Bidstack Group PLC Directorate Change (4685N)
30 September 2021 - 4:00PM
UK Regulatory
TIDMBIDS
RNS Number : 4685N
Bidstack Group PLC
30 September 2021
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") as applied in
the United Kingdom. Upon publication of this Announcement, this
information is now considered to be in the public domain.
30 September 2021
Bidstack Group Plc
("Bidstack" or the "Company")
Directorate Change
Bidstack Group Plc (AIM: BIDS), the native in-game advertising
group, announces that John McIntosh has informed the Board that he
would like to resign from his executive board position as Chief
Financial Officer with effect from 30 September 2021 in order to
pursue other business opportunities.
John joined the board on Bidstack's admission to AIM in
September 2018 and has been a valued member of the management team
during a transformational time for the Company. The Board would
like to thank John for his contribution and leadership during his
tenure and wish him well for his future endeavours.
John has agreed to join Bidstack's advisory committee so that
his knowledge will not be lost to the business.
Over the coming months Bidstack will be conducting an executive
search to fill the board role vacated by John and will make further
announcements on the progress of this process as necessary in due
course.
In the meantime, Bhavesh Hirani, Head of Finance, will act as
Interim Chief Financial Officer of the Company. Bhavesh is a
qualified Chartered Management Accountant and joined Bidstack in
November 2020 from Reward Insight Ltd, an award winning customer
loyalty platform. He previously held roles with Havas and
Playphone. Bhavesh has an effective track record in scaling up high
growth mid-market enterprises and leading strong performing
teams.
James Draper, CEO of Bidstack said:
"I would like to thank John for his tireless commitment to
Bidstack and the Board over the past three years. He has led the
business from its early stages, through its successful admission to
AIM in September 2018, to becoming a multi-market business across
the UK, US and Latvia.
"During John's tenure he has played a key role in strengthening
our balance sheet, most recently with our GBP10.8 million fundraise
in July 2021, having raised approximately GBP27 million since
inception, strengthened our leadership team and made significant
commercial progress from our formative strategic partnerships with
Sports Interactive and Codemasters to our growing portfolio of
titles as we scale.
"We have attracted a roster of premium brands through our
agencies, approved partners and DSPs throughout this period. John
leaves the business well capitalised with a solid foundation to
build upon, generating increasing revenues across an expanding
portfolio of games, and well positioned to attract further games
and create additional revenues.
"He has been a friend and mentor and I want to put on record how
much his support has meant to me personally.
"I have enjoyed working closely with Bhavesh over the past
months and I look forward to collaborating with him on the exciting
opportunities that lay ahead."
John McIntosh, outgoing CFO of Bidstack, said:
"I have enjoyed the past three years working alongside James and
the Board on making a market at the intersection of ad-tech and
gaming. I am proud of the evolution of the business as the market
responds to the value proposition of providing a sustainable source
of monetisation for publishers and a lucrative audience for premium
brands to reach. I wish James and the team every success as they
grow the portfolio, enter new markets and scale the business."
-ENDS-
Contacts
Bidstack Group Plc
James Draper, CEO via Buchanan
SPARK Advisory Partners Limited (Nomad) +44 (0) 203 368
Mark Brady / Neil Baldwin / James Keeshan 3550
Stifel Nicolaus Europe Limited (Joint
Broker) +44 (0) 20 7710
Fred Walsh 7600
Buchanan Communications Limited
Chris Lane / Stephanie Watson / Kim van
Beeck +44 (0) 20 7466
bidstack@buchanan.uk.com 5000
Notes to editors
About Bidstack
Bidstack is an advertising technology company which provides
dynamic, targeted and automated native in-game advertising for the
global video games industry across multiple platforms. Its
proprietary technology is capable of inserting advertisements
within video games. Bidstack's customers are games publishers and
developers (on the supply side), and advertising agencies, brands
and media-buying platforms (on the demand side).
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