Maestrano Group PLC Resignation of CFO (1208K)

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RNS Number : 1208K

Maestrano Group PLC

23 August 2019

23 August 2019

Maestrano Group PLC ("Maestrano" or the "Company" or the "Group")

Resignation of CFO

Maestrano Group PLC (AIM: MNO), the open platform for master data management and business analytics, announces that the Company's CFO, Craig Holden is resigning with effect from 30 August 2019, to take up another position in Australia. Existing senior finance staff already in place will continue to manage the financial affairs of the company until a new CFO is appointed to the board in due course, based in the UK. The requirements of the role will be influenced by the outcome of acquisition discussions previously announced.

The Company is continuing to undertake diligence into the potential acquisition announced on 15 July 2019 and continues to look at other M&A opportunities although these remain at relatively early stages and no formal commitments have been entered into.

Andrew Pearson, CEO of Maestrano, commented:

"We are making good progress with M&A discussions and the opportunity announced on 15 July remains our primary focus. We are taking great care with due diligence and shareholders would expect and believe it is prudent to allow adequate time to complete the various tasks. We are sorry to say farewell to Craig and thank him for his considerable efforts for the company. He has been considering this move for some time and we have adequate resources in place to fulfill all reporting and management obligations."

Ian Buddery, Chairman of the Board, said:

"It has long been our plan to relocate the CFO function to the UK, which Craig understood. He has been offered another role in Australia which required a prompt decision on his part, and we are happy to support this. I have known Craig for 30 years and it has been a pleasure and privilege to work with him."

Enquiries:

 
Maestrano Group plc                                c/o IFC 
 Ian Buddery, Chairman 
 Andrew Pearson, CEO 
Grant Thornton (Nominated Adviser)                 [phone] 
 Colin Aaronson / Jamie Barklem / Niall McDonald    5100 
Arden Partners (Broker)                            [phone] 
 Ruari McGirr / Ciaran Walsh / Alex Penney          5900 
IFC Advisory Limited (Financial PR & IR) 
 Graham Herring / Miles Nolan / Zach Cohen 
 [e-mail]               [phone] 
 [e-mail]                   6630 
 

About Maestrano

Maestrano develops and deploys a patented cloud-based Platform as a Service that serves the needs of Small to Medium Businesses (SMBs) and large Enterprises to access real time, automated management data efficiently on an integrated platform. This technology is called Master Data Management (MDM).

Further information on the Group is available at www.maestrano.com

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August 23, 2019 11:01 ET (15:01 GMT)