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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  K3 Business Technology Group plc    KBT   GB00B00P6061

K3 BUSINESS TECHNOLOGY GROUP PLC

(KBT)
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K3 Business Technology : Board Changes

02/06/2020 | 11:28am EST
Regulatory Story
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Board Changes
Released 16:13 06-Feb-2020



RNS Number : 2552C
K3 Business Technology Group PLC
06 February 2020

AIM: KBT

6 February 2020

K3 Business Technology Group plc

('K3' or 'the Company')

Board Changes

K3, which provides mission‐critical business software, cloud solutions and managed services, announces the following board changes.

Stuart Darling, chairman, has notified the company of his intention to step down from the board at the Company's next AGM in May. Stuart will cease to act as chairman with immediate effect, though will remain as a non-executive director (and audit committee chairman) until the AGM. Pending the appointment of a new chairman, Jonathan Manley (a non-executive director at K3 since December 2015) will step into the role of interim chairman to ensure continuity.

Paul Morland, non-executive director, has also notified the company of his intention to step down from the board at the Company's next AGM in May. The Company intends to appoint a new non-executive director to replace Paul in the near future, with a search for Paul's replacement already well advanced.

Adalsteinn Valdimarsson, CEO, commented:

'I would like to thank Stuart and Paul for their valuable contribution to the transformational journey that K3 has been on and wish them all the best in their future endeavours. I would also like to welcome Jonathan into his interim role as chairman and look forward to continuing to work with him on the strategic direction of the business.

'K3 is entering an era of IP led growth that is built on the technical and business platforms that we have invested in over the last few years. The search for new board members is underway and the board will look to ensure that they are able to provide guidance and support to successfully drive that strategy forward.'

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

K3 Business Technology Group plc

Adalsteinn Valdimarsson, CEO

Rob Price, CFO

T: 0161 876 4498

finnCap Limited (NOMAD & Broker)

Julian Blunt/James Thompson (Corporate Finance)

Camille Gochez (Corporate Broking)

T: 020 7220 0500

KTZ Communications

Katie Tzouliadis/Dan Mahoney

T: 020 3178 6378


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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Board Changes - RNS

Disclaimer

K3 Business Technology Group plc published this content on 06 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 February 2020 16:27:11 UTC


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Financials
Sales 2019 78,4 M 107 M 107 M
Net income 2019 -15,4 M -21,2 M -21,2 M
Net Debt 2019 6,34 M 8,69 M 8,69 M
P/E ratio 2019 -4,30x
Yield 2019 -
Capitalization 50,2 M 68,5 M 68,8 M
EV / Sales 2018 1,23x
EV / Sales 2019 0,93x
Nbr of Employees -
Free-Float 64,8%
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Number of Analysts 2
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Last Close Price 1,17 
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Managers and Directors
NameTitle
Adalsteinn Valdimarsson Chief Executive Officer & Executive Director
Tom Crawford Non-Executive Chairman
Robert David Price Chief Financial Officer & Executive Director
Per Johan Claesson Non-Executive Director
Jonathan Paul Manley Non-Executive Director
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