Director resignation & appointment

RNS Number : 5344Y

Ubisense Group PLC

18 May 2016

 

18 May 2016

Ubisense Group PLC

("Ubisense" or "the Company")

Director resignation & appointment

Ubisense Group plc (AIM: UBI) announces that it is to expand the remit of its chairman, Peter Harverson, to become executive chairman with immediate effect, taking on responsibility for the strategy and operations of the Company as it enters its next phase of development.

After 14 years as CEO of the Company, Richard Green has decided for personal reasons that he should step back from his leadership role. Richard will assist the business to effect an orderly transition during his notice period which will run until the end of 2016. Richard has also resigned as a director of the Company with immediate effect. The Company is actively engaged in seeking his successor.

Additionally the company is pleased to announce the appointment of Oliver Scott as a non-executive director of the Company with immediate effect. Oliver Scott is a partner of, and holds a beneficial interest in, Kestrel Partners LLP ("Kestrel") which has an interest in 15,602,493 ordinary shares in the Company, which represents approximately 28% of the Company's issued share capital.

Additional information

Oliver Rupert Andrew Scott, 48, is or has been a director of the following companies:

Current directorships & partnerships

Adam Street Founders LP

ClearSpeed Technology Limited

Kestrel Co-Investments (A) LP

Kestrel GP Limited

Kestrel Investment Partners LLP

Kestrel Partners LLP

ZF Acquisitions Limited

Previous directorships

GlobalReach Kestrel PLC

KBC Advanced Technologies PLC

Kestrel is the investment manager to Kestrel Opportunities, a cell of Guernsey Portfolios PCC Limited ("Kestrel Opportunities"), and various other clients. Oliver Scott is also a shareholder in Kestrel Opportunities and is therefore deemed to have a legal beneficial interest in Kestrel Opportunities' entire legal holding in the Company.

Kestrel Opportunities holds (and consequently Oliver Scott is deemed to have a legal beneficial interest in) 11,475,035 ordinary shares in the Company. Kestrel's other discretionary clients, in which Oliver Scott has no legal beneficial interest, hold a further 4,127,458 ordinary shares in the Company.

Oliver has held director positions in certain other companies in which Kestrel Partners LLP have invested.

There are no further disclosures required pursuant to Schedule 2, paragraph (g) of the AIM Rules for Companies in respect of the appointment of Oliver Scott to the Board of the Company.

For further information contact:

Ubisense Group plc                                                                                        [phone]

Peter Harverson

Tim Gingell

Numis Securities Limited                                                                             [phone]

Simon Willis

Jamie Lillywhite

Toby Adcock

Redleaf Communications                                                                            [phone]

Rebecca Sanders-Hewett

David Ison

Harriet Lynch

About Ubisense

Ubisense (AIM: UBI), a global leader in Enterprise Location Intelligence solutions, helps manufacturing, communications and utility companies improve operational efficiency and boost profitability. Ubisense location intelligence systems bring clarity to complexity, enabling customers to revolutionise their operational effectiveness in a measurable way. Founded in 2002, Ubisense is headquartered in Cambridge, England, with offices in North America, France, Germany and Japan. For more information visit: www.ubisense.net.

 

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