REG - Pennant Int. Group - Appointment of NED & Interim CFO

Pennant InternationalAnnouncement

03/09/2024 07:00

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RNS Number : 5874C  Pennant International Group PLC  03 September 2024

 

 

3 September 2024

 

PENNANT INTERNATIONAL GROUP PLC

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

 

 

Appointment of Non-Executive Director

and Interim CFO

 

Evolution of board and senior management team through two appointments

 

 

Pennant International Group plc (AIM:PEN), the systems support and training
solutions company, is pleased to announce the appointment of Klaas van der
Leest as Non-Executive Director with immediate effect. Mr van der Leest has an
extensive track record of growing software-led businesses and has significant
expertise in product delivery, sales development, and marketing strategies.

 

Mr van der Leest is currently Chief Executive Officer of Intercede Group PLC,
an AIM-quoted cybersecurity business which has seen revenue growth of 100%
since his appointment in 2018. Prior to Intercede, he was Managing Director at
Intelecom UK Ltd., an independent private equity-backed communications SaaS
business, leading the organisation's transformation, and trebling subscription
licence sales over a three-year period. Mr Van der Leest has held various
other senior executive positions for UK technology businesses with a focus on
product development and sales strategies.

 

The Company also announces the appointment of Darren Wiggins as Interim CFO on
an eight-month fixed term contract with effect from 16 September 2024 (a
non-Board appointment). Mr Wiggins is a chartered accountant and an
experienced executive having previously held senior finance and operational
roles within Meggitt Aerospace and Melrose plc. With strong experience in
strategic financial planning, Mr Wiggins will be providing full support to the
Board as the Group heads towards year-end and into 2025.

 

Ian Dighé, Chairman, commented:

 

"We are delighted to welcome Klaas to the Board as a Non-Executive Director.
His considerable public market experience together with his track record of
supporting growing technology-led businesses will undoubtedly be an invaluable
asset to Pennant as it evolves its proprietary integrated software suite. The
Board looks forward to working with Klaas and leveraging his knowledge and
experience to support the Company through its next stage of growth."

 

"The Board also welcomes Darren as interim CFO, whose significant operational,
financial and industry expertise will further strengthen and complement the
skillsets of the existing senior management team."

 

Further disclosures pursuant to Schedule Two, paragraph (g) of the AIM Rules
for Companies.

 

Klaas Peter van der Leest is currently or has previously been a director or
partner of the following companies or partnerships within the past five years.

 

 Current directorship/partnership          Previous directorship / partnership within the past five years
 Intercede Group PLC                       n/a
 Intercede Limited
 Intercede 2000 Limited
 Authlogics Limited
 Thorley Close Management Company Limited
 Puzzel Limited

 

Mr van der Leest does not hold an interest in the Company's share capital.

 

Enquiries:

 Pennant International Group plc                                       www.pennantplc.com (http://www.pennantplc.com/)
 David Clements, Company Secretary                                     +44 (0) 1452 714 914

 Zeus (Nomad)                                                           www.zeuscapital.co.uk (http://www.zeuscapital.co.uk/)

 Mike Coe / Sarah Mather (Investment Banking)                          +44 (0) 203 829 5000 (tel:+44%20203%20829%205000)

 Cavendish Capital Markets Limited (Broker)                            www.cavendish.com (http://www.cavendish.com/)
 Ben Jeynes / Callum Davidson / George Lawson (Corporate Finance)      +44 (0) 207 220 0500
 Michael Johnson / Dale Bellis / Sunila de Silva (Sales and Corporate
 Broking)

 Walbrook PR (Financial PR)                                            pennant@walbrookpr.com (mailto:pennant@walbrookpr.com)
 Tom Cooper                                                            +44 (0)20 7933 8780

 Joe Walker                                                            Mob: +44 (0)7971 221 972

 

Notes to editors:

Pennant International Group plc (AIM: PEN) is a technology driven, leading
global provider of system support services, technical services, and training
solutions. It supports its global customer base in the design, development,
operation, maintenance, and training of complex assets, to maximise
operational and maintenance efficiency.

Its key markets include Aerospace, Defence and Rail, and adjacent
safety-critical markets such as Shipping, Nuclear and Space.

 The Group addresses the market through three key business lines:

•     Systems support: software tools designed to help clients: manage
and use complex data; ensure equipment availability at optimal cost; and
comply with industry standards.  Its Integrated Product Support (IPS) and
Integrated Logistics Support (ILS) software and services equips customers with
powerful market-leading toolsets to manage, model and utilise complex
equipment data.

•     Training solutions: provide hardware, software and virtual
solutions, critical skills training for maintainers and operators of aircraft,
ships and land systems.

•     Technical services: support all Pennant's software and training
solutions including consultancy, support and maintenance, training and bespoke
development.

The Company's full product suite encompasses consultancy, technical
documentation, rail services, training services, and bespoke engineering
solutions.

Pennant is strategically focused on sustainable recurring revenue and
profitability growth, shifting its model towards high margin software and
services. Against a climate of rising defence budgets and the burgeoning
technological complexity of military, aviation and rail platforms, the demand
for these solutions is expected to grow substantially.

Headquartered in Cheltenham, UK, the Group operates worldwide, with offices in
Europe, North America and Indo-Pacific, serving markets with high barriers to
entry often in regulated industries.

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