iomart Group plc
("iomart", the "Group" or the "Company")
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
Moventas Holdings OY
Clyde Blowers Capital Co-Investment II LP
Clyde Blowers Capital CIV II LP
Clyde Blowers Capital CIV III LP
Former Directorships (previous 5 years):
InterBulk Group plc
United Transport Europe Limited
Bailee Freight Services Limited
InterBulk (UK) Limited
International Bulk Systems Limited
IBC Logistics Systems Limited
International Bulk Freight Limited
UBC Flexitanks Limited
Linertech Solutions Limited
United Transport Tank Containers Limited
Hillgate XYZ Limited
United Transport Tankcontainer Holdings BV
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
Peel Hunt LLP
(Nominated Adviser and Broker)
Tel: 020 7418 8900
Tel: 020 8004 4218
About iomart Group plc
iomart Group PLC (AIM: IOM) helps organisations maximise the flexibility, cost effectiveness and security of the cloud. From strategy to delivery, our 300+ consultants and solutions architects provide the cloud expertise to transform your business. With a dynamic range of managed cloud services that integrate with the hyper clouds of AWS and Azure, our agnostic approach delivers solutions tailored to your specific requirements. iomart is a long term supplier to G-Cloud and our infrastructure and cloud and backup services are designed to meet the requirements of the UK public sector. To find out more about our managed cloud services visit www.iomart.com. For our cloud consultancy visit www.systemsup.co.uk.
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