Appointment of CFO

Pennant International Group PLC

20 November 2024

 

PENNANT INTERNATIONAL GROUP PLC

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

Appointment of CFO

Pennant International Group plc (AIM:PEN), the systems support software and training solutions company, is pleased to announce the appointment of Darren Wiggins to the Board as the Group's Chief Financial Officer on a permanent basis with immediate effect. Mr Wiggins had been serving as the Company's interim CFO since 16 September 2024.

Mr Wiggins is a chartered accountant with over 20 years' experience, having previously held senior executive positions in finance and operational roles within Meggitt Aerospace and Melrose plc.

Ian Dighé, Chair, commented:

"Having already made a very positive impact since joining the Company in September, I am delighted to welcome Darren to the Pennant Board.

"Darren's wealth of experience will be significant in the re-shaping and development of the Company as a software-focussed business and I, and the rest of the Board, look forward to working with him to realise the Group's full potential."

Further disclosures pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.

Darren John Wiggins, aged 43, is currently or has previously been a director or partner of the following companies or partnerships within the past five years.

Current directorship/partnership	Previous directorship / partnership within the past five years
-	Meggitt Pension Plan Trustees Limited

Mr Wiggins does not hold an interest in the Company's share capital.

Enquiries:

Pennant International Group plc	www.pennantplc.com
David Clements, Company Secretary	[phone]
Zeus (Nomad)	www.zeuscapital.co.uk
Mike Coe / Sarah Mather (Investment Banking)	[phone]
Cavendish Capital Markets Limited (Broker)	www.cavendish.com
Ben Jeynes / Callum Davidson / George Lawson (Corporate Finance)	[phone]
Michael Johnson / Dale Bellis / Sunila de Silva (Sales and Corporate Broking)
Walbrook PR (Financial PR)	[e-mail]
Tom Cooper Joe Walker	[phone] Mob: [phone]

Notes to editors:

Pennant International Group plc (AIM: PEN) is a technology driven, leading global provider of system support software and services, technical services, and training solutions. It supports its global customer base in the design, development, operation, maintenance, and training of complex assets, to maximise operational and maintenance efficiency.

Its key markets include Aerospace, Defence and Rail, and adjacent safety-critical markets such as Shipping, Nuclear and Space.

 The Group addresses the market through three key business lines:

•    Systems support software: a suite of software tools designed to help clients: manage and use complex data; ensure equipment availability at optimal cost; and comply with industry standards.  Its Integrated Product Support (IPS) and Integrated Logistics Support (ILS) software and services equips customers with powerful market-leading toolsets to manage, model and utilise complex equipment data.

•      Training systems: provide hardware, software and virtual solutions, critical skills training for maintainers and operators of aircraft, ships and land systems.

•      Technical services: support all Pennant's software and training solutions including consultancy, support and maintenance, training and bespoke development.

The Company's full product suite encompasses consultancy, technical documentation, rail services, training services, and bespoke engineering solutions.

Pennant is strategically focused on sustainable recurring revenue and profitability growth, shifting its model towards high margin software and services. Against a climate of rising defence budgets and the burgeoning technological complexity of military, aviation and rail platforms, the demand for these solutions is expected to grow substantially.

Headquartered in Cheltenham, UK, the Group operates worldwide, with offices in Europe, North America and Indo-Pacific, serving markets with high barriers to entry often in regulated industries.

 

END