Completion of Demerger

26 Sep 2006 07:04

CODASciSys PLC26 September 2006 26 September 2006 CODASciSys plc COMPLETION OF DEMERGER BOARD CHANGES CODASciSys plc announces that all of the conditions to the demerger of the CODAand Business Collaborator divisions of CODASciSys plc and to their transfer toCODA plc have now been completed, subject to the admission of the new ordinaryshares in CODA plc to trading on AIM which is expected to take place at 8.00a.m.this morning. As previously announced, CODASciSys plc is changing its name to SciSys plc.Such change is expected to become effective for trading purposes on Wednesday 27September, with the new stock code SSY. New share certificates in respect of shares in SciSys plc are expected to bedispatched to shareholders in early October 2006. In accordance with the terms of the demerger, the following directors haveresigned from the board of CODASciSys plc with immediate effect: Graham SteinsbergJeremy RocheCliff PreddyMark WellsMichael Greig Bryan Hucker will remain a director of CODASciSys plc to assist in the handoverto the new Finance Director, when appointed. The selection process to identifysuch appointment is progressing well. CODASciSys plc also announces the appointment to its board of Stephen Brignallas an Executive Director with immediate effect. Mr Brignall, aged 51, hasworked at CODASciSys plc for twenty years. CODASciSys plc confirms that there isno other information to be disclosed regarding Mr Brignall in relation toSchedule 2(g) of the AIM Rules Enquiries: CODASciSys plc Tel. 01249 466466Mark Hampson, Chief Executive Bridgewell Limited Tel. 020 7003 3000Simon Bridges / Richard Banham Pelham Public Relations Limited Tel. 020 7743 6679 / 07802 442486Archie Berens / Philip Dennis This information is provided by RNS The company news service from the London Stock Exchange