Notice of GM

RNS Number : 7382X

BrainJuicer Group PLC

24 February 2017

 

Press Release

24 February 2017

BrainJuicer Group PLC (AIM: BJU)

("BrainJuicer" or "the Company")

Notice of General Meeting

BrainJuicer announces today that it is holding a General Meeting ("GM") on 22^nd March 2017 at 2 p.m. to approve resolutions to change the Company's name and to put in place a new Long Term Incentive Plan ("LTIP") for its senior managers.

Name change

Shareholders are being asked to approve the Company's proposed change of name from BrainJuicer Group PLC to System1 Group PLC.

Over the last 16 years BrainJuicer has built an international business by applying Behavioural Science to predicting profitable marketing.  At the heart of Behavioural Science is the notion that people use instinct, intuition and emotion to make most decisions.  This is known as, "System 1" thinking.  Having adopted the System 1 approach to market research and successfully launched our System1 advertising agency (System1 Agency), we believe the Company's growth will be better served by adopting the System1 name across the group.  Within the System1 Group, we will have System1 Agency to produce profitable marketing and System1 Research to predict it.  As the 'System1' name becomes synonymous with 'profitable growth', the business will be well positioned to help clients move towards "5-star marketing" and the growth that comes with it.

If approved, the rebranding will be launched with effect from 1 April 2017, and the Company's AIM symbol will change from "BJU" to "SYS1".

Long Term Incentive Plan

We are also seeking shareholder approval for a new LTIP to help retain and motivate up to seven senior executives as the Company begins its next chapter.

The new LTIP will run for a four-year period, commencing on 1 April 2017 with vesting dependent on achievement of stretching performance conditions.  Maximum vesting requires gross profit in the Company's financial year ending 31 March 2021 of 2.85 times that in the year ending 31 March 2017 (30% p.a. compound growth).  In addition, there are profit after tax and share price underpins (the profit after tax underpin being 20% p.a. compound growth at the maximum level).  Maximum vesting will result in dilution of up to 8.5% of the Company's issued share capital as at 1 January 2017.

The GM notice has been mailed to shareholders and can also be found in the investor section of the Company's website at www.brainjuicer.com. 

For further information, please contact:

BrainJuicer Group PLC	[phone]
John Kearon, Chief Executive Officer
James Geddes, Chief Financial Officer
Canaccord Genuity Limited (Nomad)	[phone]
Simon Bridges / Emma Gabriel

 

END

 

 

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