TIDMIQH
RNS Number : 5681U
IQ Holdings plc
18 October 2010
18 October 2010
IQ Holdings plc
(the "Company")
Result of General Meeting
The Company is pleased to announce that at the General Meeting
held earlier today, all resolutions put to shareholders were duly
passed. Accordingly, the acquisition of the entire issued share
capital of 1Spatial Group Limited ("1Spatial") has now been
completed and the Company's name will be changed to 1Spatial
Holdings plc.
Application has been made for all the 21,188,926 new
consolidated ordinary shares of 4p each in the Company ("Ordinary
Shares") to be admitted to AIM. It is expected that dealings will
begin on 19 October 2010. 333,333 new Ordinary Shares have been
allotted to SF t1ps Smaller Companies Growth Fund on conversion of
the GBP100,000 convertible loan notes at 3p per ordinary Share and
19,068,398 Ordinary Shares have been allotted to shareholders in
1Spatial pursuant to the acquisition of 1Spatial.
The Company's new website, www.1spatial.com, will go live at
8.00am on Tuesday the 19 October 2010 and the Company's accounting
reference date has now been changed to 30 June. The Company's
registered office has been moved to Tennyson House, Cambridge
Business Park, Cowley Road, Cambridge, CB4 0WZ.
The previous Board, namely David Marks, Julian Green and Russell
Darvill have now resigned with immediate effect, and the new
Directors have now been appointed.
New Directors
Steve Berry - Non-executive Chairman (Age 56)
Steve has over 30 years international business experience that
includes starting and floating various companies and holding
executive and non-executive directorships, including Unison Capital
Holdings, one of Japan's largest private equity companies. He is
currently Executive Chairman of Waterbridge Capital Ltd., a venture
capital management company, focussed on technology and security
small cap growth companies. Steve's background is in finance;
working previously in the global capital and securities markets for
over 10 years in New York, London and Tokyo for Bankers Trust
Company. This period in international banking was followed by
private company venturing, a focus that is retained to the present
day.
Steve gained an MBA from Harvard Business School in 1979 and a
BSc in Economics from the Wharton School of the University of
Pennsylvania in 1976.
Nic Snape - Chief Executive Officer (Age 53)
Nic has nearly 30 years' experience in IT, over 20 years in
spatial data marketing, operations and business development. Nic
joined the company in 2001. Nic has a successful track record in
high value international sales pursuits and the management of
international partners. Nic has an enviable track record in high
value pursuits, running the Land Registry campaign in Eire and the
OSGB Phoenix Competitive Dialogue process. Nic has over 12 years
international experience gained in Canada and Malaysia. Nic took
over as CEO of 1Spatial in January 2010 to lead the more focussed
business approach.
Dr. Mike Sanderson - Director of Strategic Development (Age
59)
Mike led 1Spatial between 2001 and December 2009. Within 2
months he down-sized the organisation and re-organised the
management team. Mike came into the company with a vision to
realise the value locked in the core products and by working
closely with the Development Team has inspired them to take on this
challenge. Mike's background is large multinational software
companies such as ICL and Oracle, with particular emphasis on the
water industry. Mike has previous experience in the location
sector, running Genasys in the mid 1990's. With over 12 years
business process experience in scientific and engineering functions
within the water industry he has applied this to a variety of roles
in IT. He is a visiting lecturer at Warwick University's Management
School and Leeds University Business School. Mike's strengths and
his motivation are thinking about new ways of doing things and his
role as Director of Strategic Development enables him to focus on
the next phase of 1Spatial's strategic development, in particular
its strategy to exploit the INSPIRE initiative.
Peter Bullock - Finance Director (Age 51)
Peter has 24 years' post qualification experience in commerce
and industry, with 17 of those years in the technology sector. He
became Financial Controller in 1993, and later Finance Director of
location based business Genasys II in their EAME operation based in
Manchester. Peter worked closely with the small management team and
was key in the establishment of a Spanish based subsidiary out of a
former distributor. He was appointed CFO of the Group Spatial
Technologies Division in 1998 based in Sydney. After 2 years as
Finance Director of a small group of technology companies based in
Dublin, Peter joined 1Spatial in 2002 and has added his experience
in financial management, acquisitions and international business to
that of the rest of the team. He participated in the 2003
management buy-out and has been heavily involved with the 4
acquisitions to date.
Duncan Guthrie - Sales Director (aged 38)
Duncan is an established Sales Executive, having joined 1Spatial
in 2002 from ERMapper were he was MD for the European Operations.
Duncan worked very closely with Nic during the management buy-out
to negotiate the transaction. Since that time, Duncan has rebuilt
1Spatial's sales function and in particular has established a
significant reputation for 1Spatial in Australia, which is expected
to be a cornerstone of 1Spatial's future growth.
Marcus Hanke - Non-executive Director (aged 39)
Marcus began his career at Price Waterhouse (now
PricewaterhouseCoopers). He qualified as a chartered management
accountant and has since worked in industry with Compass Group Plc,
and consulting with KPMG and Deloitte. In 2003, he formed an
independent Performance Management company which was subsequently
acquired by Cognos Inc, in 2004. In 2006, Marcus joined Avisen as
Managing Partner and led the growth of the services business and
the diversification into software distribution. In early 2009
Marcus successfully listed Avisen on the London Stock Exchange
(AIM) and embarked on a roll-up Strategy in the IBM Information
Management market. Over the last 10 years Marcus has led several
corporate Performance Management programs rolled out in Europe, the
Middle East and Africa and has advised a number of global software
application vendors in this area. He specialises in corporate
performance management, value-based management and the technology
enablement of these processes.
