Dods Group PLC Change of Name and Share Capital Reorganisation
RNS Number : 8720T
Dods Group PLC
30 March 2021
30 March 2021
Dods Group plc
("Dods", the "Company" or "the Group")
Change of Name and Proposed Share Capital Reorganisation
Dods Group plc (AIM: DODS), the data and intelligence business,
announces proposals to change the parent company's name along with
a simplification of its share capital through a reorganisation.
The Board will be writing to shareholders to seek approval for
the change of the ultimate parent company name from Dods Group plc
to Merit Group plc.
The acquisition of Meritgroup Limited in 2019 gave a new focus
to the Group's strategic direction and changed the business mix.
The Group's strategy is to target the fast growth data and
intelligence sector with market leading technological solutions
whilst using its strength in expert human analysis to add further
The Group intends to continue to integrate the excellent data
technology solutions acquired with Merit with the data and content
analysis strengths within Dods. The trading recovery in the second
half of the financial year just ending provides a strong base for
growth. The Board is expecting to maintain an above market level of
growth that will also transform the Group's profitability through a
mix of net income and margin growth . The Board believes these
changes to the Company's strategic direction and ambition will be
emphasised and enhanced by changing the parent company's name to
Merit Group plc.
About the new Merit Group
Merit Group is a data and intelligence business. The Group uses
proprietary technology and Artificial Intelligence (AI) to gather
and enhance complex and hard to acquire data whilst using its team
of experts to provide analysis and intelligence covering a wide
range of political, regulatory and business data.
The Group has two operating divisions which will continue to use
their existing branding, Dods and Merit.
Merit is a technology enabled business that gathers, organises
and enriches the data that informs some of the world's leading b2b
intelligence brands. The business also researches prospect and
customer data to make it rich, compliant and relevant for defined
target audiences. It provides cost efficient technology solutions
and resources for clients.
Dods specialises in content and data within policy, public
affairs and politics. The business is focused on the gathering and
analysis of political data in the UK and Europe. Dods is a leading
provider of intelligence, data, media, events and training in its
Share Capital Reorganisation
The Board will use the opportunity of holding a General Meeting
to approve its proposed name change to also seek shareholder
approval for a simplification of its share capital structure
through a reorganisation and to update the Group's Articles of
Association. Further details will be contained in a circular to
shareholders which the Board expects to circulate in the coming
Mark Smith, Non- Executive Chairman, commented:
"The change of the Group's name heralds the start of an exciting
new chapter. The Merit business we acquired in 2019, when combined
with Dods' existing strengths in business intelligence, enables the
new Merit Group to harness the power of technology, human analysis
and artificial intelligence to unlock valuable data, keeping our
clients ahead of the competition."
This announcement is released by Dods Group plc and contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) 596/2014 ("MAR"), and is disclosed in
accordance with the Group's obligations under Article 17 of
For the purposes of MAR and Article 2 of Commission Implementing
Regulation (EU) 2016/1055, this announcement is being made on
behalf of the Group by Simon Bullock, Chief Financial Officer.
For further information, please contact:
Dods Group plc
Mark Smith - Non-Executive Chairman 020 7593 5500
Canaccord Genuity Limited (Nomad and Broker)
Bobbie Hilliam 020 7523 8150
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(END) Dow Jones Newswires
March 30, 2021 02:01 ET (06:01 GMT)