Good to see some intraday volume, rather than little or none of late, however is the share price being managed until the outcome of the raise is known in full? [eod close tomorrow] |
Broker note out now on Research Tree. |
Recording now available. |
I thought it was very informative and they came across well with a clear strategy in place. Delivered 13% organic growth in H2 2024, rebuilding the sales organisation and Trustream acquired before the current team was installed is going well. Hoping to complete another acquisition by the end of the year. |
Any feedback from the call would be much appreciated. |
Really enjoyed the Investor meet presentation. Looks like a very good team in place and significant growth potential! |
Hi rivaldo and other posters and holders,
I initially followed Martin Flitton into SYS.
After Hejae took his stake in the middle of last year, and began to make changes to management and senior employees I became much more interested in the company and bought a more serious long term holding. I asked Cpapman if it was possible to add a chart to the header, to allow easy monitoring of intraday trades [if any!] from my mobile device, but received no reply. I assumed that Cpapman had moved on and that despite there being much historical info of interest on this thread, that a new thread with a more useful [to me at least] header would coincide with the changes at the top.
I'm sorry if this has upset some of the longer term posters and understand that some are not happy with changes, preferring the old. I don't really see a problem if there are two threads running, and will keep the other one up to date and use it for monitoring. |
Please can we just stick to this one thread with all the useful prior info and posts! |
Hybridan Small Cap Feast: 07/06/2024
SysGroup 34.5p £16.9m (SYS.L)
The technology partner for delivery and management of cloud, data and security to power Artificial Intelligence and Machine Learning transformation, announces that further to the announcement at 5:11 p.m. on 6 June 2024, it has successfully conditionally completed and closed the conditional oversubscribed Placing and Subscription to raise gross proceeds of £11m at an issue price of 33p per share. Approximately £2m of the proceeds of the Fundraising is intended to be used to fund an internal transformation project to provide the Group with systems utilising AI driven technologies. This will enable the Company to be a true AI adopter and innovator, acting as a live real case study of best practice to customers. Rather than drawing the Group's existing Bank facility, a further £2m will be used to meet the contingent earnout payment due in August 2024 in relation to the acquisition of Truststream Security Solutions Limited. |
Hybridan Small Cap Feast: 07/06/2024
SysGroup 34.5p £16.9m (SYS.L)
The technology partner for delivery and management of cloud, data and security to power Artificial Intelligence and Machine Learning transformation, announces that further to the announcement at 5:11 p.m. on 6 June 2024, it has successfully conditionally completed and closed the conditional oversubscribed Placing and Subscription to raise gross proceeds of £11m at an issue price of 33p per share. Approximately £2m of the proceeds of the Fundraising is intended to be used to fund an internal transformation project to provide the Group with systems utilising AI driven technologies. This will enable the Company to be a true AI adopter and innovator, acting as a live real case study of best practice to customers. Rather than drawing the Group's existing Bank facility, a further £2m will be used to meet the contingent earnout payment due in August 2024 in relation to the acquisition of Truststream Security Solutions Limited. |
Agreed hastings - I'm also happy with this oversubscribed fundraising, particularly with the price at 33p. It looks like the market is rather supportive of the new guy's plans re AI and ML.
Good to see substantial Boardroom buying in the placing, with almost 1.25m shares being taken up by directors and the company secretary, i.e over £400,000. Plus the new NED and senior management are putting in another £220,000.
The RNS does mention that the money is intended partly to be used to fund acquisitions, so there may be news on this front at some point soon. |
Retail offer. 33p.
The Retail Offer will be open to eligible investors in the United Kingdom at 8:00 a.m. on 7 June 2024. The Retail Offer is expected to close at 4:30 p.m. on 13 June 2024. Investors should note that financial intermediaries may have earlier closing times. The Retail Offer may close early if it is oversubscribed. |
Heejae Chae, Executive Chairman, commented: "We are pleased with the level of support from our existing shareholders and are delighted to welcome a number of new investors to the register who share our vision for the business in its next stage of growth. We trust that the Retail Offer provides smaller shareholders the opportunity to participate also." |
 6 June 2024
SysGroup plc ("SysGroup", the "Group" or the "Company")
Proposed Fundraising to raise approximately £10 million
SysGroup (AIM:SYS) the technology partner for delivery and management of cloud, data and security services to power Artificial Intelligence ("AI") and Machine Learning ("ML") transformation, is delighted to announce a proposed fundraising to conditionally raise approximately £10 million (before expenses) at a price of 33 pence per New Ordinary Share from new and existing Shareholders.
