Last checked at 18 May 2016 07:00
18 May 2016
Ubisense Group PLC
("Ubisense" or "the Company")
Director resignation & appointment
Ubisense Group plc (AIM: UBI) announces that it is to expand the remit of its chairman, Peter Harverson, to become executive chairman with immediate effect, taking on responsibility for the strategy and operations of the Company as it enters its next phase of development.
After 14 years as CEO of the Company, Richard Green has decided for personal reasons that he should step back from his leadership role. Richard will assist the business to effect an orderly transition during his notice period which will run until the end of 2016. Richard has also resigned as a director of the Company with immediate effect. The Company is actively engaged in seeking his successor.
Additionally the company is pleased to announce the appointment of Oliver Scott as a non-executive director of the Company with immediate effect. Oliver Scott is a partner of, and holds a beneficial interest in, Kestrel Partners LLP ("Kestrel") which has an interest in 15,602,493 ordinary shares in the Company, which represents approximately 28% of the Company's issued share capital.
Additional information
Oliver Rupert Andrew Scott, 48, is or has been a director of the following companies:
Current directorships & partnerships
Adam Street Founders LP
ClearSpeed Technology Limited
Kestrel Co-Investments (A) LP
Kestrel GP Limited
Kestrel Investment Partners LLP
Kestrel Partners LLP
ZF Acquisitions Limited
Previous directorships
GlobalReach Kestrel PLC
KBC Advanced Technologies PLC
Kestrel is the investment manager to Kestrel Opportunities, a cell of Guernsey Portfolios PCC Limited ("Kestrel Opportunities"), and various other clients. Oliver Scott is also a shareholder in Kestrel Opportunities and is therefore deemed to have a legal beneficial interest in Kestrel Opportunities' entire legal holding in the Company.
Kestrel Opportunities holds (and consequently Oliver Scott is deemed to have a legal beneficial interest in) 11,475,035 ordinary shares in the Company. Kestrel's other discretionary clients, in which Oliver Scott has no legal beneficial interest, hold a further 4,127,458 ordinary shares in the Company.
Oliver has held director positions in certain other companies in which Kestrel Partners LLP have invested.
There are no further disclosures required pursuant to Schedule 2, paragraph (g) of the AIM Rules for Companies in respect of the appointment of Oliver Scott to the Board of the Company.
For further information contact:
Ubisense Group plc +44 (0)1223 535170
Peter Harverson
Tim Gingell
Numis Securities Limited +44 (0)20 7260 1000
Simon Willis
Jamie Lillywhite
Toby Adcock
Redleaf Communications +44 (0)20 7382 4730
Rebecca Sanders-Hewett
David Ison
Harriet Lynch
About Ubisense
Ubisense (AIM: UBI), a global leader in Enterprise Location Intelligence solutions, helps manufacturing, communications and utility companies improve operational efficiency and boost profitability. Ubisense location intelligence systems bring clarity to complexity, enabling customers to revolutionise their operational effectiveness in a measurable way. Founded in 2002, Ubisense is headquartered in Cambridge, England, with offices in North America, France, Germany and Japan. For more information visit: www.ubisense.net.