Last checked at 16 Jun 2021 07:00
Dillistone Group Plc
("Dillistone", the "Company" or the "Group")
AGM Statement
& Board Changes
At the Annual General Meeting ('AGM') of Dillistone Group Plc, the AIM quoted supplier of software and services to the recruitment industry, being held today at 10:30 am, Giles Fearnley, Chairman of Dillistone, will make the following AGM statement:
"After a challenging period for the Group and its clients, we are pleased to see signs of a return towards normality in several of our key markets. While it will take time for our recurring revenues to recover - and they will be down on FY 2020 when we had an extremely strong Q1 before the pandemic began - we do expect a significantly reduced loss before tax in 2021. The Group had cash balances of £0.95m at 31 May 2021.
"The Board believes that our Talentis product - https://www.talentis.global - will play a key part in our future performance. While the subscription nature of the product means that revenue will not be significant in 2021, we are pleased to see very positive early feedback to the product and growing numbers of paying subscribers."
Board Changes:
We are also today announcing a number of changes to the composition of our Board.
Julie Pomeroy, our Group Finance Director, will be retiring from executive leadership later in the year once a successor has been appointed and there has been an appropriate handover. Julie was recently appointed as a NED for another listed company and is considering additional opportunities as she transitions to a portfolio career.
In addition, Alex James will step down as an executive director from 30 September and will leave the business on or before 31st January 2022. Alex has held a leadership role in our product team for a number of years, and his guidance has ensured that our recent Talentis product launch was released to very positive feedback. With Talentis now generating revenue for the Group, Alex is leaving to explore new opportunities.
Giles Fearnley, Chairman, commented: "I do pay tribute to both Julie and Alex for their very significant contributions to the Dillistone Group over many years. The Company has benefited greatly from Julie's strong financial leadership, wise counsel and hard work. The successful completion of 3 acquisitions and the corporate restructuring in December 2019 are just some examples of her work for us. Alex has been part of the Dillistone team for over 20 years and throughout that time his work and unfailing commitment has been integral to the business' development and successes. I thank Julie and Alex sincerely for all that they have achieved for the Group and wish them both all the very best for the future."
Jason Starr, Chief Executive Officer, added: "I'd like to join Giles in thanking our departing colleagues for everything they've done for the Group. I've had the pleasure of working alongside Alex for the best part of 20 years, and he's been a driving force in the ongoing development of our product range. Julie has paid a key part in the progress of the Group; delivering multiple successful acquisitions along with the more fundamental elements of offering financial leadership to our business. I join Giles in wishing both Julie and Alex well for the future."
The process of recruiting a new Finance Director will now commence and a further update will be provided in due course. The responsibility for Product leadership will largely be taken on by existing board members and particularly the Chief Engineering Officer, Steve Hammond, who joined the Group board in January.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Enquiries:
Dillistone Group Plc |
| Via Walbrook PR | |
Jason Starr | Chief Executive |
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Julie Pomeroy | Group Finance Director |
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WH Ireland Limited (Nominated adviser) |
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Chris Fielding | Managing Director, Corporate Finance | 020 7220 1650 | |
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Walbrook PR |
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Tom Cooper / Nick Rome |
| 020 7933 8780 | |
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| dillistone@walbrookpr.com | |
Notes to Editors:
Dillistone Group Plc is a leader in the supply and support of software and services to recruiters. Dillistone operates through the Ikiru People brand.
The Group develops, markets and supports the Talentis, FileFinder, Infinity, Midoffice, ISV and GatedTalent products.
Dillistone was admitted to AIM, a market operated by the London Stock Exchange plc, in June 2006. The Group employs around 90 people globally with offices in Basingstoke, Southampton, New Jersey and Sydney.