Quartix Holdings PLC Directorate Changes and Trading Update (4109Z)
May 21 2021 - 1:00AM
UK Regulatory
TIDMQTX
RNS Number : 4109Z
Quartix Holdings PLC
21 May 2021
Quartix Holdings plc
("Quartix", "the Group" or "the Company")
Directorate Changes and Trading Update
Quartix Holdings PLC (AIM: QTX), a leading supplier of vehicle
tracking systems, is pleased to announce that, as noted in its
trading update of 11 January 2021, Emily Rees has been promoted to
Chief Financial Officer and joins the board of Quartix Holdings plc
as an Executive Director of the Company with immediate effect. She
replaces Daniel Mendis who has stepped down from the Company's
Board and who will now devote his time entirely to commercial and
operational matters.
Ms. Rees has spent the past three years in senior financial
positions within KRM (Great Britain) Limited (trading as Ecco
Shoes), most recently as Regional Head of Finance and HR for
Western Europe. Prior to this she worked for Pizza Express
(Restaurants) Limited and Tesco Stores Limited. Ms. Rees is a
member of the Chartered Institute of Management Accountants and
holds a BSc (Hons) in Government and Economics from the London
School of Economics and Political Science. Ms. Rees joined the
Company as Finance Director in April and will be based at the
Newtown Office as soon as it reopens.
Mr Mendis, who was previously Chief Operating and Financial
Officer, has taken up the new role of Group Commercial and
Operations Director in which he will focus specifically on
development of the fleet business, including responsibility for all
sales channels worldwide.
Trading Update
The Board is pleased to report that the Company has made good
progress in 2021 and that trading for the four-month period to 30
April 2021 was consistent with meeting market expectations for the
year*. A more detailed trading update will be provided in early
July.
Andy Walters, Chief Executive Officer of Quartix commented:
"We are delighted to welcome Emily to the Board at Quartix. The
financial and commercial experience she has gained in her previous
roles will be of great use in her new role. She has quickly
developed a good understanding of our business and we are pleased
to confirm her appointment to the Board.
Daniel Mendis has made a very significant contribution to the
Company since joining us in January 2018 and we are pleased to be
able to be able to offer him this new role, which is key to the
development of our business and his career path.
I look forward to continuing to work with Emily and Dan as we
continue to grow our fleet business."
* The Board believes that consensus market expectations for 2021
prior to this announcement, were as follows: Revenue: GBP25.6m;
Adjusted EBITDA GBP5.1m; Underlying Free Cash Flow (before
expenditure on 3G swap out in the US - see 2020 Annual Report):
GBP4.0m.
For further information, please contact:
Quartix (www.quartix.net)
Andrew Walters, Chief Executive 01686 806 663
finnCap (Nominated Adviser and Broker)
Matt Goode / Kate Bannatyne (Corporate
Finance)
Alice Lane (Corporate Broking) 020 7220 0500
Regulatory disclosures
In accordance with Rule 17 and Schedule 2(g) of the AIM Rules
for Companies, Emily Catherine Rees (formerly Emily Catherine
Roberts), aged 31, is, or has been within the last five years, a
director or partner in the following companies and
partnerships:
Current directorships and partnerships Past directorships and partnerships
held within the last five years
Manbey Mews Ltd N/A
------------------------------------
Emily does not have an interest in any Quartix shares. There is
no other information required to be disclosed under Rule 17 and
Schedule 2(g) of the AIM Rules for Companies.
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END
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