Matchtech Group plc to become Gattaca plc

RNS Number : 3919E

Matchtech Group PLC

18 July 2016

 

18 July 2016

Change of Name

Matchtech Group plc to become Gattaca plc

Matchtech Group plc ("Matchtech" or the "Group" or "the Company" ), the specialist Engineering and Technology (IT & Telecoms) recruitment agency, announces that, subject to shareholder approval, the Company intends to rename as Gattaca plc.

The name change is the next step in the Group's development, following the acquisition of Networkers International plc in April 2015. The acquisition brought Telecoms and Technology expertise to Matchtech's existing strength in Engineering and Technology. It has enabled the Group to capitalise on the convergence of the skill sets demanded by these markets and allowed Matchtech to internationalise its existing service offering by leveraging Networkers' existing global infrastructure.

The proposed change follows extensive research conducted by the Group of its employees, candidates and current and potential clients as to their view of the constituent brands that make up the enlarged Group. This research showed that the Group brand (Matchtech Group plc) and the operating engineering brand (Matchtech) sharing the same name could be a source of confusion.

For this reason the name of the Group will change to Gattaca and the structure will be simplified.

The Company will continue to trade through its core brands Matchtech and Networkers. Matchtech will be retained as the core Engineering specialist brand, with Cappo covering oil & gas recruitment services in international markets. Networkers will be retained as the core Technology specialist brand, with Provanis continuing to operate in the Oracle market sector.

At Group level, Gattaca will support the delivery capability of the specialist brands by providing the appropriate infrastructure, governance and international reach.  

A Shareholder Circular convening a Notice of a Meeting of shareholders is expected to be despatched shortly.

Assuming the necessary shareholder approvals are obtained, it is expected that the Matchtech Group plc name change will become effective on 1 September 2016 and that from
2 September 2016 trading in the Group's shares will be conducted under the new name of Gattaca plc. The new ticker will be GATC.L. Shareholders should note that for those shareholders holding their shares in certificated form new share certificates will not be issued.

Commenting, Brian Wilkinson, Group Chief Executive, said:

"This is an important step in the evolution of our Company. As Gattaca, we will have a strong, integrated Group identity, capable of offering clients end-to-end recruitment solutions. Importantly however, we will retain and develop the established and specialist Matchtech and Networkers brands, both of which are leading players in their respective engineering and technology fields.

"These sectors are vital to the future growth of the global economy, with continuing high demand across many skills sets, most of which have supply side shortages. As internet connectivity becomes ubiquitous and industries converge our new structure puts us in a unique position to support our customers across a range of emerging niche skills, converging technologies and diverse geographies."

For further information please contact:

Matchtech Group plc	[phone]
Brian Wilkinson, Chief Executive Officer     Tony Dyer, Chief Financial Officer
Citigate Dewe Rogerson	[phone]
Rob Newman / Nick Hayns
Numis Securities Limited	[phone]
Michael Meade / Kevin Cruickshank

 

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