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5 Jun 2017 07:00
5 June 2017
RedstoneConnect Plc
("RedstoneConnect", the "Group" or the "Company")
AGM Statement
RedstoneConnect (AIM: REDS), a leading provider of technology and services for smart buildings and commercial spaces, will be holding its Annual General Meeting ("AGM") at 11am today.
At the meeting, Frank Beechinor, Non-executive Chairman of RedstoneConnect, will make the following statement:
"2016 was a year of substantial progress for RedstoneConnect as we completed the Company's restructuring and set out a new strategy to become a leading provider of software technology and services in the Smart Buildings and Commercial Spaces market. I am pleased to report the momentum achieved in the previous year has continued into the current financial year.
"The Company has also made excellent progress against all of its strategic priorities including targeting selective acquisitions which complement our existing products and services. Following two bolt-on acquisitions in 2016, Connect IB and Commensus, in May 2017 we acquired Anders + Kern, a meeting room management and audio visual integrator. Alongside the Anders + Kern transaction, the Company successfully raised £6.5 million, which part-funded the acquisition as well as strengthening the Group's balance sheet enabling us to accelerate the development of OneSpace, our occupancy management software solution.
"Looking forward, we believe we are well-placed to accelerate the implementation of our strategy to focus on developing and growing RedstoneConnect's annuity revenue streams across the Group, as well as continuing to build on the Company's established presence in the high growth Smart Buildings and Smart Technologies arena."
Enquiries:
RedstoneConnect Plc Mark Braund (CEO) Spencer Dredge (CFO)
| via Vigo Communications |
Cantor Fitzgerald Europe (Nominated Adviser & Joint Broker) Marc Milmo/Phil Davies/Catherine Leftley/Callum Butterfield
| +44 (0)20 7894 7000 |
Whitman Howard Limited (Joint Broker) Nick Lovering
| +44 (0)207 659 1234 |
Vigo Communications (Financial Public Relations) Jeremy Garcia / Ben Simons / Antonia Pollock reds@vigocomms.com
| +44 (0)20 7830 9700 |
About RedstoneConnect
RedstoneConnect is focused on technologies that make real estate more efficient and businesses more effective. Its businesses, Redstone, Connect IB, Commensus and Anders + Kern provide the infrastructure capabilities and the software applications to deliver smart building and smart workspace solutions for commercial businesses, public sector organisations, real estate owners and managers. Visit our website at www.redstoneconnectplc.com.
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