4 Dec 2012 07:00
For release at 7.00 am 4 December 2012
STATPRO GROUP PLC
("StatPro," the "Company" or the "Group")
Directorate Change
StatPro Group plc, (AIM:SOG), the AIM listed provider of portfolio analysis and asset pricing services for the global asset management industry, today announces the resignation of Charles Fairbairn from the Board of StatPro with effect from 31 December 2012.
Charles joined the Board of StatPro as non-executive director in April 2000 and helped prepare the Company for its stock market flotation, which was successfully achieved in May 2000. Charles has been an active contributor to the Board's strategy over the last 12 years. During this period, StatPro has grown its recurring revenue from less than £1 million to approximately £30 million. Charles was Chairman of the Remuneration Committee from 2000 to 2006 and has been Chairman of the Audit Committee since 2000.
Jane Tozer, non-executive director, will be appointed as Chairman of the Audit Committee with effect from 1 January 2013 and Charles has kindly agreed to be available to the Company during the period up to 31 March 2013 in order to assist in a smooth transition.
Carl Bacon, Chairman of StatPro, commented: "I would like to thank Charles for his tremendous service to the Company over the years. Charles has made a significant contribution to the ongoing success of StatPro."
Charles Fairbairn added: "This has been a period of expansion of product, international reach and customer demands. Being part of the team has been very rewarding and I shall continue to follow the continued progress of the Company with great pride and interest."
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For further information, please contact:
StatPro Group plc |
| www.statpro.com |
Justin Wheatley, Chief Executive |
| 020 8410 9876 |
Andrew Fabian, Finance Director |
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Cenkos Securities |
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Stephen Keys |
| 020 7397 8926 |
Adrian Hargrave |
| 020 7397 8922 |
Julian Morse (Sales) |
| 020 7397 1931 |
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Newgate Threadneedle |
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Caroline Evans-Jones/ Hilary Millar |
| 020 7653 9850 |
About StatPro
StatPro is a global provider of portfolio analytics for the investment community. Our cloud based services provide vital analysis of portfolio performance, attribution and risk for hundreds of asset managers, fund administrators, RIAs, CEOs, heads of risk, sales directors, marketing managers and authorised corporate directors. They are now using our cloud services and software products to perform sophisticated analysis, reporting and distribution every day.
With 18 years of experience and expertise, we believe analytics should be sophisticated yet simple and useful as well as secure. StatPro data coverage includes global equities, global bonds, global mutual funds, most families of benchmarks, FX rates, sector classifications and much else besides.
StatPro has grown its recurring revenue from less than £1 million in 1999 to £30 million at end June 2012 and currently enjoys a renewal rate of approximately 94%. StatPro floated on the London Stock Exchange in May 2000 and transferred its listing in June 2003 to AIM. The Group has operations in Europe, North America, South Africa, Asia and Australia and around 350 clients in 28 countries around the world. Approximately 80% of recurring revenues are generated outside the UK.