Board Changes

RNS Number : 7860L

Actual Experience PLC

09 July 2014

 



9 July 2014

Actual Experience plc

("Actual Experience" or "the Company")

Board Changes

Actual Experience plc (AIM: ACT), the analytics as a service company, is pleased to announce the following changes to its Board, effective immediately except as noted below.

Current Non-Executive Director Stephen Davidson will become the Company's Non-Executive Chairman, allowing Dave Page, previously Chairman and CEO, to focus on the CEO role with particular emphasis on setting the strategic direction of the business and ensuring effective execution on the growth opportunities following the Company's recent successful listing on AIM. It also reflects the Company's commitment to strong corporate governance. Stephen has a wealth of Board experience, holding positions in Inmarsat plc, Restore plc, Jaywing plc and is Chairman of AIM listed Datatec Ltd.

The former Director General of OFT and Oftel, Sir Bryan Carsberg, joins the Actual Experience board as a Non-Executive Director. Sir Bryan brings vast experience of the communications industry. He was instrumental in introducing competition regulation in the telecoms industry, has held board positions with Cable & Wireless, Inmarsat plc, RM plc and was Expert adviser to the Joint Parliamentary Committee to undertake pre-legislative scrutiny of the proposed new Communications bill. His expertise will be particularly valuable in Actual Experience's ongoing work in improving the digital quality of the internet and project work with Ofcom.

Robin Young will also be joining the Board as a Non-Executive Director with effect from 1 September 2014. Robin has extensive CIO, COO, technology and operations experience, serving at blue chip public companies including Mitchells & Butlers, GlaxoSmithKline, Proctor & Gamble and Ford Motor Company. He also brings considerable City knowledge and expertise having spent almost a decade with HBOS and Citigroup.

Having seen the Company successfully through its transition from a private to a public company, Nigel Mitchell is stepping down as Non-Executive Director with effect from 30 September 2014.

Dave Page, Actual Experience CEO commented: "I am delighted that Stephen Davidson has agreed to become Actual Experience's Non-Executive Chairman. Since joining the Company as a Non-Executive Director in February 2014 Stephen has provided much appreciated leadership and plc experience to the Board and his promotion to the Chair is a key part of our plans to build a new technology leader.

"We are equally delighted to welcome Sir Bryan and Robin to the Board. They bring a wealth of sector specific knowledge and experience while also providing the informed guidance that will be very important as we seek to deliver on the excellent potential of the business in the coming years.

"Last, but not least, I would like to thank Nigel for his considerable contribution, his integrity and wisdom, which, from the very beginning has helped us through the many challenges of an early stage business. We wish him every success in all future endeavours."

Stephen Davidson said: "I've been impressed by the progress made by the Company in the short time I have been on the Board and am delighted to accept the offer to increase my involvement by becoming Chairman. This also gives Dave more time to focus on the main task, of leading the team as they execute on the undoubted opportunity to build a major global technology company."

Issue of Options

As part of the Company's policy of incentivising its key management, the Board has resolved to grant options over ordinary shares in the capital of the Company ("Ordinary Shares") to each of Stephen Davidson and Sir Bryan Carsberg.

These options are exercisable at a price of 186.5 per Ordinary Share and expire 3 years from the date of vesting. Vesting occurs in equal annual instalments over the 3 year period from 9 July 2014. The following amounts of options have been granted to Stephen Davidson and Sir Bryan Carsberg:

Director	Options granted	Total options held
Stephen Davidson	70,000	70,000
Sir Bryan Carsberg	70,000	70,000

The following information falls to be disclosed under Schedule Two paragraph (g) of the AIM Rules for Companies ("AIM Rules"):

Stephen James Davidson (age 58)

Current Directorships	Past Directorships (last 5 years)
Restore plc Datatec plc Inmarsat plc Jaywing plc EBT Mobile China Ltd	Mecom Group plc ETV Media Group Ltd Orion Cable GmbH Tele Columbus GmbH

Stephen Davidson has a beneficial interest in 20,000 Ordinary Shares.

Robin Mark Young (age 48)

Current Directorships	Past Directorships (last 5 years)
CTGFT Ltd	Mitchells & Butlers Finance Plc Mitchells & Butlers Holdings Limited Mitchells & Butlers Leisure Holdings Limited Mitchells & Butlers Leisure Retail Limited Mitchells & Butlers Leisure Retail (No 2) Limited Mitchells & Butlers Retail Holdings Limited Mitchells & Butlers Retail Limited Mitchells & Butlers Retail Operating Company Limited Intertain (Dining) Limited

Sir Bryan Victor Carsberg (age 75)

Current Directorships	Past Directorships (last 5 years)
Inmarsat plc Novae Group PLC	RM plc Loughborough University Development Trust Ltd.

Enquiries:

Actual Experience plc  Dave Page, Chief Executive Officer Steve Bennetts, Chief Financial Officer	via Newgate Threadneedle
Nplus1 Singer Advisory LLP Shaun Dobson / Nick Donovan	Tel: [phone]
Newgate Threadneedle Limited Caroline Forde / Heather Armstrong / Josh Royston	Tel: [phone]

About Actual Experience plc

For organisations of any size and for broadband users at home, the only thing that really matters is whether they are hindered or enabled by the services they consume. Actual Experience improves the human experience of applications delivered across global Digital Supply-Chains, allowing people and businesses to work and interact more effectively.

 

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