KEY HIGHLIGHTS
· Proposed equity fundraising of approximately £10 million, comprising of a conditional Placing and a conditional Subscription, as well as a conditional Retail Offer to raise up to a further £0.5 million
· Placing to be conducted by way of an ABB launching immediately following this Announcement
· Retail Offer to be launched following the close of the ABB on the BookBuild Platform
· Net proceeds of the proposed Fundraise will be used to fund an internal transformation project, strengthen the balance sheet to provide for ongoing working capital requirements as the business continues to drive growth, as well as liquidity for M&A opportunities, whilst ensuring that the Company remains compliant at all times with its obligations under its existing financing arrangements
· Issue Price of 33 pence per Fundraising Share
· Management to provide an investor presentation at 11:00 a.m. on 10 June 2024
· A General Meeting of the Company's Shareholders will take place at 1:00 p.m. on 24 June 2024
· Zeus is acting as Nominated Adviser, Sole Broker and Bookrunner to the Company in connection with the Fundraise
The Issue Price represents a discount of approximately 5.7 per cent. to the Closing Price of 35.0 pence per Ordinary Share on 5 June 2024, being the last practicable date prior to announcement of the Fundraising.
In addition, each of the Directors, the Company Secretary and certain sophisticated investors have indicated an intention to subscribe for New Ordinary Shares as part of the Subscription.
=============================
7 June 2024
SysGroup plc ("SysGroup", the "Group" or the "Company")
Result of Oversubscribed Placing and Subscription
SysGroup (AIM:SYS) the technology partner for delivery and management of cloud, data and security to power Artificial Intelligence ("AI") and Machine Learning ("ML") transformation, announces that, further to the announcement at 5:11 p.m. on 6 June 2024 (the "Announcement"), it has successfully conditionally completed and closed the conditional oversubscribed Placing and Subscription to raise gross proceeds of £11.0 million.
The Placing has conditionally raised gross proceeds of £8.9 million through the placing of 26,939,427 new Ordinary Shares to certain institutional and other investors. The Subscription has raised a further £2.1 million through the subscription of 6,242,423 new Ordinary Shares by Directors, a PDMR and certain sophisticated investors directly with the Company, in each case at the Issue Price of 33 pence per share.
In addition to the Placing and Subscription, the Company is providing all shareholders with the opportunity to subscribe for an aggregate of up to 1,515,151 Retail Offer Shares at the Issue Price, to raise up to approximately £0.5 million. No part of the Placing or Subscription is conditional on the Retail Offer proceeding or on any minimum take-up on the Retail Offer. |
Result of Oversubscribed Placing and Subscription
SysGroup (AIM:SYS) the technology partner for delivery and management of cloud, data and security to power Artificial Intelligence ("AI") and Machine Learning ("ML") transformation, announces that, further to the announcement at 5:11 p.m. on 6 June 2024 (the "Announcement"), it has successfully conditionally completed and closed the conditional oversubscribed Placing and Subscription to raise gross proceeds of £11.0 million.
The Placing has conditionally raised gross proceeds of £8.9 million through the placing of 26,939,427 new Ordinary Shares to certain institutional and other investors. The Subscription has raised a further £2.1 million through the subscription of 6,242,423 new Ordinary Shares by Directors, a PDMR and certain sophisticated investors directly with the Company, in each case at the Issue Price of 33 pence per share.
In addition to the Placing and Subscription, the Company is providing all shareholders with the opportunity to subscribe for an aggregate of up to 1,515,151 Retail Offer Shares at the Issue Price, to raise up to approximately £0.5 million. No part of the Placing or Subscription is conditional on the Retail Offer proceeding or on any minimum take-up on the Retail Offer.
The Fundraising is conditional upon, inter alia, the approval by the Shareholders of the Fundraising Resolutions to be proposed at the General Meeting to be held at 1:00 p.m. on Monday 24 June 2024. A circular, containing further details of the Fundraising, Notice of General Meeting, proxy form and Application Form (together the "Circular") will be despatched to Shareholders today and will be available on the Company's website at hxxps://www.sysgroup.com/about-us/investor-relations/.
It is expected that Admission will occur, and that dealings will become effective on or around 8:00 a.m. on Wednesday 26 June 2024. The Placing Shares, the Subscription Shares and the Retail Offer Shares (together, the "Fundraising Shares") will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares. |
Heejae Chae, Executive Chairman, commented: "We are pleased with the level of support from our existing shareholders and are delighted to welcome a number of new investors to the register who share our vision for the business in its next stage of growth. We trust that the Retail Offer provides smaller shareholders the opportunity to participate also." |
Result of Oversubscribed Placing and Subscription
SysGroup (AIM:SYS) the technology partner for delivery and management of cloud, data and security to power Artificial Intelligence ("AI") and Machine Learning ("ML") transformation, announces that, further to the announcement at 5:11 p.m. on 6 June 2024 (the "Announcement"), it has successfully conditionally completed and closed the conditional oversubscribed Placing and Subscription to raise gross proceeds of £11.0 million.
