1 Mar 2018 07:00
1 March 2018
Quixant plc
("Quixant" or the "Group")
Board Changes and Appointment of CFO
Quixant (AIM: QXT), a leading provider of innovative, highly engineered technology products principally to the global gaming industry is delighted to announce a further strengthening and restructuring of the Board as follows:
· | Nick Jarmany, currently CEO, has been appointed Vice Chairman with executive responsibility for technology leadership and innovation. Nick is a founding director of the Group and is beneficially interested in 18.4% of the Group's issued share capital; |
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· | Jon Jayal, currently COO, has been appointed CEO. Jon was a key member of the design group which developed Quixant's first product in 2005. After a period in the financial sector Jon returned to Quixant in 2012 as General Manager. He was promoted to the Board as COO in June 2016; |
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· | Cresten Preddy, currently CFO, has indicated her wish to have a plan in place for her to retire from a full-time role, and over the last few months the Board has conducted a process to identify a suitable replacement; |
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· | Guy Millward will join the Group as CFO on 1 October 2018. Guy qualified as a Chartered Accountant at Ernst and Young in 1989. He has extensive experience as Finance Director of several public companies in the electronics, software and IT sectors. He joins Quixant from Imagination Technologies Group plc, which he joined as CFO in 2015. |
Commenting on the changes, Nick Jarmany said:
"When we founded Quixant in 2005 our focus was on product innovation and development, manufacturing, marketing and sales. The Group is now a medium sized business with employees around the world and needs a strong management team with robust systems and controls. Relinquishing CEO responsibilities frees me to focus on technology and product innovation. Jon has already proved his ability to carry out CEO responsibilities and I have every confidence he will continue our track record of strong profitable growth."
Michael Peagram, Non-Executive Chairman of Quixant, said:
"As the Group continues to grow a strong management team is essential. I am delighted we have attracted someone of the calibre of Guy Millward, who I believe will make an excellent partner for Jon in his new role. I am confident he will play a critical role over the next few years as the business continues to grow."
The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
For further information please contact:
Quixant plc | Tel: +44 (0)1223 892 696 |
Jon Jayal, Chief Executive Officer |
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Nominated Adviser and Broker: |
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finnCap Ltd | Tel: +44(0)20 7220 0500 |
Matt Goode / Henrik Persson / Simon Hicks (Corporate Finance) |
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Simon Johnson / Alice Lane (Corporate Broking) |
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Financial PR: | Tel: +44(0) 20 3865 9667 |
Alma PR |
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John Coles / Hilary Buchanan / Susie Hudson |
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About Quixant
Quixant, founded in 2005, designs and manufactures highly optimised computing solutions and monitors principally for the global gaming industry. The Company is headquartered in Cambridge in the UK where the global sales function is based. North America sales and sales support is run from their subsidiary in Las Vegas. Quixant has its own manufacturing and engineering operation based in Taiwan and software engineering and customer support team based in Italy. All the specialised products software and manufacturing are produced in-house and Quixant owns all its own IP some of which is protected by patents and design rights.
In November 2015 Quixant acquired Densitron Technologies plc. Densitron has a strong heritage in the sale of electronic display solutions to global industrial markets. Through Densitron's experienced sales team, Quixant has a robust platform to build its business into wider industrial markets. In-depth information on the Company's products, markets, activities and history can be found on the corporate website at www.quixant.com.
The following information regarding the appointment of Guy Leighton Millward, aged 52, is disclosed under Schedule 2(g) of the AIM Rules for Companies:
Current directorships and/or partnerships: | Former directorships and/or partnerships (within the last five years): |
Eckoh plc | ADV Management Services Ltd Advanced 365 Limited Advanced Business Software And Solutions Limited Advanced Business Software and Solutions Pte. Ltd Advanced Computer Software Group Limited Advanced Computer Software Group plc Advanced CS Australia Pty Limited Advanced Health And Care Limited Advanced Legal Solutions Limited Advanced Ticketing Limited Alphalaw Limited BH Bidco Limited BH Midco Limited BH Topco Limited Bighand Holdings Limited Bighand Limited Bristol Interactive Technology Limited Caustic Graphics Inc Cobaltside Limited Compass Computer Consultants Limited Computer Software Group Limited Consultcrm Limited Consultgrp Limited Cross Products Limited Dury Lane (Jersey) Limited Ensigma Technologies Limited Exchequer365 Mobile Solutions Limited Goldcrest Solutions Limited Hellosoft Inc Imagination Technologies (Shanghai) Co Ltd. Imagination Technologies AB Imagination Technologies BV Imagination Technologies GmbH Imagination Technologies Group plc Imagination Technologies Inc Imagination Technologies KK Imagination Technologies Limited Imagination Technologies LLC Imagination Technologies NZ Limited Imagination Technologies Pty Limited Intercede 2445 Limited Konnekt It Solutions Limited Metagence Technologies Limited Mill Link 2 Limited Mill Link 3 Limited MIPS Technologies International Limited Mips Tech Limited Nflow Software Limited Opsis Limited Opsis Practice Management Solutions Ltd Plain Healthcare Ltd PowerVR Technologies Limited Pure Digital Limited Sondrel (Soc Solutions) Ltd Transoft Group Limited V1 Limited Videologic Systems Limited |
Mr Millward does not hold any ordinary shares of 0.1 pence in the Company.
There are no further disclosures required under Schedule 2(g) of the AIM Rules for Companies.