TIDMBIDS
RNS Number : 7842V
Bidstack Group PLC
10 April 2019
Certain information contained within this Announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon
publication of this Announcement, this information is considered to
be in the public domain.
10 April 2019
Bidstack Group PLC ("Bidstack or "the Company")
Appointment of Mike Hayes as Non-Executive Director
Over 30 years' games experience including SEGA, Codemasters and
Nintendo
Bidstack Group plc (AIM: BIDS.L) the native in-game advertising
group, is pleased to announce the appointment of Michael ("Mike")
Hayes as a Non-Executive Director of the Company with immediate
effect. In addition, Mike will be appointed to the Audit and
Remuneration Committees.
Mike has a wealth of experience in the video games industry
having spent eight years at SEGA, latterly as CEO of SEGA Europe
and America which had annual revenues in excess of GBP400 million
and where he was responsible for over 1,000 employees, oversaw
seven sales and marketing territory operations and five internal
studios. During his time at SEGA he was responsible for the
acquisitions of The Creative Assembly and Sports Interactive and
implemented a major restructuring programme to maximise the
company's opportunity for digital growth. During his tenure, SEGA
became established as a top 10 worldwide publisher of video games,
including titles such as 'Mario and Sonic at the Olympics'.
Prior to SEGA, Mike spent five years as Sales and Marketing
Director on the Board of Codemasters, the award-winning British
developer and publisher of high quality racing games, having
started his career in video games at Nintendo. For over five years,
Mike was Sales and Marketing Director at Nintendo, responsible for
hardware and software. He oversaw the launch of famous brands
including Mario, Zelda, Donkey Kong and Streetfighter as well as
the launch of the Gameboy handheld device.
Mike is currently an Investment Director at AIM listed Mercia
Technologies PLC where he is Head of Digital and Digital
Entertainment.
James Draper, CEO of Bidstack, commented, "Mike's appointment to
the Board is a huge feather in our cap and reflects the strength of
the opportunity ahead. He has over 30 years of unrivalled
experience and has been directly involved in some of the major
industry developments in that time. He also has an excellent track
record of working with and advising growing companies, as shown
through his role with Mercia, and I'm extremely excited to be able
to lean on his experience as we continue to grow and develop."
Mike Hayes said, "I am delighted to be joining Bidstack's Board.
Having worked on some of the world's most iconic brands including
Sega, Nintendo, Trivial Pursuit and Bandai toys, more recently I
have extended my experience to growth funding with new digital
start-ups in the entertainment sector. I'm really looking forward
to using my experience in creative and production, publishing
services and managing global businesses to help grow Bidstack."
Further information on Mike Hayes is set out below.
Contacts
Bidstack Group PLC
James Draper, CEO +44 (0) 7850 341 885
SPARK Advisory Partners Limited (Nomad)
Mark Brady/Neil Baldwin/James Keeshan +44 (0) 203 368 3550
Peterhouse Capital Limited (Broker)
Eran Zucker/Lucy Williams/Duncan Vasey +44 (0) 20 7409 0930
Alma PR
Josh Royston/Rebecca Sanders-Hewett +44 (0) 203 405 0205
Further information on Mike Hayes:
Michael Hayes (aged 58) is not currently a director of any other
company but has, in the past five years, been a director of
Virttrade Developments Limited, Mercia Fund Management (Nominees)
Limited, NDreams Limited, Virtrade Limited and Hayes Associates
Consulting Limited.
In addition to the above Michael Hayes was also director of the
following companies:
-- Mr Hayes was appointed to the boards of each of Aframe Media
Services Limited ("AMSL") and Aframe Media Group Limited ("AMGL"),
its holding company, in February 2013, to represent AMGL's
principal institutional investor. The group operated as a software
as a service provider of a cloud platform for video collaboration.
AMGL raised significant funding from equity investors and secured
debt mainly from its principal institutional investor. Following an
extensive but, ultimately, unsuccessful attempt to sell the
business, administrators were appointed to both AMSL and AMGL on 28
April 2016 and, on the same day, the business was sold, following a
valuation of its assets by a third party valuer, to a purchasing
company in which the institutional investor held a minority equity
stake. The secured creditors were consulted and were fully
supportive of the sale. Approximately GBP99,086 was realised in the
administration of AMSL. The creditors of AMSL were owed
approximately GBP14.6m, of which GBP14.3m was owed to AMGL. In
January 2018, the unsecured creditors of AMSL received a dividend
of 0.67pence in the GBP. Approximately GBP96,865 was realised in
the administration of AMGL all of which was used to meet the costs
of the administration and to partially satisfy the claims of the
institutional investor mentioned above. The secured creditors of
AMGL were left with a shortfall of approximately GBP5.3m, but AMGL
had no preferential or unsecured creditors.
-- Mr Hayes invested in and joined the board of Caperfly
Limited, a computer game publishing company, on 20 December 2012.
He resigned from the board on 10 July 2013. Caperfly Limited
entered into Creditors' Voluntary Liquidation on 5 November 2013.
GBP21,397 was realised from the company's assets all of which was
used to meet the costs of the liquidation and to partially satisfy
the claims of a secured creditor. Secured claims of approximately
GBP134,500, preferential unsecured claims of GBP13,564 and
non-preferential unsecured claims estimated to be GBP249,345, were
left unsatisfied.
There is no further information on Mike Hayes required to be
disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM
Rules for Companies.
As part of his package, the Company intends to grant Mr Hayes
options over 1 million shares exercisable, in respect of 70% of
such options, at 14.43 pence per share and, in respect of the
remaining 30% at 20 pence per share. Mr Hayes does not have any
other interest in the issued share capital of Bidstack.
ENDS
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.
END
BOADMGMDGGGGLZM
(END) Dow Jones Newswires
April 10, 2019 06:46 ET (10:46 GMT)
Bidstack (LSE:BIDS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bidstack (LSE:BIDS)
Historical Stock Chart
From Jul 2023 to Jul 2024