eg Solutions PLC Regulatory News (EGS)

Appointment of Chairman, second new utility customer win, change of adviser

eg solutions plc ("eg" or "the Company"; LSE-AIM: EGS), the back office optimisation software company, is delighted to announce that Duncan McIntyre has agreed to join the Board as Non-Executive Chairman with immediate effect. Separately, the Company are pleased to announce a further contract win in the utilities sector, highlighting the applications of the eg operational intelligence suite across verticals.

The Company are also pleased to announce the appointment of finnCap Ltd as its Nominated Advisor and broker with immediate effect.

Appointment of Duncan McIntyre

Mr McIntyre's successful international business career includes 20 years as Chairman, Chief Executive and investor with a number of quoted and private companies, mainly in the technology sector. Most notably Mr McIntyre acted as chief executive of Morse plc until 2007 (which he joined in 1994 after qualifying as a chartered accountant) and as chairman of Monitise plc until October 2013, which he helped build to a market capitalisation of approximately £1 billion.

Elizabeth Gooch, currently Acting Executive Chairman, will continue as Acting Chief Executive Officer.

Further disclosures in respect of Mr McIntyre, as required pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for Companies, are set out below.

Elizabeth Gooch commented:

"I am delighted that Duncan has agreed to become eg's Chairman. His success in building international businesses is based on his deep understanding of modern technology markets, strong City reputation and real passion for developing effective management teams. He will add real value to our business."

Duncan McIntyre, commented:

"eg has a very strong position in the developing back office optimisation market. We have the market leading product, a superb and loyal customer base and a committed team of people. The business has significant potential but has yet to deliver on this opportunity. The past year has been extremely disappointing and we will be working hard to establish an appropriate board structure, build a rounded management team and re-establish a culture of support and success. I am pleased to be working with Elizabeth and the team with renewed focus on delivering to our customers, shareholders, partners and staff."

New utility customer

eg is pleased to announce that the Company has won a contract with a further customer in the utilities sector for the deployment of eg operational intelligence®.

Business Energy Solutions Ltd. ("BES") is a growing independent supplier of gas, electricity and telecommunications to businesses nationwide. Since its formation, BES has seen strong growth and is implementing eg operational intelligence® across its Operations and Debt Management teams to optimise the management of resources in support of future growth plans, ensuring a clear focus on customer service is maintained.

Revenue from the licences provided to BES will be recognised in the current financial year.

Further information in respect of Mr Duncan James McIntyre, aged 54, as required pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for Companies

On 20 February 2014, Mr McIntyre committed to provide up to £0.2 million of the Company's Loan Facility which may convert into new ordinary shares of the Company ("Ordinary Shares"), as described in the announcement of that date. The Company and Mr McIntyre have also agreed that, subject to receipt of necessary regulatory and procedural clearances, Mr McIntyre will shortly subscribe for 400,000 new Ordinary Shares at a price of 50 pence per Ordinary Share. Mr McIntyre has no other holdings in the Company.

The Company intends to establish a share option scheme for the incentivisation of key members of the Board and senior employees, including a share matching arrangement in which Mr McIntyre will participate.

There is no further information disclosable in respect of Mr McIntyre pursuant to Rule 17 or Schedule 2(g) of the AIM Rules for Companies.

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About eg solutions plc

eg solutions plc is a global back office optimisation software company. Our software provides historic, real-time and predictive Operational MI. When implemented with our training programme for managers and team leaders to use this intelligence, we guarantee improvements in operational results in short timescales.

The Company, which is listed on the Alternative Investment Market ('AIM') of the London Stock Exchange, is committed to customer satisfaction and the ongoing development of its operations management solutions.