WANdisco Plc Re-instatement of David Richards (8542L)

TIDMWAND

RNS Number : 8542L

WANdisco Plc

06 October 2016

6 October 2016

WANdisco plc

("WANdisco" or the "Company")

Re-instatement of David Richards

The Board of WANdisco (AIM: WAND) today announces that David Richards has been reappointed to the Board and as Chief Executive Officer of the Company with immediate effect. David will also assume the role of Interim Chairman until such time as a suitable candidate can be appointed.

The Board also intends making further appointments to the Board, with details to follow in due course.

The Company confirms that WANdisco continues to trade in line with the expectations referenced at the time of the Company's Interim Results published in August 2016. There is a good pipeline of bookings and cash costs continue to decline which, combined with the new equity funding secured in June, have enabled WANdisco to remain on a path toward cash flow break-even.

David Richards, CEO of WANdisco, commented:

"I am delighted to be returning to WANdisco with the express backing of approximately 58% of our institutional shareholder base. I have never lost sight of the tremendous opportunities that exist across our business: we have developed a truly world class product portfolio which continues to underpin our strong new business pipeline.

"I look forward to updating the market of our continued strategic progress over the coming months in addition to confirming a number of new Board appointments."

For further information please contact:

 
 WANdisco plc 
 David Richards, CEO and Interim 
  Chairman                            via Vigo Communications 
 
                                      [phone] 
 Vigo Communications                   9700 
 Jeremy Garcia / Fiona Henson / 
  Antonia Pollock 
 
                                      [phone] 
 Investec (Joint Broker and NOMAD)     4000 
 Christopher Baird / Dominic Emery 
 
 UBS (Joint Broker)                   [phone] 
  Rahul Luthra / Sandip Dhillon        8000 
 
 

About WANdisco plc

WANdisco (LSE: WAND) is a provider of enterprise-ready, non-stop software solutions that enable globally distributed organizations to meet today's data challenges of secure storage, scalability and continuous availability. WANdisco's products are differentiated by the company's patented, active data replication technology, serving crucial continuous availability requirements, including Hadoop Big Data and Application Lifecycle Management (ALM), including Apache Subversion and Git. Fortune Global 1000 companies, including Juniper Networks, Motorola, Intel and Halliburton, rely on WANdisco for performance, reliability, security and availability. For additional information, please visit www.wandisco.com.

Appendix

As required under Schedule 2(g) of the AIM Rules for Companies, WANdisco confirms the following; David James Richards (45) has been a director of the following companies:

 
 Current Directorships / partnerships   Previous Directorships / 
                                         Partnerships 
                                        WANdisco plc 
                                        WANdisco, Inc 
                                        WANdisco International Limited 
                                        1Spatial plc 
                                        Heffalump Limited 
 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 06, 2016 02:01 ET (06:01 GMT)