Digital Barriers plc Completion of Disposal (1518V)
October 31 2017 - 11:59AM
UK Regulatory
TIDMDGB
RNS Number : 1518V
Digital Barriers plc
31 October 2017
31 October 2017
Thruvision Group plc
Completion of Disposal
Thruvision Group plc (AIM: THRU), ("Thruvision" the "Company"
or, together with its subsidiary undertakings, the "Group") the
specialist provider of people-screening technology to the global
security market, announces that the Disposal of the Group's Video
Business to Volpi has now completed. This follows the approval of
all resolutions at the Company's General Meeting held on 26(th)
October 2017.
Accordingly, Digital Barriers plc has now changed its name to
Thruvision Group plc to better reflect the business of the
Continuing Group. It is expected that from 8.00 a.m. tomorrow,
Wednesday 1 November, the Company's ordinary shares will trade on
the AIM market of the London Stock Exchange under the new name of
Thruvision Group plc and its Tradable Instrument Display Mnemonic
will be changed to "THRU" (from "DGB").
Upon Completion, the following Board changes became
effective:
-- Zak Doffman, the Company's Chief Executive Officer, has
stepped down from the Board with immediate effect and will join the
Video Business;
-- Tom Black, Non-executive Chairman, has become Executive Chairman;
-- Colin Evans, Chief Operating Officer, has become Managing Director; and
-- Sharon Cooper, Chief Financial Officer, has stepped down from
the Board with immediate effect and will leave the Company
following a short transition period.
It is anticipated that the Company will announce Interim results
for the 6 months ended 30 September 2017 in mid-December 2017. In
addition the Board is currently reviewing the process required to
implement the previously reported return of capital to shareholders
and it is expected that this return of capital will complete in Q1
2018.
Notes
Capitalised terms contained in this announcement shall have the
same meaning given to them in the announcement dated 9 October
2017.
For further information please contact:
Thruvision Group plc
Tom Black, Executive Chairman
Colin Evans, Chief Operating Officer +44 (0)20 3553 5888
Investec Bank plc (Financial Adviser,
NOMAD & Broker)
Andrew Pinder / Sebastian Lawrence /
Patrick Robb +44 (0)20 7597 5970
FTI Consulting LLP
Edward Bridges / Matt Dixon / Harry
Staight +44 (0)20 3727 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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