Last checked at 9 May 2016 07:00
9 May 2016
Rightster Group plc
("Rightster", the "Group", or the "Company")
AGM Statement
Rightster, the global multi-platform network for digital video, is holding its Annual General Meeting at 12 noon today, at which the Chairman, Sir Robin Miller, will make the following statement:
"As we announced at the time of our final results last month our recent restructuring was completed ahead of time and has led to an additional £4 million in annualised cost savings being achieved. Our new strategy, in creating owner operated video channels, is a vital part in moving to profitability and greater value going forward. Current trading in 2016 is in line with management expectations.
After assisting the Chief Executive through the period of restructuring referred to above, our Chief Financial Officer Niall Dore has decided to move on and will leave the board on 20 May 2016. In order to ensure a smooth handover to his successor, he has agreed to remain available on a consultancy basis for an interim period. The board wishes to thank Niall for an invaluable contribution during this time.
He will be succeeded by Kevin Deeley, until very recently CFO at Quill Content Ltd, but better known to us as the former CFO of Base 79 now, part of Rightster. Kevin qualified as a Chartered Accountant with BDO, and has extensive operational and board experience in multi-national group environments, including senior finance positions with IGA Worldwide and PR Newswire. We welcome Kevin on board and look forward to his contribution to a business and market which he knows very well."
For further information please contact:
Rightster Group plc
Ashley MacKenzie (CEO) via FTI Consulting
Stockdale Securities Limited
Richard Johnson / Robert Finlay Tel: 020 7601 6100
FTI Consulting
Rob Mindell / Antonia Gray Tel: 020 3727 1000
Additional information
Kevin Deeley, aged 49, is interested in 1,544,359 ordinary shares of 0.1 pence each in the Company ("Shares") and 1,379,389 options over Shares exerciseable at 0.1 pence per share.
Previous directorships (in last 5 years):
- Quill Content Limited
- Base 79 Limited
- Base 79 Inc.
- Base 79 GmbH
- Base 79 SARL
- Base 79 Iberia SL
There are no further disclosures required in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.
About Rightster Group plc
Rightster is an independent Digital Media & Social Video Broadcaster, proudly working with some of the biggest brands and most followed YouTube and Facebook social creator talent in the world. Clients include Coca Cola, P&G, Microsoft, 20th Century Fox, CNBC, Universal Pictures and Google.
Rightster is the largest multi-platform video network in the world outside North America, with headquarters in London, and offices in 7 countries around the world, including France, Germany, Spain, Singapore, India, Australia and the US.
Rightster makes it simple for Content Owners, Creators, Brands, Publishers and Platforms to unlock the value of online video, whether on a licensed, ad-funded, direct to consumer or paid placement basis.