TIDMCLCO
RNS Number : 2386B
Cloudcoco Group PLC
09 June 2021
CloudCoCo Group plc
("CloudCoCo", "the Group" or "the Company")
Board Changes
CloudCoCo (AIM: CLCO), a UK provider of IT and communications
solutions to businesses and public sector organisations, announces
that Mike Lacey has informed the Board of his decision to step down
as Chief Financial Officer (CFO) and Board member for personal
reasons. Mike has been instrumental in strengthening the Group's
finance function since joining in January 2020 and we wish him
every success in his future endeavours.
Darron Giddens, previously Group Finance Director, will replace
Mike as CFO and be appointed to the Board with immediate effect.
Darron has been with the Group since 2009, having previously had
stints at Trust House Forte Group, Boston Consulting Group and IDN
Telecom Plc. He qualified as a Chartered Management Accountant with
Gan Life & Pensions plc and holds an MBA from Aston
University.
Simon Duckworth, Non-Executive Chairman, commented:
"Together with my Board colleagues, I would like to thank Mike
for his valuable contribution over the last 17 months, especially
given the challenging external circumstances the business has faced
for the majority of this time. Mike has played an important role in
stabilising the Group's finances and paving the way for long-term,
sustainable growth and we wish him good health and every success
going forward.
"At the same time, we welcome Darron to the Board, and
acknowledge all that he has already contributed to the business in
recent years. At this stage in our reinvigoration it's important to
have a seamless transition, and we are delighted that this move
will help achieve that."
Contacts
CloudCoCo via Alma PR
Mark Halpin, CEO
Darron Giddens, CFO
N+1 Singer (nominated adviser & broker) +44 (0)20 7496 3000
Peter Steel
Alma PR (financial PR adviser) +44 (0)20 3405 0205
David Ison cloudcoco@almapr.co.uk
Josh Royston
Kieran Breheny
About CloudCoCo
Supported by a team of industry experts and harnessing a diverse
ecosystem of partnerships with blue-chip technology vendors,
CloudCoCo makes it easy for businesses and public sector
organisations to work smarter, faster and more securely by
providing a single point of purchase for their connectivity,
telephony, cyber security, cloud, IT hardware and support
needs.
CloudCoCo has offices in Warrington and Leeds in the UK.
www.cloudcoco.co.uk
Schedule Two Paragraph (g) Disclosures
The following information is being disclosed pursuant to Rule 17
and Schedule Two Paragraph (g) of the AIM Rules for Companies:
Darron Giddens, aged 53, holds or has held the following
directorships or partnerships in the past five years:
Current Directorships/ Partnerships
Cloudcoco Limited
Cloudcoco Managed IT Limited
Cloudcoco Holdings Limited
Pinnacle CDT Limited
Ancar-B Technologies Limited
Past Directorships/ Partnerships
Weston Communications Limited Cloudcoco Cloud Services
Limited
Online Computer Developments Limited Multilayer Limited
Maclellan IT Limited Sports Club Telecom Limited
Pinnacle Telecom Limited Pinnacle Mobile Limited
Loyal IT Limited Colloquium Limited
Solwise Telephony Limited Sipswitch Limited
Accent Telecom South Limited
Darron holds 2,946,150 ordinary shares of one penny each in the
capital of the Company ("Ordinary Shares") equal to approximately
0.6% of the Company's issued share capital and holds 1,280 Ordinary
'A' shares in CloudCoCo Holdings Limited, issued as part of the
Long Term Incentive Plan as announced on 16 February 2017.
Darron has also been granted 7,000,000 options over Ordinary
Shares pursuant to the Company's EMI Share Option Scheme (as
announced on 23 November 2020).
Save as disclosed above there are no additional disclosures to
be made in accordance with Rule 17 or Schedule Two paragraph (g) of
the AIM rules regarding Darron Giddens.
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