Directorate Change

RNS Number : 4685N

Bidstack Group PLC

30 September 2021

 

Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.

30 September 2021

Bidstack Group Plc

("Bidstack" or the "Company")

Directorate Change

Bidstack Group Plc (AIM: BIDS), the native in-game advertising group, announces that John McIntosh has informed the Board that he would like to resign from his executive board position as Chief Financial Officer with effect from 30 September 2021 in order to pursue other business opportunities. 

John joined the board on Bidstack's admission to AIM in September 2018 and has been a valued member of the management team during a transformational time for the Company.  The Board would like to thank John for his contribution and leadership during his tenure and wish him well for his future endeavours.

John has agreed to join Bidstack's advisory committee so that his knowledge will not be lost to the business.

Over the coming months Bidstack will be conducting an executive search to fill the board role vacated by John and will make further announcements on the progress of this process as necessary in due course.

In the meantime, Bhavesh Hirani, Head of Finance, will act as Interim Chief Financial Officer of the Company.  Bhavesh is a qualified Chartered Management Accountant and joined Bidstack in November 2020 from Reward Insight Ltd, an award winning customer loyalty platform.  He previously held roles with Havas and Playphone.  Bhavesh has an effective track record in scaling up high growth mid-market enterprises and leading strong performing teams. 

James Draper, CEO of Bidstack said:

"I would like to thank John for his tireless commitment to Bidstack and the Board over the past three years.  He has led the business from its early stages, through its successful admission to AIM in September 2018, to becoming a multi-market business across the UK, US and Latvia. 

"During John's tenure he has played a key role in strengthening our balance sheet, most recently with our £10.8 million fundraise in July 2021, having raised approximately £27 million since inception, strengthened our leadership team and made significant commercial progress from our formative strategic partnerships with Sports Interactive and Codemasters to our growing portfolio of titles as we scale.

"We have attracted a roster of premium brands through our agencies, approved partners and DSPs throughout this period.  John leaves the business well capitalised with a solid foundation to build upon, generating increasing revenues across an expanding portfolio of games, and well positioned to attract further games and create additional revenues.

"He has been a friend and mentor and I want to put on record how much his support has meant to me personally.

"I have enjoyed working closely with Bhavesh over the past months and I look forward to collaborating with him on the exciting opportunities that lay ahead."

John McIntosh, outgoing CFO of Bidstack, said:

"I have enjoyed the past three years working alongside James and the Board on making a market at the intersection of ad-tech and gaming.  I am proud of the evolution of the business as the market responds to the value proposition of providing a sustainable source of monetisation for publishers and a lucrative audience for premium brands to reach.  I wish James and the team every success as they grow the portfolio, enter new markets and scale the business."

-ENDS-

Contacts

Bidstack Group Plc James Draper, CEO	via Buchanan
SPARK Advisory Partners Limited (Nomad) Mark Brady / Neil Baldwin / James Keeshan	[phone]
Stifel Nicolaus Europe Limited (Joint Broker) Fred Walsh	[phone]
Buchanan Communications Limited Chris Lane / Stephanie Watson / Kim van Beeck [e-mail]	[phone]

Notes to editors

About Bidstack

Bidstack is an advertising technology company which provides dynamic, targeted and automated native in-game advertising for the global video games industry across multiple platforms. Its proprietary technology is capable of inserting advertisements within video games.  Bidstack's customers are games publishers and developers (on the supply side), and advertising agencies, brands and media-buying platforms (on the demand side).

 

END

 

 

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