ITE Group PLC ITE Group plc rebrands to Hyve Group plc (1571N)
September 20 2019 - 8:11AM
UK Regulatory
TIDMITE
RNS Number : 1571N
ITE Group PLC
20 September 2019
ITE Group plc
("ITE" or the "Group")
ITE Group plc rebrands to Hyve Group plc
The Company is pleased to announce its change of name and new
brand identity, Hyve Group plc. This rebrand reflects the evolution
of the Group's business resulting from its Transformation and
Growth programme (TAG) announced in May 2017 and now nearing
completion.
The Group's vision, enabled through the TAG programme, is to
create the world's leading portfolio of content-driven, must-attend
events delivering an outstanding experience and ROI for customers.
Through the TAG investment we have built a dynamic scalable
platform, improved processes and enhanced systems, completed the
acquisitions of Ascential Events and Mining Indaba, as well as the
disposal or closure of over 150 events. These significant
developments have led to the creation of a stronger and more
diversified portfolio, with a focus on market-leading events.
Introducing Hyve Group plc
Hyve Group plc is a next generation global events business whose
purpose is to create unmissable events, where customers from all
corners of the globe share extraordinary moments and shape industry
innovation. Hyve Group is a fundamentally different business and
has transformed into:
-- A global presence not purely focused on emerging markets
-- A centralised operating model not a decentralised federal organisation
-- A premium product business not a geographic market-share led company
-- A Group of market-leading events rather than a broad portfolio of mixed quality
Unveiling Hyve Group plc today, Mark Shashoua, CEO, said:
"Today, we launch our new brand identity, Hyve, to move us into
the future, with a clear vision, well defined strategy and a
renewed energy. We have transformed the Group into a next
generation global events business, and our new name is a better
reflection of who we are now and captures our ambitions for our
future.
Since taking the helm in 2016, the Group has fundamentally
changed from a portfolio of decentralised, emerging markets events
into a global business, focused on running market-leading events,
wherever they may be in the world.
We are now in a better position than ever before. Following four
years of decline, FY18 was the second consecutive year of
like-for-like growth, including double-digit growth from our Top 10
events, and was the first year of growth in both volume and yield
since 2014.
As Hyve, we are on a mission to deliver unmissable events. We
believe our model gives us a distinctive competitive edge as
customer needs evolve and we aspire to set the standard for our
industry."
Change of TIDM, website address and other information
It is expected that trading in the Company's shares will
commence under the new name Hyve Group plc and the new ticker code
"HYVE" with effect from 24 September 2019. The Company's ISIN
(GB0002520509) and SEDOL number (0252050) remain unchanged. The
Company's website will be available at www.hyve.group with effect
from today.
The change of name will not affect any shareholders' rights. No
new share certificates will be issued in respect of existing
ordinary shares held in certificated form. Shareholders should
retain their existing share certificates, which will remain
valid.
The name change has been approved by the board of directors, in
accordance with the Company's articles. The change of name was
registered with Companies House on 20 September 2019 and is now
effective.
For further information please contact:
Hyve Group plc
Melissa McVeigh, Group Director
of Communications +44 (0)20 3545 9000
FTI Consulting
Charles Palmer / Emma Hall /
Chris Birt +44 (0)20 3727 1000
About Hyve Group plc
Hyve Group plc is a next generation global events business whose
purpose is to create unmissable events, where customers from all
corners of the globe share extraordinary moments and shape industry
innovation. Hyve Group plc was announced as the new brand name of
ITE Group plc in September 2019, following its significant
transformation under the Transformation and Growth (TAG) programme.
Our vision is to create the world's leading portfolio of
content-driven, must-attend events delivering an outstanding
experience and ROI for our customers.
Where business is personal, where meetings move markets and
where today's leaders inspire tomorrow's.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCSEEFESFUSEEU
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