The Placing has conditionally raised gross proceeds of £8.9 million through the placing of 26,939,427 new Ordinary Shares to certain institutional and other investors. The Subscription has raised a further £2.1 million through the subscription of 6,242,423 new Ordinary Shares by Directors, a PDMR and certain sophisticated investors directly with the Company, in each case at the Issue Price of 33 pence per share.
In addition to the Placing and Subscription, the Company is providing all shareholders with the opportunity to subscribe for an aggregate of up to 1,515,151 Retail Offer Shares at the Issue Price, to raise up to approximately £0.5 million. No part of the Placing or Subscription is conditional on the Retail Offer proceeding or on any minimum take-up on the Retail Offer.
The Fundraising is conditional upon, inter alia, the approval by the Shareholders of the Fundraising Resolutions to be proposed at the General Meeting to be held at 1:00 p.m. on Monday 24 June 2024. A circular, containing further details of the Fundraising, Notice of General Meeting, proxy form and Application Form (together the "Circular") will be despatched to Shareholders today and will be available on the Company's website at hxxps://www.sysgroup.com/about-us/investor-relations/.
It is expected that Admission will occur, and that dealings will become effective on or around 8:00 a.m. on Wednesday 26 June 2024. The Placing Shares, the Subscription Shares and the Retail Offer Shares (together, the "Fundraising Shares") will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares. |
33p I should have said |
Very happy with this morning's news and getting it away at 32p. Dilution for me is not an issue for the right reasons, which is the case here. A firmed up balance sheet providing funds to both invest and acquire.Heejae is not hanging around! |
SO, wake up and they've increased the market cap by some £10m - maybe there is some news of acquisition on the near horizon. |
Hybridan Small Cap Feast: 03/06/2024
SysGroup 35p £17.1m (SYS.L)
The technology partner for delivery and management of cloud, data and security to power Artificial Intelligence and Machine Learning transformation, announces the appointment of Davin Cushman as Non-Executive Director, effective 10 June 2024. Davin has over 25 years of experience within the technology industry. He served as CEO at Ignite Technologies, an enterprise software company, where he completed over 40 mergers and acquisitions during his decade-long tenure. Subsequently, he founded Brightrose Ventures to advise, acquire and operate software companies, with a later $100m commitment from Brentwood Associates for software acquisitions. Davin has an undergraduate degree in Politics from Princeton University and a MBA from Kellogg at Northwestern University. |
I'm sure we are gearing up for a big acquisition. Hopefully earning accretive |
New NED board member, with expertise in M&A. "His expertise in building technology companies through innovation and operational excellence, as well as his proficiency in acquiring and integrating technology companies, will greatly benefit SysGroup." |
Posting the rns so that it appears in future thread searches.
3 June 2024 SysGroup plc
("SysGroup", the "Company", or the "Group")
Board Changes
SysGroup plc (AIM:SYS), the technology partner for delivery and management of cloud, data and security to power Artificial Intelligence ("AI") and Machine Learning ("ML") transformation, is delighted to announce the appointment of Davin Cushman as Non-Executive Director, effective 10 June 2024.
Davin has over 25 years of experience within the technology industry having started his career in 1996 with enterprise application pioneer Trilogy. He served as CEO at Ignite Technologies, an enterprise software company, where he completed over 40 mergers and acquisitions during his decade-long tenure. Subsequently, he founded Brightrose Ventures to advise, acquire and operate software companies, with a later $100 million commitment from Brentwood Associates for software acquisitions. Davin has an undergraduate degree in Politics from Princeton University and a MBA from Kellogg at Northwestern University.
Heejae Chae, Executive Chairman of SysGroup, commented,
"We are delighted to welcome Davin Cushman to the Board as a Non-Executive Director. Davin has extensive experience in the technology sector and was part of hyper growth at category defining companies. His expertise in building technology companies through innovation and operational excellence, as well as his proficiency in acquiring and integrating technology companies, will greatly benefit SysGroup."
In accordance with Schedule 2(g) of the AIM rules, Davin Wallace Cushman (aged 50) holds or has held the following directorships in the last 5 years:
Current Directorships
Brightrose Ventures Limited
Cushman Management Company
BA SMG Mountain Holdings LLC
Previous Directorships
Service Management Group Limited
Services Management Group G.K.
Bsquare Corporation
ObjectStore Inc
Davin holds no shares in the Company.
There is no further information on Davin required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.
Following the appointment of Davin Cushman, the Board will comprise Heejae Chae (Executive Chairman); Owen Phillips (Chief Financial Officer); and Mike Fletcher, Mark Reilly, Paul Edwards and Davin Cushman (Non-Executive Directors). |
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