IPPlus PLC Update on Company Changes & Change of Name (4523L)
October 03 2016 - 1:00AM
UK Regulatory
TIDMIPP
RNS Number : 4523L
IPPlus PLC
03 October 2016
This announcement repeats information contained within the
announcement by IPPlus Plc at 13.00 hours on Friday 30 September
2016 under RNS number 3669L and updates information relating to the
change of name and the TIDM(1) under which the Group's shares are
admitted to trading on AIM.
3 October 2016
IPPlus PLC
("IPPlus" or the "Group")
Completion of Disposal,
Change of Name and Registered Office,
and Board Changes
IPPlus Plc (AIM: IPP), the customer engagement specialist
focussed on secure payment solutions, is pleased to announce that
following the successful passing of all resolutions put to the
general meeting held on 30 September 2016 (the "General Meeting"),
the disposal of IPPlus (UK) Limited and CallScripter Limited (the
"Disposal") has now completed and as a result IPPlus has exited its
call centre operations.
New Focus and Available Resources
Following completion and including the proceeds of a property
sale, the continuing Group now has approximately GBP4.8 million in
net cash. A further announcement will be made in relation to the
proposed special dividend of GBP1 million to shareholders. The
Group will now focus its efforts and resources on the significant
opportunities in secure payments presented by its PCI-PAL products
and services, in which both the client base and transaction volumes
have been growing.
Change of Name and Registered Office, New Trading Symbol
("PCIP")
Following shareholder approval to the change of name at the
General Meeting held on 30 September 2016, the Group is pleased to
announce that the new name of PCI-PAL PLC will today be registered
at Companies House. The new name will reflect the sole focus of the
Group on its secure payments solutions business. The Company also
confirmed on Friday 30 September 2016 that it had changed its
registered office with immediate effect to Unit 7, Gamma Terrace,
Masterlord Estate, Ipswich IP3 9FF.
It is expected that trading in the Company's shares on AIM under
the new name of PCI-PAL PLC and under the TIDM(1) "PCIP" will
commence with effect from 8.00am on Tuesday 4 October 2016.
Certificated shares held in the old name of IPPlus PLC will remain
valid.
Board Changes
To support the planned growth in its business, PCI-PAL PLC is
pleased to announce the appointment of James Barham and Andy
Francombe to its Board of Directors. Andy Francombe joins as Chief
Financial Officer and James Barham is promoted to Commercial
Director. The appointments took effect following completion of the
Disposal on 30 September 2016.
James Christopher Barham, aged 34, graduated from Bath Spa
University and worked for Hiscox Plc and Call Connection Ltd before
joining IPPlus in 2008, where he held several senior management
positions before being appointed to the Board of IPPlus (UK)
Limited in 2015. James has been instrumental in the growth of the
telecoms and payments businesses and the ultimate evolution of the
PCI-PAL product suite. James is responsible for sales, operations
and commercial development.
Andrew ('Andy') Kevin Francombe, aged 53, is a Fellow of the
Institute of Chartered Accountants in England & Wales having
qualified with Ernst & Young. Andy has held senior finance
roles for The Coca-Cola Company in Europe and Macquarie Bank, in
addition to being Finance Director at Conran Restaurants and Deputy
Finance Director at Schweppes Beverages.
Finally, as outlined in the Company circular published in
connection with the disposal, Stuart Gordon has resigned from the
Board with immediate effect. The Board would like to thank Stuart
for his many years of service and wishes him well in his future
endeavours.
William Catchpole, Chief Executive Officer of IPPlus Plc,
commented:
"This marks the beginning of our next phase of growth and is a
very exciting time for the business. The opportunities to grow our
secure payments operations are without doubt considerable. We have
an excellent team in place and cash resources to pursue our
strategy."
Additional information required under the AIM Rules in relation
to the newly appointed Directors is included below.
Notes
1 Tradable Instrument Display Mnemonic, the code used to identify a traded quoted security
For further details, please contact:
IPPlus Plc Via Walbrook PR
William Catchpole - Chief Executive Officer
Andy Francombe - Chief Financial Officer
N+1 Singer (Nomad & Broker)
Aubrey Powell +44 (0) 20 7496 3000
Walbrook PR +44 (0) 20 7933 8780
+44 (0) 7971 221 972
Tom Cooper / Paul Vann tom.cooper@walbrookpr.com
About IPPlus Plc:
The Group currently has a single principal business, PCI-PAL,
which provides products and services that enable organisations to
securely take customer payments, safely store customer data, in
particular credit card data, and to de-risk their business
activities from the threat of data loss and cybercrime. The Group's
shares are admitted to trading on AIM under the symbol, "IPP"and
will shortly become admitted under the new symbol "PCIP".
Regulatory Information
The following additional details in relation to the appointments
of James Barham and Andy Francombe are disclosed in accordance with
Schedule 2(g) of the AIM Rules:
Name/ Company Date of Appointment Date of Resignation
James Barham
Current Directorships:
PCI-PAL Limited October 2011 -
IP3 Telecom Limited January 2011 -
Directorships held within last 5 years:
IPPlus (UK) Limited January 2015 September 2016
Andy Francombe (Current Directorships)
Coca-Cola UK Pension -
Trustees Limited 2010
PrimeFd LLP August 2016 -
Aten Group Limited September 2016 -
There is no further information required to be disclosed in
accordance with Schedule 2(g) or Rule 17 of the AIM Rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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