BIDS.L Regulatory News (BIDS)

Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.

15 February 2023

Bidstack Group Plc

("Bidstack" or the "Company" or the "Group")

Bidstack appoints Thomas Bullen as CFO

Bidstack Group Plc (AIMS: BIDS), the native in-game activation platform, is pleased to announce the appointment of Thomas Bullen as Chief Financial Officer for the Group. Bhavesh Hirani, current Interim Chief Financial Officer, will resume his role as Head of Finance.

Thomas Bullen brings 20 years of finance experience in financial services and the fast-growing mobile advertising technology space. Thomas was most recently CFO at AdColony, the mobile advertising platform, leading a global team across the US, UK, Europe and India where he managed all finance and accounting functions. Thomas, alongside the executive team, led AdColony to a successful US$400m exit to Digital Turbine in 2021. 

Prior to AdColony, Thomas served at its publicly listed parent company, Opera Software, as a Financial Controller as well as working closely with the corporate development team on acquisitions and post-deal integrations.

Thomas' appointment follows Bidstack's announcement of the hires of executives Jude O'Connor (CRO) and Camila Franklin (COO) to accelerate Bidstack's global growth and revenue strategy.

Subject to the necessary regulatory requirements, which remain to be completed, it is the Company's intention to appoint Thomas to the Board in due course. A further announcement will be made when appropriate.

David Reeves, Chairman of Bidstack, said

"I am delighted to announce Thomas' appointment as our new CFO. His experience in mobile advertising technology and high growth companies is highly relevant for Bidstack. I am looking forward to working with him in delivering transformative growth coupled with sound financial discipline.

"I would like to thank Bhavesh for his contribution and support to the Board and executive team during his tenure as Interim CFO. This was vital in securing Bidstack's first strategic investment and expansion into the US."

James Draper, CEO of Bidstack, said

"Bidstack is maturing as an entity and in FY23 we're confident that we will see a step-change in revenue and operational growth. When the opportunity arose to bring Thomas into the team, to work alongside Jude and Camila again after such success at AdColony, it was an opportunity we had to close.

"We are building out a team that's used to winning and delivering on industry-leading goals. I see Thomas as becoming an integral part of this. My thanks to Bhavesh who has managed our finance department with professionalism and efficiency as Interim CFO."

Thomas Bullen, incoming CFO of Bidstack, said

"I am excited to be joining Bidstack as CFO and looking forward to working closely with James as well as reuniting with Jude and Camila at this inflection point of growth. Bidstack has a great opportunity to continue to grow its market share of ads monetisation in games and solidify its leading position as the product scales. I am eager to execute on the company's priorities and generate value for shareholders."

-ENDS-

Contacts

Bidstack Group Plc

James Draper, CEO

SPARK Advisory Partners Limited (Nomad)

Mark Brady / Neil Baldwin / James Keeshan

+44 (0) 203 368 3550

Stifel Nicolaus Europe Limited (Broker)

Fred Walsh / Tom Marsh

 +44 (0) 20 7710 7600