Gloo Networks PLC Appointment of Non-Executive Chairman (0298J)

TIDMGLOO

RNS Number : 0298J

Gloo Networks PLC

15 December 2015

Gloo Networks plc

("Gloo" or "the Company")

Gloo Networks appoints Vivendi's Arnaud de Puyfontaine as Non-Executive Chairman

London, 15 December 2015 - The Board of Gloo Networks plc, a technology company established to acquire and operate companies in the media sector, is pleased to announce the appointment of Arnaud de Puyfontaine, as Non-Executive Chairman of the Company, effective immediately.

Mr de Puyfontaine is Chief Executive of Vivendi, the French media group. He is also a Non-Executive Director of Schibsted, a Scandinavian media group.

Along with the other Directors, he will be responsible for the overall management and strategic direction of Gloo. His extensive experience of media (and especially digital media) will be key to the successful implementation of the Company's strategy.

Rebecca Miskin, Gloo Chief Executive Officer said: "Arnaud's vision and strategic thinking will be of enormous benefit to Gloo as we execute our strategy. He is one of the leading figures in the global media industry and we're delighted to have secured someone of his calibre to our Board. He will bring a tremendous depth of insight and experience into the boardroom."

Arnaud de Puyfontaine said: "I am delighted to be joining Gloo Networks at this critical stage in the company's development, and when the structural changes in the media industry are generating a wealth of opportunities. Rebecca and her team have the energy, skills and experience to transform businesses and create real, sustainable value for Gloo's shareholders."

Enquiries:

Liberum Capital Limited (Nominated Adviser and Joint Broker)

Tel: [phone]

Neil Elliot

Chris Clarke

Jonathan Wilkes-Green

Numis Securities Limited (Joint Broker)

Tel: [phone]

Lorna Tibian

Nick Westlake

James Sarjeant

Temple Bar Advisory

Tel: [phone]

Ed Orlebar/Tom Allison

[phone]/[phone]

Notes to Editors

Arnaud de Puyfontaine

Arnaud de Puyfontaine joined Vivendi in November 2013 as Senior Executive Vice President, Media and Content activities and was appointed Chief Executive Officer of Vivendi in June 2014. Vivendi S.A. (market cap. c.EUR26.4bn) is the owner of Universal Music Group, the world leader in music, and Canal+ Group, a European leader in pay TV and European TV and film production.

Previously, Mr. de Puyfontaine was employed by the Hearst Corporation as Chief Executive Officer Hearst UK. In 2011, he led the acquisition and integration of 102 brands from the Lagardère Group, before being appointed Managing Director of Western Europe in August 2013. Whilst at Hearst Corporation Arnaud worked alongside Gloo's Chief Executive Officer Rebecca Miskin, and successfully managed an iconic media portfolio which included Cosmopolitan, Elle, Good Housekeeping and Harper's Bazaar.

Prior to this, Mr de Puyfontaine was Chairman and Chief Executive Officer of Editions Mondadori France, becoming General Head of all digital business for the Mondadori Group.

Mr de Puyfontaine joined Emap France in 1995, where as a member of the founding team, he was responsible for Télé Poche, Studio Magazine and establishment of the Emap Star Division. He was appointed Chief Executive Officer of Emap France in 1998 and joined the board of Emap Plc in 2000.

Arnaud de Puyfontaine is a graduate of the ESCP, the Multimedia Institute and Harvard Business School.

About Gloo Networks Plc

Gloo listed on the AIM market of the London Stock Exchange in August, successfully raising GBP30 million from a range of financial institutions including Marwyn, Invesco, Standard Life, Ruffer and City Financial.

Gloo intends to acquire and operate trusted consumer brands in the media sector, initially with an enterprise value in the range of GBP250 million to GBP1 billion. The Company is led by digital transformation experts Rebecca Miskin (Chief Executive Officer), formerly Digital Strategy Director and Change Agent at Hearst Magazines UK, and Juan Lopez-Valcarcel (Chief Product and Operations Officer), who was previously Chief Digital Officer for Pearson International.

Gloo is seeking to benefit from the changing relationship between consumer brands, media owners and the advertising industry; this relationship continues to experience structural change, driven by the evolving prevalence of internet usage and the increasing adoption of data analytics, allowing businesses to better understand and serve consumers. The convergence of the internet and media sectors has created multiple investment opportunities with numerous companies or businesses identified within Gloo's target universe.

Gloo intends to acquire businesses that appeal to attractive socio-economic groups, and through the use of data and technology, transform these businesses to fully realise their digital potential, thereby unlocking value and increasing profitability.

Further regulatory disclosures

Directorships

Other than as disclosed below, there are no further disclosures to be made in accordance with paragraph (g) of Schedule Two of the AIM rules for Companies:

-- Arnaud Nicolas Philippe Maxime Georges Roy de Puyfontaine (51) is currently a Director or Partner of:

o Vivendi SA

o Group Canal+ SA

o Studiocanal SA

o Universal Music France SAS

o Kepler SAS

o Schibsted ASA

o Innit SAS

o Melty Group SAS

o SCI Puyf

o Maximepuyf SC

o SCI Renaissance de Riviere Salee 1

o Quentinpuyf SC

o Inespuyf SC

o Alicepuyf SC

-- During the previous five years, Arnaud de Puyfontaine has served as (but is no longer appointed as) a Director or Partner of:

o GVT Participaçoes SA

o The National Magazine Company Limited

o Hearst-Rodale UK Limited

o Handbag.com Limited

o Hearst Magazines UK 2012-1 Ltd

o F.E.P. (UK) Limited

o COMAG (Condé Nast Magazine Distributors Limited)

o Compagnie Internationale de Presse and de Publicité CIPP

o Hearst Magazines, S.L.

o Hearst Magazines Italia S.p.A

o Netdoctor.co.uk Ltd

o Netdoctor Limited

o Natmag Investments Limited

Dealings

Puyfamily Société Civile, a company in which Arnaud de Puyfontaine has a life interest and his children have a residual interest, has subscribed for 10 A ordinary shares ("A Shares") in Gloo's wholly owned subsidiary Gloo Networks Jersey Limited for an aggregate amount of GBP2,000.

In certain circumstances the A Shares are exchangeable for ordinary shares in the Company. Further information regarding the A Shares is contained in the Company's admission document dated 11 August 2015 which is available on the Company's website. The subscription does not increase the aggregate amount that may become payable by the Company in respect of all of the A Shares and reallocates such aggregate amount (if payable) between the holders of such A Shares. The scheme provides its participants with a reward based on the creation of value for shareholders, provided that a preferential return of 10% per annum to shareholders has been achieved. The maximum aggregate value to the participants under the scheme is 15% of the shareholder value created, less the value of outstanding awards under any other employee incentive arrangements implemented by the Company or its group.

Following this subscription, Rebecca Miskin, Juan Lopez-Valcarcel, Puyfamily Société Civile and Marwyn Long Term Incentive LP (in which James Corsellis and Mark Brangstrup Watts have a beneficial interest) hold 38.5%, 15.4%, 7.7% and 38.5% of the A Shares in issue respectively.

-- Ends --

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December 15, 2015 02:00 ET (07:00 GMT)