Nakama Group Plc Trading and corporate update and Board change (2865U)
July 11 2018 - 4:13AM
UK Regulatory
TIDMNAK
RNS Number : 2865U
Nakama Group Plc
11 July 2018
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
11 July 2018
Nakama Group plc
("Nakama" or the "Group")
Trading and corporate update and Board change
Nakama Group plc, the AIM quoted recruitment consultancy working
across UK, Europe, Asia and Australia providing recruitment and
related services for the web, interactive, digital media, IT and
business change sectors, expects to announce its annual results for
the year ended 31 March 2018 during September 2018.
Further to the trading update released on 27 February 2018 and
the subsequent corporate updates announced on 9 April and 25 May
2018, the Board is pleased to note that the decisive actions taken
by the management team are starting to produce results.
Accordingly, although trading during the first three months of the
financial year has been flat year-on-year, Nakama has seen a return
to profitability in a number of the subsidiaries and, therefore,
the Group is trading in line with the Board's expectations.
The improved trading performance seen in other subsidiaries has
not, however, been replicated in the Group's Melbourne based
subsidiary and the Group has taken the decision to cease trading in
Nakama Melbourne Pty Limited. As such the Board has today resolved
to place Nakama Melbourne Pty Limited into Creditors' Voluntary
Liquidation and is in the process of appointing a liquidator to
assist with this process. The liquidation of the Melbourne
subsidiary will reduce the Group's liabilities in respect of the
amounts owed to the Australian Tax Office by approximately
AUS$190,000.
Board change and update
Paul Goodship has resigned his role as the Managing Director of
the Nakama London business and a Board Director. Paul will remain
with the Group until later in the year but will step down from the
Board with immediate effect. Paul was a founding member of the
business and has lead the business in London since October
2009.
The Board is in advanced discussions regarding the appointment
of a non-executive director (subject to completing due diligence).
The identified individual is a financial professional with a long
career in senior financial management roles in the UK and overseas
with exposure to international markets and a background in a
complimentary sector to the Nakama business which will add real
depth and value to the Board. The Board looks forward to updating
the market shortly.
In addition, Chief Executive Officer, Andrea Williams, who is
currently based in Dubai will be relocating back to the UK in
September this year in order to focus on growing the business in
the strategically important UK market.
Paul Goodship commented: "I have had the pleasure of founding
and working in the Nakama business for nine years and will follow
its successes with interest. I am fully supportive of the CEO and
Board on their plans for the future and would like to thank them
and all of the broader Nakama family for all their efforts and
support during my tenure."
Tim Sheffield said: "I would like to take this opportunity to
thank Paul for his contribution to Nakama and for his many
achievements since founding the company in 2009. We wish him every
success in the future."
Enquiries:
Nakama Group plc www.nakamaglobal.com
Andrea Williams, CEO 00 971 5060 43366
Tim Sheffield, Chairman 00 44 20 7236 2400
Allenby Capital Limited www.allenbycapital.com
Virginia Bull / Nick Naylor (Nominated 00 44 20 3328 5656
Adviser)
Notes to Editors
Nakama Group plc is a recruitment group of two branded solutions
placing people into specialist and management positions;
-- Nakama operates in the digital, creative, media, marketing
and technology sectors all over the world from offices in the UK,
Asia and Australia.
-- The Highams brand specialises in the Financial Services
sector, specifically Business Change and IT in Insurance and Wealth
Management currently in the UK and Europe.
Nakama Group plc was created in October 2011 through the
acquisition of Nakama Ltd UK and its subsidiaries in Hong Kong,
Singapore and Sydney by AIM listed Highams Systems Services Group
plc.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCUAAWRWAABARR
(END) Dow Jones Newswires
July 11, 2018 04:13 ET (08:13 GMT)
Ridgecrest (LSE:RDGC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ridgecrest (LSE:RDGC)
Historical Stock Chart
From Apr 2023 to Apr 2024