Last checked at 8 Jan 2019 07:00
8 January 2019
Aquis Exchange PLC
("Aquis", the "Company" or the "Group")
Trading Update and Board Appointment
Trading Update
Aquis Exchange PLC (AQX.L), the exchange services group, which operates the pan-European cash equities trading MTF, Aquis Exchange, and develops and licenses exchange software to third parties, is pleased to confirm that it has traded ahead of market expectations for the year ended 31 December 2018 ("FY18") and expects to deliver revenues of £4.0 million for FY18, representing a 100 per cent increase on the prior year. The Board anticipates making further progress during 2019 and expects to perform in line with expectations; however during the first quarter Aquis's customers may face a more challenging external environment due to Brexit uncertainty.
The Group expects to announce its audited results for FY18 in early April 2019.
Board appointment
The Company is also pleased to announce that it has appointed electronics engineer and serial entrepreneur Glenn Collinson to its Board, as an independent non-executive director (NED), subject to FCA approval.
Mr. Collinson started his career at Racal and worked for Motorola and Texas Instruments before co-founding Cambridge Silicon Radio in 1998. There he served as an executive director and helped grow the company from a concept to a $3 billion market capitalisation entity in 2006 (as CSR Plc) and one of the biggest players in the Bluetooth market. Since leaving CSR he has held a number of executive and non-executive directorships in UK and French companies - both public and private - that specialise in technology. He is a member of the Institute of Engineering and Technology and holds an MSc in electronics as well as an MBA from Cranfield University.
Commenting on the appointment, Niki Beattie, Chair of Aquis, said:
"I am very pleased to welcome Glenn to the Board of Aquis at this important time in our development as a public company. His background as an engineer and his years of developing and marketing technology products will be invaluable to the business. Crucial too is the first-hand experience he brings of running companies in both the UK and France, the two countries in which Aquis Exchange has a physical presence."
Glenn Collinson added:
"I am very excited to be joining Aquis Exchange - I think the space where financial markets and technology meet will continue to be a huge growth sector and an area where there is real scope for transformative innovation. I look forward to being part of that and helping Aquis continue its journey towards becoming the leading exchange services group."
Pursuant to Schedule Two Paragraph (g) of the AIM Rules, the following information is disclosed inrespect of Glenn Collinson (aged 55).
Current appointments | Appointments in the last 5 years |
VSORA SAS | Blu Wireless Technology Limited |
SDL PLC | Inside Secure S.A. |
Glenn Collinson Consulting Limited | EMA EBT Limited |
Wolfson Microelectronics plc (now Cirrus Logic International (UK) Ltd) |
Microemissive Displays Group plc, a company of which Glenn Collinson was a director until it was placed into administration on 25 November 2008, underwent a creditors' voluntary liquidation on 9 November 2009, prior to being dissolved on 9 May 2016. There was no shortfall to creditors.
There is no other information regarding Mr. Collinson required to be disclosed under the AIM Rules for Companies.
This announcement contains inside information for the purposes of EU Regulation 596/2014.
ENQUIRIESAquis Exchange PLC
Alasdair Haynes, CEOJonathan Clelland, CFO and COOTel: +44 (0) 20 3597 6321
Liberum Capital Limited (Nominated Adviser and Broker)
Clayton BushChris ClarkeKane CollingsTel: +44 (0) 20 3100 2000
Website:
http://www.aquis.eu