Directors Shareholdings
Ordinary % of issued
Shares share capital
Steve Berry - - 890,811 4.20
Nic Snape - - 1,634,515 7.71
Mike Sanderson - - 6,538,060 30.86
Peter Bullock - - 1,634,515 7.71
Duncan Guthrie - - 1,634,515 7.71
Marcus Hanke - - 32,490 0.15
Other Directorships
Directors Current Directorships Past Directorships
Steve Berry 1Spatial Group Limited TG Support Limited
Controlled Thought Yeoman Group plc
Limited
Doveblue Limited Yeoman Navigation
Faber Brent Limited Systems Limited
Still First Limited Emergent Asset Management
Unison Capital Group Limited
Limited
Gossiptel Limited Totally Communications
Qtara Limited Limited
Bonnie's Fund Limited
Waterbridge Capital
Limited
Waterbridge International Call UK Limited
Limited
Waterbridge Marketing IDesk Group Limited
Limited
Auto Clubs International VOIP Systems Limited
Limited IDesk Plc
Aappro Limited IDesk Technical Services
Inpro Limited Limited
IDesk Systems Limited
(in liquidation)
IDesk Software Limited
(in liquidation)
Nic Snape 1Spatial Group Limited Laser-Scan Engineering
1Spatial Limited Limited
1Spatial Scotland Limited
Comsine Limited
Dr Mike Sanderson 1Spatial Group Limited Laser-Scan Limited
1Spatial AS (Norway) 1Spatial Belgium
Comsine Limited Limited
1Spatial Scotland Limited 1Spatial Technologies
Aon Spasuil Limited Limited (Ireland)
(Ireland) Laser-Scan Engineering
1Spatial Limited Limited
Peter Bullock 1Spatial Group Limited Laser-Scan Engineering
1Spatial Limited Limited
1Spatial AS (Norway) 1Spatial Technologies
1Spatial Scotland Limited Limited (Ireland)
Aon Spasuil Limited 1Spatial Belgium
(Ireland) NV (Belgium)
Comsine Limited Laser-Scan International
Inc (USA)
Duncan Guthrie 1Spatial Group Limited 1Spatial Technologies
1Spatial Limited Limited (Ireland)
1Spatial AS (Norway) Laser-Scan Engineering
KJG Limited Limited
Marcus Hanke Avisen plc Arnke Computing Limited
Avisen Group Limited TagetCPM Limited
Avisen Uk Limited
FBHG Limited
Healthare Professionals
Limited
Solution Minds (UK)
Ltd
Solution Minds Ltd
Eon Enterprises Limited
Infocube Limited
Inca Holdings Limited
Decorum Connect Limited
Intrinsic Networks
Limited
Matrix Network Solutions
Limited
Norwood Adam Technical
Services Limited
Storage Fusion Limited
Xploite IHC Limited
Xploite Plc
AIM Rule 17
Dr Mike Sanderson was a director of Laser-Scan Limited, which
was placed in administration by its then owners in June 2003.
Steve Berry was a director of the following companies which were
placed into receivership,
administration or liquidation:
The Conference Database Limited which was placed in liquidation
on 3 July 1997
Exposeum Limited which was placed in liquidation on 7 July
1998
IDesk plc which went into receivership on 10 April 2002
IDesk Group Limited which was placed in administration on 30
October 2003 and went into liquidation on 19 October 2005
IDesk Logistics Limited, IDesk Technical Solutions Limited and
IDesk Software Solutions Limited which were each placed into
administration on 30 October 2003
DeskI Managed Services Limited which was placed into
administration on 30 October 2003 Call UK Limited which was placed
into liquidation on 30 November 2006.
Steve Berry remains a director of IDesk Systems Limited which
was placed into administration on 11 January 2005 (and subsequently
into liquidation on 5 December 2006) and of IDesk Software Limited
which was placed into liquidation on 20 January 2006.
There are no further details required to be disclosed pursuant
to Rule 17 and Schedule 2, paragraph (g) of the AIM Rules.
Substantial Shareholdings
In addition to the Director's shareholdings set out above,
following persons are, directly or indirectly interested (within
the meaning of section 80 of the 2006 Act) in 3 per cent. or more
of the issued share capital of the Company:
Ordinary % of issued
Shares share capital
Seamus Gilroy 1,225,886 5.79
Steve Ramage 915,328 4.32
Chris Wright 751,877 3.55
Dr Crispin
Hoult 653,806 3.09
--END-
For further information please contact:
1Spatial Holdings plc
Nic Snape +44 (0)1223 420 414
Libertas Capital Corporate Finance Limited
Sandy Jamieson +44 (0)20 7569 9650
Rivington Street Corporate Finance
Peter Greensmith +44 (0)20 7562 3389
Bishopsgate Communications
Gemma O'Hara / Siobhra Murphy +44 (0)20 75623350
This information is provided by RNS
The company news service from the London Stock Exchange
END
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