REG - SysGroup PLC - Board Change, Update & Change of Registered Office

SysGroupAnnouncement

06/02/2024 07:00

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RNS Number : 0943C  SysGroup PLC  06 February 2024

6 February 2024

 

SysGroup plc

 

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

 

 Board Changes, Progress Update and Change of Registered Office

 

 

SysGroup plc (AIM:SYS), the technology partner for delivery and management of
cloud, data and security to power Artificial Intelligence ("AI") and Machine
Learning ("ML") transformation, announces a change to its Board of Directors,
provides a progress update and notification of change of Registered Office.

Board Change - Chief Financial Officer

The Board is delighted to announce the appointment of Owen Phillips as the
Chief Financial Officer and as a director of the Company. After five years'
service, Martin Audcent has decided to step down from his role as Chief
Financial Officer and member of the Board to pursue other interests. These
changes will take effect on 11 March 2024 and Martin will continue to support
the business until 30 June 2024 to ensure a smooth transition.

 

Owen currently serves as a Director in the finance function at Matillion
Limited. Headquartered in Manchester, the company is a leading provider of
cloud data integration tools and one of only a handful of Manchester tech
unicorns, with a valuation of $1.5 billion at the last funding round.
Previously, Owen held various financial management positions in the data/tech
sector as well as working in professional practice at Grant Thornton UK LLP.

 

Progress Update

 

The Company has performed well during the third quarter with double digit
revenue growth versus comparable period last year. We continue to build strong
revenue pipeline as the new sales organisation is embedded. The AI/ML
offerings are gaining momentum with a pipeline of opportunities with both new
and existing customers. We have already signed our inaugural AI/ML engagement
to support a drug discovery company on their AI data journey. We have also
recently concluded a three-year agreement valued at over £500,000 to deliver
a market-leading security solution to a public sector organisation via G-Cloud
Framework. The full value of the contract will be recognised in the fourth
quarter.

 

Closing of Liverpool Office and Change of Registered Office

 

The Company's Liverpool office will be closing at the end of February when its
lease expires, and with effect from 1 March 2024 the Company's Registered
Office will be 55 Spring Gardens, Manchester M2 2BY.

 

Heejae Chae, Executive Chairman of SysGroup, commented,

 

"We continue to strengthen the senior management team with individuals with
invaluable experience and expertise from industry leading companies. Owen
joined Matillion in 2018 at its start-up phase with 60 employees. Matillion is
a global tech unicorn with over 500 employees around the world.
His wealth of experience in helping Matillion with its growth and maturity
will be invaluable in our journey.

 

I would like to take this opportunity to express our appreciation to Martin
for his valuable contribution since 2018 and extend our best wishes for his
future endeavours."

 

 

 

In accordance with Schedule 2(g) of the AIM rules, Owen Rhodri Phillips (aged
43) has not held any directorships in the last 5 years.

Owen holds no shares in the Company.

 

There is no further information on Owen required to be disclosed under
Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

 

Following the appointment of Owen Phillips and the resignation of Martin
Audcent, the Board will comprise Heejae Chae (Executive Chairman); Owen
Phillips (Chief Financial Officer); and Mike Fletcher, Mark Reilly and Paul
Edwards (Non-Executive Directors).

 

 

 

 For further information please contact:

 SysGroup plc                             Tel: 0333 (tel:0333) 101 9000

 Heejae Chae, Executive Chairman

 Zeus (Nominated Adviser and Broker)      Tel: 0161 831 1512

 Jordan Warburton

 Nick Cowles

 Alexandra Campbell-Harris

 Nick Searle

 

 

About SysGroup

SysGroup plc is a managed service provider of end-to-end data solutions
enabling us to take our customers on their AI data journey. The Group offers
an integrated set of modern technologies that collectively meets our customers
end-to-end data needs including connectivity, cloud hosting, delivery,
analytics and governance of customer data, as well as a security layer for
users and applications.

 

The Group has offices in Bristol, Edinburgh, London, Manchester and
Newport.

 

For more information, visit http://www.sysgroup.com
(http://www.sysgroup.com/)

 

 

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