REG - Pennant Int. Group - Directorate Change

Pennant InternationalAnnouncement

14/08/2024 07:00

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RNS Number : 3319A  Pennant International Group PLC  14 August 2024

 

 

14 August 2024

PENNANT INTERNATIONAL GROUP PLC

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

 

 

Directorate Change

 

 

Pennant International Group plc (AIM:PEN), the systems support and training
solutions company, provides the following Board update.

 

Michael Brinson, Chief Financial Officer, has resigned to pursue other
opportunities. Mr Brinson will work a short handover period and is expected to
cease employment on 31 October 2024. He will step down as a Director with
immediate effect. The Board wishes him well in all his future endeavours.

 

The Company has commenced the process to identify and recruit a new CFO, and
in the meantime intends to appoint an interim senior finance executive to
support the Board. A further update will be provided in due course.

 

 

 

.

 

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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