Change of Name

RNS Number : 6498X

Acal PLC

28 November 2017

 

28 NOVEMBER 2017

Acal plc

Change of name to discoverIE Group plc

Acal plc announces today that it is changing its name to discoverIE Group plc (the "Company" or the "Group"). The change of company name has been filed with Companies House.

The Company's ticker symbol will change to "DCSV" from "ACL", and trading of the Company's shares under the new name and new DSCV ticker will commence tomorrow, 29 November 2017, at 8.00 am.

This change reflects the transformation of the Group over recent years into a higher margin business focused on design and manufacturing, and more importantly, the future ambitions of the Board in this direction.

discoverIE, or 'discover innovative electronics', emphasises the Group's focus on being a business that is highly differentiated, customised, and that enables customer solutions. The Group's operating business names, which customers know and rely on, remain unchanged, preserving trusted brands. 

For further information please contact:

Instinctif (Financial PR)	020 7457 2020
Mark Garraway   Helen Tarbet   James Gray

Notes to Editors:

About Acal plc

Acal (LSE: ACL) is an international group of businesses that designs, manufactures and supplies innovative components for electronic applications. With effect from 28 November, the Company name changes to discoverIE Group plc (LSE: DSCV).

The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally. With in-house engineering capability, we design components to meet customer requirements, which are then manufactured and supplied, usually on a repeating basis, for their ongoing production needs. This generates a high level of recurring revenue and long term customer relationships.

By focussing on key markets which are driven by structural growth and increasing electronic content, namely renewable energy, transportation, medical and industrial connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with targeted complementary acquisitions.

The Group employs c.3,800 people and its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India and North America.

The Group is listed on the Main Market of the London Stock Exchange and is a member of the FTSE Small Cap Index, classified within the Electrical Components and Equipment subsector, and has revenue of c. £400m. Over the last five years, revenue and underlying earnings per share have doubled.

 

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