TIDMDSG
RNS Number : 2383X
Dillistone Group PLC
18 December 2019
Dillistone Group Plc
("Dillistone", the "Company" or the "Group")
Corporate Update & Board Changes
Dillistone Group Plc, the AIM quoted supplier of software and
services to the recruitment industry, today announces a corporate
update and changes to its Board of Directors.
Corporate Update
As announced earlier in February this year, Dillistone is
undertaking a reorganisation to streamline its corporate structures
and operations to achieve efficiencies across the business. The
result will be a simplified structure of legal entities and team
structures that have cross-Group responsibilities, rather than the
previous siloed approach which was the legacy of the acquisitions
made by the Group over its history. These changes will come into
effect on 31 December 2019.
As anticipated, the costs of the reorganisation remain in line
with our estimate of less than GBP600k and are being funded via the
Group's existing resources and the GBP500k bank loan secured in
June 2019. The benefits of the Group's reduced cost base will be
seen from 2020 onwards.
The newly combined business units will be trade under the name
"Ikiru People". The Company will however remain named Dillistone
Group Plc
Board Changes
To complement the structural changes being made to the Group a
number of changes are being made to the Board.
Mike Love will assume the post of Non-Executive Director on 31
December 2019 after 9 years as Chairman, to enable greater time for
his other business interests. Giles Fearnley, currently
Non-Executive Director, will assume the role of Chairman from this
date. Giles is currently Managing Director Bus for First Group plc.
His previous roles included being Chief Executive of Prism Rail Plc
and Chairman of both the Association of Train Operating Companies
and the Confederation of Passenger Transport.
In addition, Rory Howard and Alistair Milne will leave the
business and stand down from the Board on 31 December 2019 and Paul
Mather and Simon Warburton will join the Board from 1 January
2020.
Jason Starr, CEO of Dillistone Group Plc commented:
"I'd like to place on record our appreciation of the efforts of
Mike, Rory and Alistair.
"Mike joined the Group on flotation, initially as a NED, before
stepping up to the Chairmanship in 2010. His guiding hand and sage
advice have been of huge value to us.
"I've worked alongside Rory for more than 20 years and he played
a major part in developing us from a business with a handful of
staff in a backstreet office in the east end of London, to a global
business employing more than 100 staff.
"Alistair has been a driving force behind the restructuring of
the business, despite the full knowledge that it would likely lead
to his role no longer being required. His commitment to the
business, its staff and its clients, and his all-round
professionalism during this period has been outstanding.
"Paul Mather and Simon Warburton joined Dillistone through the
acquisition of Voyager in 2011 and have been instrumental in
designing the new operating model being adopted through the
reorganisation.
"Dillistone has grown through acquisition so a step change in
how those previously separate businesses operate was required. This
reorganisation has already shown significant benefits and will be
for the benefit of all stakeholders. With Simon and Paul stepping
up to the main board, and with the reorganisation now largely
complete, the Board is very excited about the future."
Giles Fearnley, added:
"I also add my thanks to Mike, Rory and Alistair for their work
and contribution over many years with the business. I am very much
looking forward to working with the management team who are focused
on delivering growth for Dillistone."
Pursuant to paragraph (g) of Schedule 2 of the AIM Rules, the
following disclosures in respect of Paul Mather and Simon Warburton
are made in accordance with their appointment to the Board of
Dillistone Group Plc.
Paul Mather
Paul is currently Operations Director of the Voyager Software
division and becomes Chief Operating Officer of the Group with
effect from 1 January 2020.
Current directorships of Paul Mather:
Gatedtalent Ltd
ISV Software Ltd
FCP Internet Holdings Ltd
FCP Internet Ltd
Voyager Software Ltd
Paul Brian Mather (aged 43) holds options over ordinary shares
in the Company as follows: 4,627 options exercisable at 77.8 pence,
95,000 options exercisable at 58 pence and 6,896 options
exercisable at 52.2 pence, 75,000 options exercisable at 33 pence.
In addition, his spouse who is also an employee of the Company has
options of 8,896 exercisable at 52.2 pence and 35,000 at 33 pence.
He also holds32,177 ordinary shares in the Company. Mr. Mather has
confirmed that there is no further information to be disclosed
pursuant to paragraph (g) of Schedule 2 of the AIM Rules.
Simon Warburton
Simon is currently Managing Director of the Voyager Software
division and will become Chief Technology Officer for the Group
from 1 January 2020
Current directorships of Simon Warburton:
FCP Internet Ltd
FCP Internet Holdings Ltd
Woodcote Software Ltd
Voyager Software Ltd
Simon Warburton (aged 43) holds options over ordinary shares in
the Company as follows: 37,500 options exercisable at 77 pence,
4,627 options exercisable at 77.8 pence, 95,000 options exercisable
at 58 pence, 6,896 options exercisable at 52.2 pence and 40,000
options exercisable at 33 pence, in addition to holding 77,290
ordinary shares in the Company.
Enquiries:
Dillistone Group
Plc
Mike Love Chairman Via Walbrook PR
Jason Starr Chief Executive
Julie Pomeroy Finance Director
WH Ireland Limited (Nominated
adviser)
Managing Director - Corporate
Chris Fielding Finance 020 7220 1650
Walbrook PR
Tom Cooper /
Paul Vann 020 7933 8780
0797 122 1972
tom.cooper@walbrookpr.com
Notes to Editors:
Dillistone Group Plc (www.dillistonegroup.com) is a leader in
the supply and support of software and services to the recruitment
industry. Dillistone operates through the Ikiru People brand
(www.IkiruPeople.com).
The Group develops, markets and supports the FileFinder,
Infinity, Evolve, ISV and GatedTalent products.
Dillistone was admitted to AIM, a market operated by the London
Stock Exchange plc, in June 2006. The Group employs over 100 people
globally with offices in Basingstoke, Southampton, Frankfurt, New
Jersey and Sydney.
Recently published content from across the Group includes:
Everything you need to know about skills testing:
https://www.isv.online/skills-testing-faq/
What makes a top executive search firm?
https://www.gatedtalent.com/insights/top-executive-search-firms/
Management Analytics in Recruiting:
https://www.voyagersoftware.com/recruitment-software-blog/the-intelligent-approach/
FileFinder Client Success Charter:
https://www.dillistone.com/client-success/.
How to be headhunted!
https://www.gatedtalent.com/insights/headhunters-find-a-job/
Linkedin Profile Writing:
https://www.gatedtalent.com/optimization-services/
GDPR Testing and Training:
https://www.isv.online/blog/gdpr-training-and-assessment-what-you-need-to-know/
Literacy Skills Assessment:
https://www.isv.online/testing/literacy-skills-tests/
What are the current trends in Executive Search in Australia?
https://www.gatedtalent.com/insights/executive-search-in-australia-understanding-the-landscape/
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END
BOACKODBKBDBDBD
(END) Dow Jones Newswires
December 18, 2019 02:00 ET (07:00 GMT)
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