Change of Name and Share Capital Reorganisation

RNS Number : 8720T

Dods Group PLC

30 March 2021

 

30 March 2021

Dods Group plc

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

Change of Name and Proposed Share Capital Reorganisation

Dods Group plc (AIM: DODS), the data and intelligence business, announces proposals to change the parent company's name along with a simplification of its share capital through a reorganisation.

The Board will be writing to shareholders to seek approval for the change of the ultimate parent company name from Dods Group plc to Merit Group plc.

The acquisition of Meritgroup Limited in 2019 gave a new focus to the Group's strategic direction and changed the business mix. The Group's strategy is to target the fast growth data and intelligence sector with market leading technological solutions whilst using its strength in expert human analysis to add further value.  

The Group intends to continue to integrate the excellent data technology solutions acquired with Merit with the data and content analysis strengths within Dods. The trading recovery in the second half of the financial year just ending provides a strong base for growth. The Board is expecting to maintain an above market level of growth that will also transform the Group's profitability through a mix of net income and margin growth . The Board believes these changes to the Company's strategic direction and ambition will be emphasised and enhanced by changing the parent company's name to Merit Group plc.

About the new Merit Group

Merit Group is a data and intelligence business. The Group uses proprietary technology and Artificial Intelligence (AI) to gather and enhance complex and hard to acquire data whilst using its team of experts to provide analysis and intelligence covering a wide range of political, regulatory and business data.

The Group has two operating divisions which will continue to use their existing branding, Dods and Merit.

Merit is a technology enabled business that gathers, organises and enriches the data that informs some of the world's leading b2b intelligence brands. The business also researches prospect and customer data to make it rich, compliant and relevant for defined target audiences. It provides cost efficient technology solutions and resources for clients.

Dods   specialises in content and data within policy, public affairs and politics. The business is focused on the gathering and analysis of political data in the UK and Europe. Dods is a leading provider of intelligence, data, media, events and training in its market. 

Share Capital Reorganisation

The Board will use the opportunity of holding a General Meeting to approve its proposed name change to also seek shareholder approval for a simplification of its share capital structure through a reorganisation and to update the Group's Articles of Association. Further details will be contained in a circular to shareholders which the Board expects to circulate in the coming days.

Mark Smith, Non- Executive Chairman, commented:

"The change of the Group's name heralds the start of an exciting new chapter. The Merit business we acquired in 2019, when combined with Dods' existing strengths in business intelligence, enables the new Merit Group to harness the power of technology, human analysis and artificial intelligence to unlock valuable data, keeping our clients ahead of the competition."

This announcement is released by Dods Group plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), and is disclosed in accordance with the Group's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Group by Simon Bullock, Chief Financial Officer.

For further information, please contact: 

Dods Group plc

Mark Smith - Non-Executive Chairman      020 7593 5500

www.dodsgroup.com

Canaccord Genuity Limited (Nomad and Broker)

Bobbie Hilliam  020 7523 8150

Georgina McCooke

 

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