Covata Limited (Covata or the Company) announced that it is pursuing a major transformational transaction, being the acquisition of dataglobal GmbH (dataglobal or dg), that management believes will position the company strongly for the future. As a consequence of the proposed transactions Covata will move to a new transitional board and management structure. Lindsay Tanner will step down as a non-executive director effective January 30, 2019 and Steven Bliim, the Company's CFO and Joint Secretary, will join the Board alongside Bill McCluggage (Chairman) and Ted Pretty (CEO).

On completion of the dataglobal acquisition it is intended that the Board will comprise Ted Pretty as Executive Chairman, Bill McCluggage as Lead Independent Director, Wolfgang Munz as CEO and Executive Director and up to two other independent directors with relevant global software experience.