in accordance with Rule 17 and Schedule Two, paragraph (g) of the
AIM Rules for Companies.

 

 

For further enquiries, please contact:

 

 Strix Group Plc                                      +44 (0) 1624 829829
 Mark Bartlett, CEO
 Clare Foster, CFO

 Zeus (Nominated Advisor and Joint Broker)            +44 (0) 20 3829 5000
 Nick Cowles / Jordan Warburton (Investment Banking)

 Dominic King (Corporate Broking)

 Stifel Nicolaus Europe Limited (Joint Broker)        +44 (0) 20 7710 7600
 Matthew Blawat / Francis North

 Gracechurch Group (Financial PR and IR)              +44 (0) 20 4582 3500
 Heather Armstrong / Claire Norbury

 

Information on Strix

Founded in 1982, Isle of Man based Strix, is a global leader in the design,
manufacture and supply of kettle safety controls and other components and
devices involving water heating and temperature control, steam management and
water filtration.

Strix's core product range comprises a variety of safety controls for small
domestic appliances, primarily kettles. Kettle safety controls require
precision engineering and intricate knowledge of material properties in order
to repeatedly function correctly.

Strix has built up market leading capability and know-how, expanding into
complementary products and technologies. The Group's brands include Aqua
Optima, LAICA and Billi providing our customers with market leading water
solutions on a global basis.

Strix is quoted on the AIM Market of the London Stock Exchange (AIM:KETL).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGMRLMPTMTJMBBA

Recent news on Strix

See all news