4 Apr 2017 07:00
Fitbug Holdings Plc / Epic: FITB.L / Index: AIM
RNS announcement: 4 April 2017
FITBUG HOLDINGS PLC ('FITBUG' OR 'THE COMPANY')
Proposed Change of Name
Fitbug Holdings Plc (AIM: FITB), the AIM quoted digital wellness provider for corporate organisations, announces that it is changing its trading name to Kin Wellness, following its repositioning of the business from the consumer retail space, mainly focused on sales of activity trackers, to a SaaS corporate digital wellness solutions provider. This change of trading name takes effect as of today.
It is intended that Fitbug Holdings Plc will also change its name to Kin Group Plc. This change of name requires approval by shareholders in general meeting; it is therefore intended to include a resolution to change the Company's name in the notice of the forthcoming Annual General Meeting, which will be sent out shortly.
The Directors believe that the word Kin signifies interconnectivity of people and their communities and colleagues; conveying brand values of trust, empathy, personal, human, friendliness and inclusivity, which better reflects the new corporate wellness business model. The rebranding to Kin Wellness is an opportunity for the Company to expand and strengthen its brand value, and say farewell to its consumer brand legacy.
Anna Gudmundson, CEO comments; "Changing the Company name signifies a further major step in our ambitious transformation strategy, where we've effectively shut down the consumer business to focus on the growing corporate wellness market, which was estimated at $43.3 billion in 2015 by the Global Wellness Institute, according to whom the global workplace wellness industry grew at 6.4% from 2013 - 2015 as organisations place more importance on keeping their employees motivated, well and healthy.
"In the last few months, the Company has announced significant new customer wins and formed a new partnership with Olympic gold medallist Sally Gunnell, OBE - all of which contribute to proving the business case for Kin Wellness as a B2B organisation."
**ENDS**
For further information visit http://www.kinwellness.com or http://www.fitbugholdings.com/
Contact:
Anna Gudmundson / Donald Stewart
| Fitbug Holdings Plc | 020 7449 4949 |
Mark Brady / Neil Baldwin
| SPARK Advisory Partners Limited (Nominated Adviser)
| 020 3368 3551 |
Claire Louise Noyce / William Lynne / Niall Pearson
| Hybridan LLP, Broker | 020 3764 2341 |
Stephanie Forrest | T/F/D, Public Relations | 07917 695755 |
Notes:
About Kin Wellness
Kin Wellness provides digital wellness solutions that empower employers to create a positive culture of health within their organisation. By helping employees to embrace a healthier way of living, Kin Wellness can help maximise performance, reduce absenteeism, decrease the risk of chronic illness, and lower healthcare costs.
The Company's technological edge allows it to address holistic wellness by engaging both individuals and teams through intelligent, personalised interaction and gamification. This is an opportunity to make incremental behavioural changes that will last a lifetime. The progress of individuals translates to actionable data, meaningful reporting and insights that allow the organisation to monitor the impact of the programme and to refine it in order to achieve success.
Shares are admitted to trading on the London Stock Exchange AIM market under ticker FITB.