Change of Name

RNS Number : 9306S

Sprue Aegis plc

28 June 2018

 

28 June 2018 

Sprue Aegis plc (renamed FireAngel Safety Technology Group plc)

(the "Company" of the "Group")

Change of name to FireAngel Safety Technology Group plc

Further to the Result of AGM announcement earlier today regarding the Company's Annual General Meeting and its approved name change, Sprue Aegis plc, one of Europe's leading developers and suppliers of home safety products, announces that its name has now changed to FireAngel Safety Technology Group plc. From 8.00 a.m. tomorrow, the Company's ordinary shares will trade on AIM under the new name of FireAngel Safety Technology Group plc and the new TIDM of 'FA.' (previously SPRP).

The Company's ISIN (GB0030508757) and SEDOL (3050875) will remain the same and existing share certificates will remain valid and will not be replaced.

At 7.00 a.m. tomorrow, the Company's new website will go live at www.fireangeltech.com.

The Company's change of name reflects the transformation of its operations and the shift in strategic direction that has taken place over the last eighteen months.  This has been driven by the Company's renewed focus on its core brand, FireAngel, and on the development of innovative home safety technology, including its connected home product offering. The Company will also be working to consolidate its brands in order to leverage FireAngel, which is widely-recognised in the industry.

Going forward, the Company's key strategic priorities are:

·     To build on the Company's strong existing market presence, capitalise on its technology and exert greater end-to-end autonomy over the product offering, all underpinned by strong IP protection and in-house product development capabilities;

·     To accelerate the development of the Group's technology driven, own branded FireAngel products, seeking entry into new territories and markets;

·     To leverage Flex's manufacturing footprint and expertise, benefitting from supply chain capabilities and efficiencies going forward; and

·     To capitalise on the high growth potential of the Company's 'Connected Homes' proposition, and increase sales and reach of the FireAngel Connect system.

For further information, please contact:

FireAngel Safety Technology Group plc	02477 717700
Graham Whitworth, Executive Chairman Neil Smith, Group Chief Executive
Stockdale Securities Limited	020 7601 6100
Tom Griffiths
Vigo Communications Jeremy Garcia / Fiona Henson	020 7390 0238

 

Notes to Editors

About FireAngel Safety Technology Group plc ("FireAngel")

FireAngel's mission is to protect, save and improve our customers' lives by making innovative, leading edge technology simple and accessible.  FireAngel is one of the market leaders in the European home safety products market and launched its own connected homes product proposition at the end of 2016. 

FireAngel's principal products are smoke alarms, CO alarms and accessories.  The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories.  Products are sold under FireAngel's leading brands of FireAngel, FireAngel Pro, SONA, AngelEye and FireAngel Connect. 

For further product information, please visit: www.fireangeltech.com  

 

END

 

 

CANEAFKPAASPEFF