SYS mentioned at 21.50 on Vox interview with Gresham House fundie - 13/9/24 |
 21 August 2024
SysGroup plc
Grant of Options and Director/PDMR Dealings
SysGroup plc (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, announces that on 20 August 2024 the Remuneration Committee of the Board of Directors made share awards over 2,489,846 ordinary shares of £0.01 each under the SysGroup plc Performance Share Plan ("PSP") and 300 conditional share awards under the SysGroup plc Value Creation Plan ("VCP") (together, the "Plans"). These Plans were approved by shareholders at the general meeting on 24 June 2024 and have subsequently been adopted by the Board.
The structure of the Plans is as set out in the announcement made by the Group on 6 June 2024.
Under the VCP, participants will subscribe to conditional share awards, which consist of A ordinary shares of £0.01 each in a wholly owned subsidiary holding company, SysGroup Holding (No 1) Limited (company number 15880286). The subscription price for these shares has been determined based on the Unrestricted Market Value of the shares, as calculated by an independent adviser, for UK tax PAYE best estimate purposes.
Participants in the VCP have also received awards under the PSP which take the form of nil cost options over ordinary shares in the Company, and which vest subject to performance against financial targets over a three year period. The PSP awards will not be exercisable until 26 June 2029, the measurement date of the VCP. If the VCP awards vest, a corresponding reduction will be made to the number of shares that vest under the PSP awards to ensure that participants benefit from only one of the Plans. |
hastings, more often than not share price returns to placing price!
Could be a tip, could be insider buying.
Good to see share price supported at this level. |
Flurry of buying early doors, tipped somewhere! |
bamboo2,
Not sure I follow your logic, HC had an opportunity to add or avoid dilution during the fund raising and chose not to. Why would he subsequently buy in the market?
He is also a participant in the very generous VCP & PSP incentive schemes should the company perform over the next few years so potentially stands to increase his % holding via those schemes. |
I believe that is correct bamboo2, so it wouldn't be a surprise to see him adding or for that matter other Directors dipping a toe in too! |
FWIW, could be wrong, but I have an idea that HC's holding was diluted during the recent placing.
My records showing that despite adding more shares, he has gone from 14.2% to 9.3%
Assuming these figures are correct, I had wondered if he would be adding once the close period was over. |
Looking very good |
Heejae Chae, Executive Chairman, SysGroup Group, said:
"Over the past year, the Group has completely transformed its strategy, execution and leadership. Since acquiring a 14% share and becoming the Executive Chairman, we have repositioned the Company as the preferred technology partner for Small Medium Businesses in their AI and digital transformation efforts. AI will have a significant impact on businesses and represents a key opportunity for transformation. Our goal is to guide SMBs through the complex AI value chain and support their transformation journey from start to finish.
We raised £11.2 million through an oversubscribed equity raise to accelerate our growth and innovation. We have invested in additional R&D resources, including offshore capabilities in India and Eastern Europe. In order to showcase the impact of AI transformation, we are implementing 31 use cases internally to transform SysGroup to demonstrate the benefits of AI. This will allow us to serve as a live case study of best practices for our customers and achieve significant productivity gain. Additionally, we are actively seeking complementary acquisitions to expand our technical capabilities and customer base.
I am very excited about the Company's potential and future prospects. AI will be the transformational technology of our generation and will continue to gather momentum as the technology improves and benefits are crystallised. As with any innovation, its adoption will not be a straight line and will follow a J-curve. Our mission is to inform and support British SMBs which accounts for 99.2% of total business population in this journey. |
31 July 2024
SysGroup plc
("SysGroup" or the "Group" or the "Company")
Final results for the year ended 31 March 2024
Well positioned for the future with a strong balance sheet to accelerate growth and innovation
SysGroup plc (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, today announces its annual audited financial results for the year ended 31 March 2024 ("FY24" or "Period").
