TIDMIDE

RNS Number : 0561D

IDE Group Holdings PLC

05 October 2018

IDE Group Holdings Plc

("IDE", the "Group" or the "Company")

Board Changes

IDE Group Holdings plc, the mid-market network, cloud and IT managed services provider, today announces that Bill Dobbie has stepped down from the Board. Andy Parker, current Non-Executive Director will replace Bill Dobbie as Non-Executive Chairman with immediate effect. The Company also announces the appointment of Max Royde, co-founder of Kestrel Partners LLP, a London based fund management business, as Non-Executive Director.

As at the date of this announcement Kestrel Partners LLP holds 36,104,771 ordinary shares of 2.5 pence each in capital of the Company ("Ordinary Shares") representing approximately 17.99 per cent. of the issued share capital and holds GBP1.65 million of loan notes, convertible at 2.5 pence per Ordinary Share.

The following disclosures are made in relation to paragraph (g) of Schedule Two of the AIM rules for Companies.

 
 Full Name                                            Matthew Max Edward Royde 
 Age                                                  46 
                                                     --------------------------------------------- 
 Current Directorships                                Past Directorships within the 
                                                       last 5 years 
                                                     --------------------------------------------- 
 
   *    Kestrel Partners LLP                                       *    Gresham Computing Plc 
 
 
   *    Kestrel Investment Partners LLP                            *    Castle Street Holdings Plc 
 
 
   *    Charles Connell & Company Holdings Limited 
 
 
   *    Ingenta Plc 
 
 
   *    Track Record Holdings Limited 
 
 
   *    Trailight Ltd 
 
 
   *    Elms Road Capital Limited 
 
 
   *    Findlay Park Partners LLP 
                                                     ---------------------------------------------

Max Royde was appointed as a director of Hotel Buyer Limited on 10 October 2000 and resigned on 10 May 2005. On 31 May 2005, the company passed an extraordinary resolution to put the company into members' voluntary liquidation. The company was dissolved on 26 January 2008.

 
 IDE Group Holdings Plc                      Tel: +44 (0)344 
  Andy Parker, Non-Executive Chairman         874 1000 
  Ian Smith, Executive Director 
 finnCap Limited                             Tel: +44 (0)20 7220 
  Nominated Adviser and Broker                0500 
  Corporate finance: Jonny Franklin-Adams/ 
  Scott Mathieson/ Hannah Boros 
  ECM: Tim Redfern/ Richard Chambers 
 MXC Capital Markets LLP                     Tel: +44 (0)20 7965 
  Financial Adviser                           8149 
  Charlotte Stranner

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

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October 05, 2018 02:00 ET (06:00 GMT)

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