THRU Thruvision Group Plc

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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