Financial Highlights
· Revenue grew 5% to £22.7m (FY23: £21.6m) driven by growth in H2 in cybersecurity
· Recurring revenue as a % of total revenue increased to 76% (FY23: 75%)
· Gross margin declined to 46% (FY23: 50%) due to unmitigated supplier cost increases combined with a change in product mix
· Adjusted EBITDA1 £2.0m (FY23: £3.1m2) driven by substantial investment in people and systems to support our new growth strategy coupled with gross margin decrease
· Statutory loss before tax of £(6.6)m (FY23: £(0.3)m 2) driven in part by £1.8m exceptional costs (FY23: £0.4m) including upgrade of the leadership team, and £3.7m impairment of historic acquisitions (FY23: £nil), as part of the implementation of the new strategy
· Net debt3 of £3.4m (FY23: £1.3m); increase due to payment of Truststream acquisition earn-out and settlement with former CEO
Strategic & Organisational Highlights
· Heejae Chae acquired 14% share interest and was appointed Executive Chairman
· Repositioned as technology partner for Small Medium Businesses ("SMBs") in their AI and digital transformation
· Replaced 11 senior leaders (including CEO and CFO) with 6 new talents
· Recruited an AI team of software engineers with extensive experience in ML and data architecture and a team of cloud experts
· Rebuilding of go-to-market organisation
· Refreshed the Board with seasoned professionals with extensive and relevant experience
· Achieved AWS Select Tier Service Partner status (Level 2)
· Announced a strategic partnership with Softcat to become their designated outsource partner for AI/ML offerings
Post Balance Sheet Highlights
· Raised £11.2m in oversubscribed equity placing to fund an internal transformation project, strengthen the balance sheet to provide for ongoing working capital requirements and liquidity for acquisitions
· Closed the second largest contract in SysGroup's history totalling £2.2m over three years
· Progressed to AWS Advanced Tier Service Partners stratus (Level 3) qualifying for fundings and joint sales and marketing
· Authorised as one of only two UK Zscaler Managed Security Service Partners
1) Adjusted EBITDA is earnings before interest, taxes, depreciation, impairments and amortization of intangible assets, exceptional items, and share based payments
2) Includes prior year adjustment. See accounting policies note within financial statements
3) Net debt represents cash balances less bank loans and leases liabilities
Heejae Chae, Executive Chairman, SysGroup Group, said:
"Over the past year, the Group has completely transformed its strategy, execution and leadership. Since acquiring a 14% share and becoming the Executive Chairman, we have repositioned the Company as the preferred technology partner for Small Medium Businesses in their AI and digital transformation efforts. AI will have a significant impact on businesses and represents a key opportunity for transformation. Our goal is to guide SMBs through the complex AI value chain and support their transformation journey from start to finish.
We raised £11.2 million through an oversubscribed equity raise to accelerate our growth and innovation. We have invested in additional R&D resources, including offshore capabilities in India and Eastern Europe. In order to showcase the impact of AI transformation, we are implementing 31 use cases internally to transform SysGroup to demonstrate the benefits of AI. This will allow us to serve as a live case study of best practices for our customers and achieve significant productivity gain. Additionally, we are actively seeking complementary acquisitions to expand our technical capabilities and customer base.
I am very excited about the Company's potential and future prospects. AI will be the transformational technology of our generation and will continue to gather momentum as the technology improves and benefits are crystallised. As with any innovation, its adoption will not be a straight line and will follow a J-curve. Our mission is to inform and support British SMBs which accounts for 99.2% of total business population in this journey. |
24 July 2024
SysGroup plc
("SysGroup", or the "Group")
Notice of Results
SysGroup (AIM:SYS), the technology partner for delivery and management of cloud, data and security services to power Artificial Intelligence and Machine Learning transformation, is pleased to announce that, it will release its Final Results for the period ended 31 March 2024 on 31 July 2024. |
A bit more trade activity today, perhaps the post raise flippers have finished.
Note SCT share price has taken a dive. The bb suggesting a downgrade is responsible.
Post 1 updated. |
Amusing/interesting given that is Nat Rothschild’s vehicle, Nat Rothschild who controls and runs Volex…….where Heejae Chae was a previous CEO. |
NR Holdings has 3.62%. |
rivaldo, thanks, I had not noticed the TR-1
Once the dust settles from the placing, I'll update changes to holding record on post 1 and header. |
Nice - Nat Rothschild has taken a 3.62% stake in SYS through his vehicle NR Holdings Ltd, buying 3m shares: |
14 June 2024
SysGroup plc
("SysGroup", the "Group", or the "Company")
Result of Retail Offer
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 pleased to announce that the Retail Offer launched on 7 June 2024 has raised in aggregate £0.3 million through the issuance of 837,157 Retail Offer Shares at a price of 33 pence per share.
Accordingly, the Company has conditionally raised total gross proceeds of approximately £11.3 million in aggregate by way of the Placing, the Subscription and the Retail Offer.
A separate announcement will be made following the General Meeting as to the results of the General Meeting and the total voting rights following Admission.
Admission
Application will be made to the London Stock Exchange for admission of the New Ordinary Shares to trading on AIM ("Admission"). It is expected that, subject to the necessary resolutions being passed at the General Meeting, Admission will become effective and dealings in the New Ordinary Shares will commence at 8.00 a.m. on 26 June 2024.
Admission is conditional, inter alia, upon Admission becoming effective, the Placing Agreement not having been terminated and becoming unconditional, and upon the approval of Shareholders at the Company's forthcoming General Meeting to be held at 1:00 p.m. on 24 June 2024. |
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. |
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