REG - Vianet Group PLC - Directorate Changes

VianetAnnouncement

13/07/2022 07:16

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RNS Number : 2511S  Vianet Group PLC  13 July 2022

13 July 2022

Vianet Group plc

 

("Vianet" or the "Group")

 

Directorate Changes

 

Vianet Group plc (AIM: VNET), the international provider of actionable data
and business insight through devices connected to its Internet of Things
platform ("IOT") confirms that, as notified in the Company's full year results
and following the Company's AGM to be held later today, Chris Williams will
step down from the Board and that Stella Panu will be appointed to the Board
as a Non-Executive Director of the Group with effect from 14 July 2022 and
will chair the Company's Audit Committee.

Stella was a founding Partner of Maven Capital Partner UK LLP ("Maven"), an
investment management company, created after a management buyout of the
private equity business of Aberdeen Asset Management plc ("AAM") in 2009, and
led the business through to its sale in July 2021.  Maven has a focus on
venture growth and innovation and during her time at Maven, Stella led the AIM
Investment team and was the lead investor in private equity across Maven.
Having previously been at AAM and Seymour Pierce Ltd and had seats on numerous
company boards, Stella brings with her a wealth of private equity M&A and
AIM experience.

Stella has also previously worked for Pricewaterhouse Coopers, The World Bank,
and Raifessen Investment Fund and holds a degree in Economics and an MA in
Applied Economics and Statistics.

James Dickson, Chairman, said:

 

"Firstly, I'd like to extend my thanks to Chris on behalf of myself and the
executive team at Vianet for his advice, support and input into the business
over many years. The business has evolved significantly over his time with us
and in the last couple of years managed its way through significant challenges
that global markets have experienced.  I wish Chris all the very best for the
future.

"I am delighted that we have appointed Stella as a Non-Executive Director and
Chair of the Audit Committee. Her financial background, City experience,
combined with expertise across finance, strategy, and M&A activity will be
invaluable to the Board and the Executive team as we continue to focus on
delivering our growth strategy."

 

Regulatory disclosures

In accordance with Schedule 2(g) of the AIM Rules for Companies, Stella Panu,
aged 48, holds or has held the following directorships or partnerships in the
past five years.

 

 Current directorships             Previous directorships within the past five years

 Movere Limited*                   Maven Capital Partners UK LLP
 EZINVST4U Ltd*                    Maven GMLF CI LLP
 Metropol Communications Limited   GeninCode plc
 Assecurare Limited                The GP Service (UK) Ltd
 Maven Capital (Telfer House) LLP  Briard Holdings Limited
 SPSAV Trading Limited*            Perfect Consulting Limited
                                   Legal Reports and Services Limited
                                   Torridon Capital Limited
                                   Litcomp Limited
                                   Elite Business Development Limited
                                   Manor Retailing Limited
                                   Fairmont Holdings Limited
                                   Sopco Management Ltd
                                   Campsie Captial Limited
                                   Dalglen (No.1148) Limited

* dormant companies

 

In conjunction with her role at Maven, Stella is or has been a director of
several cash shells. Before 2016, venture capital trusts ("VCT"), of which
Maven manages numerous, were permitted to invest in cash shells whereby
respective investments were considered to be qualifying investments for the
purposes of VCT.  These cash shells were required to make an acquisition of a
trading business within 2 years.  If such an investment wasn't completed
within the 2-year time frame then the cash shell was required to return
cash/investment to respective shareholders and the entity placed into a
voluntary liquidation.  Such companies, which Stella was a director at such
time or in the 12 months preceding such event, are as follows:

 

Briard Holdings Limited

Metropol Communications Limited

Assecurare Limited

Manor Retailing Limited

Dunning Capital Limited

 

Stella was previously a director of Dalgen (No. 1148) Limited.  This company
was one of Maven's VCT investments.  The trading assets were sold to an
acquiror in an asset sale and purchase transaction.  Following the sale of
the assets, the company was placed into voluntary liquidation and was
dissolved on 7 June 2019.  There were no outstanding amounts owed to
creditors.

 

Stella was previously director of Space Student Living Limited, a company in
which Maven was invested. The Company was placed into liquidation on 12
December 2012 and subsequently dissolved on 9 December 2016.  There were no
amounts outstanding to creditors.

 

Stella was previously a director of Wey Bridging Ltd from 25 January 2010 to
26 November 2010.  The company was placed into liquidation via a creditor's
voluntary liquidation on 2 November 2011. There were no amounts outstanding to
creditors.

 

- Ends -

 

Enquiries:

 Vianet Group plc
 James Dickson, Chairman & Interim CEO      Tel: +44 (0) 1642 358 800

 Mark Foster, CFO                           www.vianetplc.com (http://www.vianetplc.com)

 Cenkos Securities plc
 Stephen Keys / Camilla Hume                Tel: +44 (0) 20 7397 8900
                                            www.cenkos.com (http://www.cenkos.com)

Media enquiries:

 Yellow Jersey PR
 Sarah Hollins               Tel: +44 (0)7764 947 137

 Henry Wilkinson             Tel: +44 (0)7951 402 336

 vianet@yellowjerseypr.com   www.yellowjerseypr.com (http://www.yellowjerseypr.com)

 

About Vianet

Vianet Group is a leading provider of actionable management information and
business insight created through combining data from our smart Internet of
Things ('IOT') solutions and external information sources.

Since Admission to AIM in 2006, the Group has grown from its core beer
monitoring business both organically and through strategic acquisitions to
widen its offering and develop new businesses, especially in vending telemetry
and contactless payment solutions particularly for the premium coffee sector.

Servicing over 300 customers across the world and rendering live data to our
IOT platform from over 250,000 connected machines daily, Vianet is one of the
largest business to business (b2b) connected solutions providers in Europe
with established long-term relationships with blue chip customers and growing
recurring revenues which are over 85% of our total revenues.

In our Smart Machines division, we connect a single data gathering device with
its own on-board communication capability to a customer's asset or system. The
device then sends data back via our IOT platform to cloud based servers. The
technology was originally developed for automated retailing machines; however,
the flexibility and functionality of the device means the technology can be
applied to any machine which has the capability to output data. The device is
also used to connect our contactless payment solution and communicate payment
terms to our cloud-based payment services providers where that application is
also required.

The Smart Zones division is where we connect multiple data gathering devices
into one or more systems or assets with the data from those devices being
communicated back to our IOT platform and cloud-based servers via a single 3G
communications hub. The technology was originally developed for flow
monitoring devices, temperature sensors, and asset management in drinks
retailing but any data gathering device with a digital output could be
connected to the communications hub where required such as gaming machines,
utilities management and EPOS.

For further information, please visit www.vianetplc.com
(http://www.vianetplc.com/)

 

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