Board Changes

RNS Number : 2386B

Cloudcoco Group PLC

09 June 2021

 

CloudCoCo Group plc

("CloudCoCo", "the Group" or "the Company")

Board Changes

CloudCoCo (AIM: CLCO), a UK provider of IT and communications solutions to businesses and public sector organisations, announces that Mike Lacey has informed the Board of his decision to step down as Chief Financial Officer (CFO) and Board member for personal reasons. Mike has been instrumental in strengthening the Group's finance function since joining in January 2020 and we wish him every success in his future endeavours.

Darron Giddens, previously Group Finance Director, will replace Mike as CFO and be appointed to the Board with immediate effect. Darron has been with the Group since 2009, having previously had stints at Trust House Forte Group, Boston Consulting Group and IDN Telecom Plc. He qualified as a Chartered Management Accountant with Gan Life & Pensions plc and holds an MBA from Aston University.

Simon Duckworth, Non-Executive Chairman, commented:

"Together with my Board colleagues, I would like to thank Mike for his valuable contribution over the last 17 months, especially given the challenging external circumstances the business has faced for the majority of this time. Mike has played an important role in stabilising the Group's finances and paving the way for long-term, sustainable growth and we wish him good health and every success going forward.

"At the same time, we welcome Darron to the Board, and acknowledge all that he has already contributed to the business in recent years. At this stage in our reinvigoration it's important to have a seamless transition, and we are delighted that this move will help achieve that."

Contacts
CloudCoCo	via Alma PR
Mark Halpin, CEO
Darron Giddens, CFO
N+1 Singer (nominated adviser & broker)	[phone]
Peter Steel
Alma PR (financial PR adviser)	[phone]
David Ison	[e-mail]
Josh Royston
Kieran Breheny

About CloudCoCo

Supported by a team of industry experts and harnessing a diverse ecosystem of partnerships with blue-chip technology vendors, CloudCoCo makes it easy for businesses and public sector organisations to work smarter, faster and more securely by providing a single point of purchase for their connectivity, telephony, cyber security, cloud, IT hardware and support needs.

CloudCoCo has offices in Warrington and Leeds in the UK.

www.cloudcoco.co.uk

Schedule Two Paragraph (g) Disclosures

The following information is being disclosed pursuant to Rule 17 and Schedule Two Paragraph (g) of the AIM Rules for Companies:

Darron Giddens, aged 53, holds or has held the following directorships or partnerships in the past five years:

Current Directorships/ Partnerships

Cloudcoco Limited
Cloudcoco Managed IT Limited
Cloudcoco Holdings Limited
Pinnacle CDT Limited
Ancar-B Technologies Limited

Past Directorships/ Partnerships

Weston Communications Limited     Cloudcoco Cloud Services Limited
Online Computer Developments Limited                                Multilayer Limited
Maclellan IT Limited                                                                    Sports Club Telecom Limited
Pinnacle Telecom Limited                                                           Pinnacle Mobile Limited
Loyal IT Limited                                                                             Colloquium Limited
Solwise Telephony Limited  Sipswitch Limited
Accent Telecom South Limited 

Darron holds 2,946,150 ordinary shares of one penny each in the capital of the Company ("Ordinary  Shares") equal to approximately 0.6% of the Company's issued share capital and holds 1,280 Ordinary 'A' shares in CloudCoCo Holdings Limited, issued as part of the Long Term Incentive Plan as announced on 16 February 2017.

Darron has also been granted 7,000,000 options over Ordinary Shares pursuant to the Company's EMI Share Option Scheme (as announced on 23 November 2020).

Save as disclosed above there are no additional disclosures to be made in accordance with Rule 17 or Schedule Two paragraph (g) of the AIM rules regarding Darron Giddens.

 

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