13 Jan 2014 07:00
Synety Group plc
(the "Group" or the "Company")
Appointment of Sales Director, Directors' Dealings and Issue of Equity
Appointment of Sales Director
Synety Group plc is pleased to confirm the appointment of Andrew Jones, as Sales Director and a Director of Group subsidiary, Synety Limited. Andrew joins from Magnetic North Ltd, where he held the role of Sales Director and was fully responsible for global sales, related revenue and profit targets.
Andrew has a strong telecoms and software solutions background, and considerable experience of dealing with larger customers and channel building. He was also previously Sales Director at Redstone Managed Solutions.
Simon Cleaver, Executive Chairman of the Group, commented:
"Achieving rapid sales growth is a key factor in our plan to gain a significant share in our market and we see establishing Andrew's role as a very important step. He has been working with Synety since October and he has already made a very positive impact. His particular skill set in telecoms and software adds strength and depth to our management team. We look forward to his contribution to our development."
Directors' Dealings
As a mark of their confidence in the future of Synety, to align themselves further with the Company's shareholders and to assist in reducing the cash burn, the entire Executive Director team and other senior management have elected (with the full backing of the Remuneration Committee) to reinvest the total sum of their bonus or commission entitlements due for 2013 back into the Company.
Consequently, on the 10th January, 2014 the following Directors and senior officers subscribed for the following 20p Ordinary Shares in the Company for the benefit of their SIPPs:
Name | Position | Number Of Shares Subscribed for | Subscription Price | Shares held following Subscription | % of Voting rights held following Subscription |
Simon Cleaver | Executive Chairman | 22,728 | £2.20 | 298,334 | 4.65% |
Mark Seemann | CEO | 22,728 | £2.20 | 869,553 | 13.55% |
Paul Williams | CFO | 13,182 | £2.20 | 32,004 | 0.50% |
Jason Kendall | CTO - Director Synety Limited | 22,728 | £2.20 | 482,214 | 7.52% |
Andrew Jones | Sales Director - Synety Limited | 4,546 | £2.20 | 4,546 | 0.07% |
Total Shares Purchased | 85,912 | ||||
The subscription price of £2.20 is the closing share price on 8th January, being the day before approval of the bonuses by the Remuneration Committee.
Issue of Shares
In connection with the above, application has been made for 85,912 new ordinary shares (New Ordinary Shares) to be admitted to trading on AIM. Admission of the shares is expected on 16 January 2014.
Following admission to trading on AIM of the New Ordinary Shares, the Company's issued share capital consists of 6,415,987 Ordinary shares of 20p each, with each share carrying the right to one vote. No shares are held in treasury. The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.
- Ends -
Further information
Simon Cleaver | Synety Group plc. | +44 (0)20 3587 7188 |
Shaun Dobson / Matt Thomas | N+1 Singer (Nominated Adviser) | +44 (0)20 7496 3000 |
David Bick / Mark Longson | Square1 Consulting | +44 (0)207 929 5599 |
About Synety
SYNETY is a leading cloud-based software and communications business based in Leicester, United Kingdom.
The company develops and provides a suite of cloud-based software products and services known as CloudCall which are aimed at enabling organisations to use their communications more effectively. The CloudCall suite of products allows companies to fully integrate their telephony systems into their existing software, enabling calls to be made, recorded, logged, categorised and detailed reports easily generated.
SYNETY's capacity to offer a streamlined integration with third-party CRM software makes it one of the most integrated telephony platforms in the world.
Since 2011 SYNETY has grown rapidly, seeing considerable increases in both the number of end users and in the number of CRM companies integrated with its software.
For additional information about SYNETY please visit www.synety.com