REG - Synectics PLC - Appointment of CEO and Award of Options

SynecticsAnnouncement

18/11/2024 07:00

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RNS Number : 5191M  Synectics PLC  18 November 2024

 

 18 November 2024

 

 

Synectics plc

("Synectics" or the "Company")

 

Appointment of Chief Executive Officer

and

Award of Options

 

Synectics plc (AIM: SNX), a leader in advanced security and surveillance
systems, is pleased to announce the appointment of Amanda Larnder, currently
interim Chief Executive Officer and Chief Financial Officer, as its Chief
Executive Officer with immediate effect.

 

Following the sudden passing of Paul Webb, the Company's former Chief
Executive Officer, in late August 2024, Amanda has been instrumental in
ensuring that the Company continues its positive growth trajectory in what has
been a difficult period for the Company and its employees.

 

After a period of evaluation, led by Bob Holt, Synectics' Non-Executive Chair,
the Board unanimously agreed to Amanda's appointment as Chief Executive
Officer.  Amanda has been Synectics' Chief Financial Officer since July 2022
when she rejoined the Company and has over 16 years' experience in leadership
roles, including within Synectics.

 

Amanda will continue to oversee the Company's finance and administrative
functions until her replacement as Chief Financial Officer is appointed, the
search for which is underway. The Company will release further announcements
on this process as appropriate.

 

Award of Options

 

Upon her appointment, Amanda has been granted options over, in aggregate,
1,000,000 ordinary shares of 20 pence each in the Company under a new long
term incentive plan, which vest on a straight-line basis based on share price
performance from £2.90 (0% vesting) to £6 (100% vesting) and are exercisable
from 30 November 2027. The options are exercisable at 20 pence per share. This
new plan, the Executive Growth Plan, has been set up by the Company's
Non-Executive Directors, who consider that it will help to drive long-term
sustainable growth and build shareholder value. The vesting date of the
options which were awarded in late April 2024 to Bob Holt upon his appointment
as Non-Executive Chair has been extended to align with this award.

 

The award of the options set out above to Amanda Larnder and the extension of
the vesting date of Bob Holt's existing options, in aggregate, is deemed to be
a related party transaction pursuant to the AIM Rules for Companies (the
"Related Party Transaction"). The independent Directors of the Company, being
Dr Alison Vincent CBE, Andrew Lockwood and Jon Kempster, consider, having
consulted with the Company's nominated adviser, Shore Capital and Corporate
Limited, that the Related Party Transaction is fair and reasonable so far as
the shareholders of the Company are concerned.

 

Bob Holt, Non-Executive Chair of Synectics, commented:

 

"On behalf of the Board, I am delighted that Amanda has been appointed as the
Company's permanent Chief Executive Officer, after what has been a challenging
period for everyone at Synectics. Not only has Amanda provided both stability
and strength, but her knowledge of, enthusiasm and strategic vision for
Synectics have been central in this decision.

 

The Board and I look forward to continuing to work closely with Amanda as we
focus on implementing our strategy, ultimately delivering growth to all
stakeholders."

 

 

For further information, please contact:

 

 Synectics plc                                                             Tel: +44 (0) 114 280 2828

 Amanda Larnder, CEO and CFO                                               www.synecticsplc.com

                                                                         (https://url.avanan.click/v2/___http:/www.synecticsplc.com___.YXAxZTpzaG9yZWNhcDphOm86NTYwYTllNmRlNmEwMDZmMWYwNTkzZGIxYTRhYzMwZGI6NjpmZDdmOjU4MjU3MDliNWJmOWIyMGFjMjkxZGZhYzcwNzk1ZjUxY2FkNGM5NWQyYWU4ODAxMTUxOTg3ZDc1ZmNkYjk3NWI6cDpG)
 Claire Stewart, Company Secretary

 email: info@synecticsplc.com (mailto:info@synecticsplc.com)

 Shore Capital                                                             Tel: +44 (0) 20 7408 4090
 Corporate Advisory - Tom Griffiths / David Coaten / Rachel Goldstein

 Corporate Broking - Fiona Conroy

 Vigo Consulting                                                           Tel: +44 (0) 20 7390 0230

 Jeremy Garcia / Fiona Hetherington / Peter Jacob

 synectics@vigoconsulting.com (mailto:synectics@vigoconsulting.com)

 

 

About Synectics plc

 

Synectics (AIM: SNX) is a leader in advanced security and surveillance systems
that help protect people, property, communities, and assets around the world.

 

The Company's expertise is in providing solutions for specific markets where
security and surveillance are critical to operations. These include gaming,
oil and gas, public space, transport, and critical infrastructure.

 

Synectics has deep industry experience in these markets and works closely with
customers to deliver solutions that are tailored to meet their needs.
Technical excellence, combined with decades of experience and long-standing
customer relationships, provides fundamental differentiation from mainstream
suppliers and makes the Company a stand-out in its field.

 

Find out more at www.synecticsplc.com
(https://url.avanan.click/v2/___http:/www.synecticsplc.com___.YXAxZTpzaG9yZWNhcDphOm86NTYwYTllNmRlNmEwMDZmMWYwNTkzZGIxYTRhYzMwZGI6NjpmZDdmOjU4MjU3MDliNWJmOWIyMGFjMjkxZGZhYzcwNzk1ZjUxY2FkNGM5NWQyYWU4ODAxMTUxOTg3ZDc1ZmNkYjk3NWI6cDpG)

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