iomart Group plc (AIM:IOM), the cloud computing company, announces that Richard Logan, Group Finance Director, has notified the Board of his intention to retire from his role at iomart after 12 years’ service to the Company.
The Board is pleased to announce the appointment of Richard’s replacement, Scott Cunningham, as Group Finance Director with effect from 3 September 2018. Richard will step down from the Board on this date and has agreed to be available until the end of December 2018 in order to ensure an orderly handover.
Scott has over 25 years’ experience in the accounting and finance profession and was Group Finance Director of AIM listed InterBulk Group plc for nine years before the group was successfully sold to Den Hartogh in March 2016. Before this Scott performed a number of roles within the Clyde Blowers portfolio including Group Financial Controller for the Clyde Bergemann Power Group from 2003 to 2006 and more recently was an Investment Director at Clyde Blowers Capital. Scott is a member of the Institute of Chartered Accountants of Scotland having qualified with Arthur Andersen in 1995.
Ian Ritchie, Chairman, commented:
“I’d like to thank Richard for the outstanding contribution he has made to the success of iomart Group during his 12 year tenure. He leaves the Group on a sound financial footing, with high levels of revenue visibility and a strong balance sheet. I wish him every future success.”
Angus MacSween, CEO, commented:
“I concur with the Chairman’s comments and after a busy 12 years I wish Richard a long and healthy retirement. In Scott we have found another high calibre finance director and look forward to him joining the business in September.”
Scott Cunningham, incoming Group Finance Director, commented:
“I am delighted to be joining iomart, which has built a successful position in the growing cloud computing market and has developed a reputation for consistent delivery. iomart has a significant and sustainable market opportunity ahead of it, as the move to the cloud continues, and I look forward to working with Angus and the team to deliver upon that opportunity.”
The following information is disclosed in accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies:
| Full name and age: | Scott Thomas Cunningham, aged 47 |
| Current Directorships: | Moventas Holdings OY Moventas Gears OY |
| Current Partnerships: | Clyde Blowers Capital Co-Investment II LP Clyde Blowers Capital Co-Investment III LP Clyde Blowers Capital CIV II LP Clyde Blowers Capital CIV III LP Redwood Capital Partners III LP |
| Former Directorships (previous 5 years): | InterBulk Group plc InBulk Technologies Limited CleanCat Technologies Limited InterBulk (Tankcontainers) Holdings Limited InterBulk (Tankcontainers) Limited I.B.T Limited InterBulk (UK) Holdings Limited United IFF Limited Yardbrace LimitedUnited Transport Europe Limited Bailee Freight Services Limited InterBulk (UK) Limited International Bulk Systems LimitedIBC Logistics Systems Limited International Bulk Freight Limited Linertech Limited UBC Flexitanks Limited IBC Limited Linertech Solutions Limited UBC Limited United Transport Tank Containers Limited Hillgate XYZ Limited Interbulk China Holdings Limited United Transport Tankcontainer Holdings BV United Transport Tankcontainer Holdings AB InterBulk AB InterBulk (Trucking) AB United Transport Tankcontainers (Norway Branch) United Transport Tankcontainers Inc. InterBulk Pte Ltd UBC Finland Oy Beijing InterBulk Logistics Co. Ltd Shanghai InterBulk Logistics Co. Limited |
There is no further information required to be disclosed under Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.
For further information:
| iomart Group plc | Tel: 0141 931 6400 |
| Angus MacSween Richard Logan |
|
| Peel Hunt LLP (Nominated Adviser and Broker) |
Tel: 020 7418 8900 |
| Edward Knight Nick Prowting Max Irwin |
|
| Alma PR (Financial PR) |
Tel: 020 8004 4218 |
| Caroline Forde Helena Bogle |
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