TIDMGLOO
RNS Number : 0298J
Gloo Networks PLC
15 December 2015
Gloo Networks plc
("Gloo" or "the Company")
Gloo Networks appoints Vivendi's Arnaud de Puyfontaine as
Non-Executive Chairman
London, 15 December 2015 - The Board of Gloo Networks plc, a
technology company established to acquire and operate companies in
the media sector, is pleased to announce the appointment of Arnaud
de Puyfontaine, as Non-Executive Chairman of the Company, effective
immediately.
Mr de Puyfontaine is Chief Executive of Vivendi, the French
media group. He is also a Non-Executive Director of Schibsted, a
Scandinavian media group.
Along with the other Directors, he will be responsible for the
overall management and strategic direction of Gloo. His extensive
experience of media (and especially digital media) will be key to
the successful implementation of the Company's strategy.
Rebecca Miskin, Gloo Chief Executive Officer said: "Arnaud's
vision and strategic thinking will be of enormous benefit to Gloo
as we execute our strategy. He is one of the leading figures in the
global media industry and we're delighted to have secured someone
of his calibre to our Board. He will bring a tremendous depth of
insight and experience into the boardroom."
Arnaud de Puyfontaine said: "I am delighted to be joining Gloo
Networks at this critical stage in the company's development, and
when the structural changes in the media industry are generating a
wealth of opportunities. Rebecca and her team have the energy,
skills and experience to transform businesses and create real,
sustainable value for Gloo's shareholders."
Enquiries:
Liberum Capital Limited (Nominated Adviser and Joint Broker)
Tel: +44 20 3100 2000
Neil Elliot
Chris Clarke
Jonathan Wilkes-Green
Numis Securities Limited (Joint Broker)
Tel: +44 20 7260 1000
Lorna Tibian
Nick Westlake
James Sarjeant
Temple Bar Advisory
Tel: +44 20 7002 1080
Ed Orlebar/Tom Allison
+44 7738 724 630/+44 7789 998 020
Notes to Editors
Arnaud de Puyfontaine
Arnaud de Puyfontaine joined Vivendi in November 2013 as Senior
Executive Vice President, Media and Content activities and was
appointed Chief Executive Officer of Vivendi in June 2014. Vivendi
S.A. (market cap. c.EUR26.4bn) is the owner of Universal Music
Group, the world leader in music, and Canal+ Group, a European
leader in pay TV and European TV and film production.
Previously, Mr. de Puyfontaine was employed by the Hearst
Corporation as Chief Executive Officer Hearst UK. In 2011, he led
the acquisition and integration of 102 brands from the Lagardère
Group, before being appointed Managing Director of Western Europe
in August 2013. Whilst at Hearst Corporation Arnaud worked
alongside Gloo's Chief Executive Officer Rebecca Miskin, and
successfully managed an iconic media portfolio which included
Cosmopolitan, Elle, Good Housekeeping and Harper's Bazaar.
Prior to this, Mr de Puyfontaine was Chairman and Chief
Executive Officer of Editions Mondadori France, becoming General
Head of all digital business for the Mondadori Group.
Mr de Puyfontaine joined Emap France in 1995, where as a member
of the founding team, he was responsible for Télé Poche, Studio
Magazine and establishment of the Emap Star Division. He was
appointed Chief Executive Officer of Emap France in 1998 and joined
the board of Emap Plc in 2000.
Arnaud de Puyfontaine is a graduate of the ESCP, the Multimedia
Institute and Harvard Business School.
About Gloo Networks Plc
Gloo listed on the AIM market of the London Stock Exchange in
August, successfully raising GBP30 million from a range of
financial institutions including Marwyn, Invesco, Standard Life,
Ruffer and City Financial.
Gloo intends to acquire and operate trusted consumer brands in
the media sector, initially with an enterprise value in the range
of GBP250 million to GBP1 billion. The Company is led by digital
transformation experts Rebecca Miskin (Chief Executive Officer),
formerly Digital Strategy Director and Change Agent at Hearst
Magazines UK, and Juan Lopez-Valcarcel (Chief Product and
Operations Officer), who was previously Chief Digital Officer for
Pearson International.
Gloo is seeking to benefit from the changing relationship
between consumer brands, media owners and the advertising industry;
this relationship continues to experience structural change, driven
by the evolving prevalence of internet usage and the increasing
adoption of data analytics, allowing businesses to better
understand and serve consumers. The convergence of the internet and
media sectors has created multiple investment opportunities with
numerous companies or businesses identified within Gloo's target
universe.
Gloo intends to acquire businesses that appeal to attractive
socio-economic groups, and through the use of data and technology,
transform these businesses to fully realise their digital
potential, thereby unlocking value and increasing
profitability.
Further regulatory disclosures
Directorships
Other than as disclosed below, there are no further disclosures
to be made in accordance with paragraph (g) of Schedule Two of the
AIM rules for Companies:
-- Arnaud Nicolas Philippe Maxime Georges Roy de Puyfontaine
(51) is currently a Director or Partner of:
o Vivendi SA
o Group Canal+ SA
o Studiocanal SA
o Universal Music France SAS
o Kepler SAS
o Schibsted ASA
o Innit SAS
o Melty Group SAS
o SCI Puyf
o Maximepuyf SC
o SCI Renaissance de Riviere Salee 1
o Quentinpuyf SC
o Inespuyf SC
o Alicepuyf SC
-- During the previous five years, Arnaud de Puyfontaine has
served as (but is no longer appointed as) a Director or Partner
of:
o GVT Participaçoes SA
o The National Magazine Company Limited
o Hearst-Rodale UK Limited
o Handbag.com Limited
o Hearst Magazines UK 2012-1 Ltd
o F.E.P. (UK) Limited
o COMAG (Condé Nast Magazine Distributors Limited)
o Compagnie Internationale de Presse and de Publicité CIPP
o Hearst Magazines, S.L.
o Hearst Magazines Italia S.p.A
o Netdoctor.co.uk Ltd
o Netdoctor Limited
o Natmag Investments Limited
Dealings
Puyfamily Société Civile, a company in which Arnaud de
Puyfontaine has a life interest and his children have a residual
interest, has subscribed for 10 A ordinary shares ("A Shares") in
Gloo's wholly owned subsidiary Gloo Networks Jersey Limited for an
aggregate amount of GBP2,000.
In certain circumstances the A Shares are exchangeable for
ordinary shares in the Company. Further information regarding the A
Shares is contained in the Company's admission document dated 11
August 2015 which is available on the Company's website. The
subscription does not increase the aggregate amount that may become
payable by the Company in respect of all of the A Shares and
reallocates such aggregate amount (if payable) between the holders
of such A Shares. The scheme provides its participants with a
reward based on the creation of value for shareholders, provided
that a preferential return of 10% per annum to shareholders has
been achieved. The maximum aggregate value to the participants
under the scheme is 15% of the shareholder value created, less the
value of outstanding awards under any other employee incentive
arrangements implemented by the Company or its group.
Following this subscription, Rebecca Miskin, Juan
Lopez-Valcarcel, Puyfamily Société Civile and Marwyn Long Term
Incentive LP (in which James Corsellis and Mark Brangstrup Watts
have a beneficial interest) hold 38.5%, 15.4%, 7.7% and 38.5% of
the A Shares in issue respectively.
-- Ends --
This information is provided by RNS
The company news service from the London Stock Exchange
END
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