SMRT.L Regulatory News (SMRT)

27 May 2021

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

SmartSpace Software Plc

("SmartSpace", the "Company" or the "Group")

BOARD CHANGES

SmartSpace Software Plc, (AIM:SMRT) the leading provider of 'Integrated Space Management Software' for smart buildings and commercial spaces - 'visitor reception, desks and meeting rooms', provides notification of changes to the Board.

Over the last year, SmartSpace has successfully realigned itself to becoming a pure play SaaS-focused business. A decision has therefore been made to reorganise the Board to ensure that we have the requisite Board composition and skill sets for the next stage of evolution of the business.

Diana Dyer Bartlett (NED) has been a tower of strength on the Board since joining the Company (then named Coms plc), in October 2013. She has helped transform the business from what was a disparate group of telecoms and IT services businesses into the focused, well-run Software business that it is today. Diana is coming to the end of the nine-year tenure recommended by the QCA Corporate Governance Code, to which SmartSpace subscribes and has a number of other external board opportunities she wishes to pursue. She has decided that now is an appropriate time to step down to allow the appointment of a new NED with the experience to take the business through its next stage of development.

Further Bruce Morrison (CFO) joined the Board in November 2018 to help in the transition and the onboarding of our Space Connect acquisition and the disposal of our Enterprise business last year. During his time with the business Bruce was instrumental in implementing robust financial systems and in ensuring the business we had a capable finance team in place. With these tasks successfully accomplished, Bruce is now leaving the Company.

As a result, both Diana and Bruce, will be standing down from the Board on 27 May 2021, and will not be seeking re-election at the forthcoming Annual General Meeting. Both will remain with the business for a short period to allow a smooth transition.

Kristian (Kris) Shaw, currently Financial Controller and Company Secretary will move to the position of Group CFO. Kris has been with SmartSpace since January 2019. He is ACA qualified, and prior to joining the Company spent seven years leading the finance team at Agrokultura AB, a Swedish listed agri-business. In his time working under Bruce, Kris has been instrumental in organising both the accounting and company secretarial functions and has demonstrated with his ever-increasing capabilities, he is ready for the next step-up in his career. The learnings gained from both Bruce and Diana, have provided the necessary knowledge for Kris to be an excellent CFO.

With our increased focus on software offerings, there is now a requirement that the role of the NED has direct experience of building fast growing international software businesses. We are therefore pleased to announce today the appointment of Philip Wood as independent NED and Chair of the Audit Committee. Philip is currently the Deputy Chief Executive Officer and Chief Financial Officer of Aptitude Software Group plc, a specialist provider of powerful financial management software to large global businesses. Philip brings extensive public company experience having joined the Board of Aptitude Software Group plc (formerly known as Microgen plc) in 2007, having previously held the role of Group Finance Director at AttentiV Systems Group plc where he oversaw the group's flotation onto AIM in 2004.

During his tenure, Philip has helped Aptitude grow its turnover to £57.3m, with a market capitalisation that has increased materially to £350m. The experience Philip brings in growing software businesses and mentoring finance teams will be hugely helpful to SmartSpace, as we move through our next phase of development as a global SaaS business.

Commenting on the Board changes, Guy van Zwanenberg, Chairman, said: "We are sad to lose Diana and Bruce and I would like to take this opportunity to thank them both for their hard work during their time in the business. Diana has put in a considerable tenure as a Director and has been stalwart dealing with the various challenges faced by the businesses over the years. We wish Diana every success in her future endeavours.

In his time with us, Bruce has introduced disciplines and evolved our management accounting and financial reporting, to the high standard it is today. We are particularly grateful to him for his contribution to the business and wish him well for the future.

I am delighted to welcome Kris as CFO. Having worked with Kris over the past two years, I have been impressed by his technical accounting skills and work ethic. Kris has an intimate knowledge of how our business operates, and, combined with his energy and capacity for hard work, this makes him an ideal candidate to take up the mantle from Bruce.

I am also very pleased to welcome Philip to the Board. We have made no secret of our ambitions to grow SmartSpace from our current market capitalisation to £100m+. Philip's experience in both operational scaling of software businesses and his direct experience of engaging with shareholders both in the UK and internationally, will provide us with the appropriate skills and knowledge that we require for the next stage of our journey with SmartSpace."

The following information is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Philip Basil Wood (aged 48).

Philip Wood holds no ordinary shares in the capital of the Company.

The following information is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Kristian Stuart Shaw (aged 43).

Kristian Shaw currently holds 50,000 options over ordinary shares in the Company.

Save as disclosed above there are no additional disclosures to be made in accordance with Rule 17 or Schedule Two paragraph (g) of the AIM Rules for Companies in respect of the appointment of Philip Wood or Kristian Shaw.

End

Enquiries

Canaccord Genuity (Joint Broker) +44 (0) 20 7523 8000

Adam James

Georgina McCooke

About SmartSpace Software Plc:

SmartSpace Software plc is a SaaS-based technology business, designing and building smart software solutions. The Company's software solutions help transform employee engagement with modules which include visitor management, desk management, meeting room management and analytics.

The three operating companies in the Group comprise:

· Space Connect - SaaS meeting room and desk booking (www.spaceconnect.co)

· SwipedOn - SaaS visitor management (www.SwipedOn.com)

· Anders & Kern - distribution and technical support (www.anders-kern.co.uk)

For more information go to: www.smartspaceplc.com.