TIDMCNIC
RNS Number : 8214L
CentralNic Group PLC
24 July 2017
Press Release 24 July 2017
CentralNic Group plc
("CentralNic" or "the Company" or "the Group")
Board Changes
CentralNic Group plc (AIM:CNIC), the internet platform that
derives revenue from the worldwide sales of internet domain names,
announces that Don Baladasan joins the Board of CentralNic Group
plc today as Chief Financial Officer of the Company, returning to
the Group that he was Chief Financial Officer of from April 2010 to
February 2014, overseeing the financial function at the Group's IPO
in 2013.
Don, a Chartered Management Accountant, has several years'
experience of being Finance Director of AIM listed companies. Over
the last five years he has assisted AIM listed businesses in
raising GBP25 million of equity in addition to overseeing a series
of acquisitions including reverse takeovers. Don has several years'
experience of integrating internationally acquired companies from a
finance, governance and commercial perspective. This experience was
gained at Stemcor, an international steel trader which at the time
had operations in 46 countries and a turnover in excess of GBP6bn,
where Don was Head of Accounting Development.
Don initially studied Medicine at Guys Hospital before
completing a BSc in Economics at CASS Business School. He was then
awarded a place on the Financial Times graduate scheme where he
trained as a Chartered Management Accountant.
Ben Crawford, CEO of CentralNic, said: "We welcome Don back to
CentralNic with his wealth of experience from financial expertise
to buy & build and risk management. These skills are
particularly pertinent as CentralNic prepares to the go through the
next stage of its growth. With his previous input and knowledge of
CentralNic, he understands both the business and the industry and
will be able to contribute from day one."
Glenn Hayward has chosen to leave his position with the Group to
pursue other opportunities. Mr Hayward's responsibilities included
Chief Financial Officer, Board Director and Company Secretary.
Mike Turner, CentralNic's non-executive Chairman, said: "The
Board wishes to thank Glenn for the dedicated service and
professionalism he has brought to the business over the past three
years and we wish him every future success."
Ben Crawford, the Company's CEO, said: "I would like to thank
Glenn for his work in helping me to develop the business in recent
years and I wish him the very best of luck for the future."
The information on Donald Ahelan Baladasan required to be
disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM
Rules for Companies is as follows:
Donald Ahelan Baladasan, aged 43, is currently a director of the
following companies:
Totally plc
Balmoor Ltd
Optimum Sports Performance Centre
Ltd
Mataxis Ltd
Zombit Ltd
About Health Ltd
D4B Ltd
ZoopaChat Ltd
Opes MRF 2013 Ltd
Premier Physical Healthcare Ltd
Mobi Capital Ltd
The Healthcare Property Company
Opes Industries Ltd (in Administration)
In addition, Don has held the following directorships in the
past five years:
Classic Leather Ltd
Northern Land Developments
Ltd
Foxley Stables Ltd
PureCycle Ltd
Whois Privacy Ltd
GB.com Ltd
TLD Registrar Solutions Ltd
CentralNic Group plc
Oncotherapy Resources Ltd
CareCapital Ltd
Advanced Oncotherapy Ltd
Opes MRF 2013 Ltd
Sebaris Ltd
Mr Baladasan was a director of Opes industries and Opes MRF 2013
Limited which were put into administration on 9th March 2016. The
Group of companies had entered in to a loan agreement with Shore
Capital for GBP8.8 million. In February 2016, recycling facilities
operated by Opes MRF 2013 Ltd were subject to a fire. This put a
halt to operations and business and resulted in the business not
being able to generate sufficient cash to meet loan repayments.
Shore Capital, appointed an administrator to recover their previous
investment of GBP8.8 million. Opes Industries and Opes MRF 2013
subsequently filed for insolvency and the administration is still
on going until 8th March 2018.
There is no further information on Don Baladasan required to be
disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM
Rules for Companies.
For further information:
CentralNic Group plc
Ben Crawford, Chief Executive
Officer +44 (0) 203 388 0600
Don Baladasan, Chief Financial
Officer
Zeus Capital - Nomad and
Joint Broker
Nick Cowles / Jamie Peel +44 (0) 161 831 1512
John Goold / Alex Davies +44 (0) 203 829 5000
Peel Hunt LLP - Joint Broker
Richard Kauffer / Euan Brown
(Corporate) +44 (0) 207 418 8900
Alastair Rae (Syndications)
Abchurch Communications
Julian Bosdet / Dylan Mark
/ Alejandra Campuzano +44 (0) 207 398 7719
centralnic@abchurch-group.com www.abchurch-group.com
About CentralNic Group plc
CentralNic (AIM: CNIC) is a London-based AIM-listed company
which operates globally with customers in over 200 countries. It
earns revenues from the worldwide sales of internet domain names
using its proprietary technology platform. CentralNic sells these
domain names on an annual subscription basis. Customers pay for
domain names upfront, making CentralNic a cash-generative business
with annuity revenue streams.
CentralNic comprises of three business lines within the domain
name industry including wholesale, retail and enterprise divisions.
It operates a global network, supplying domain names to over 1,500
vendors in 77 countries to reach over 100,000 resellers. CentralNic
is the exclusive wholesaler for over 30 new Top-Level Domain
(nTLDs) extensions such as xyz, .site, .online, .website, .space,
and .tech (the new alternatives to .com and .net). They rank
amongst the top 20 most subscribed nTLDs. About one in three of all
domains registered under nTLDs globally use the CentralNic
platform. This positions CentralNic as the leading global supplier
with more than eight million of these domains under management.
CentralNic is also a leading global domain name retailer, with
retail websites including internetbs.net, buydomains.london and
domain.luxury. After acquiring Instra Group, CentralNic Group now
includes instra.com and a number of other leading retail websites.
Through its enterprise programme, CentralNic supplies domain names
(itself owning approximately 37,500 premium domain names that it
trades), software and services directly to large companies and
governments including Saudi Telecom Company, Etisalat and Kuwait
Finance House.
For more information please visit: www.centralnic.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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