COMPANY INFORMATION DISCLOSURE

Transcription

1 Last updated: 13 th July 2015 COMPANY INFORMATION DISCLOSURE This document is available from the company website at: In conjunction with the website, this document contains all of the information which is necessary to comply with the requirements of Rule 26 of the AIM Rules for Companies Company information disclosure. BUSINESS DESCRIPTION/INVESTMENT STRATEGY Pinnacle Technology Group focuses on the business market for IT and communications services across the UK. Having grown since inception both organically and through a series of acquisitions, Pinnacle Technology offers a wide range of IT managed services and solutions including Managed Support Services; Unified Communications and Collaboration; IT Security; Voice, Broadband and Mobile Communications; Hosted Services and Infrastructure services. Pinnacle Technology operates as a value added reseller and integrator, and is focused on providing these services both as an integrated offering to the SME market- providing them with all their technology and communications needs- and more broadly to the mid-market and public sector. Having years of experience in leading edge innovation, dedicated support, and offering impartial expertise, Pinnacle is best placed to design and deliver cost effective new technology solutions for its customers. GOVERNANCE Directors Names and Biographies Dr James Dodd, Non-Executive Chairman. A member of the Securities Institute and the Institute of Physics, James is currently a member of Oriel Securities' Advisory Board, providing advice and assistance to Oriel on developing its business and relationships. James also serves on the Board of the Apollo Submarine Cable System Ltd, the joint venture between Vodafone Group plc and Alcatel-Lucent SA. James has over 30 years' experience in both public and private equity markets focusing on telecommunications and related technology industries. He has participated in many of the largest TMT financings including the privatisation of BT and other European PTTs, and the IPOs of a host of new operators such as Telewest, COLT, Orange, Energis etc. and a number of smaller IT IPO and venture fundings. James was the Founder and Chairman of ETT, a data networking company which he led through several financing rounds and which was successfully acquired by Global Telecom and Technology Inc. (OTC BB: GTLT). From 2002 to 2012, James was Co-founder and a Managing Director of Anthem

2 Corporate Finance, which successfully conducted a variety of M&A, and financing transactions in the TMT and other sectors. Nicholas Scallan, Chief Executive Officer Nicholas is Chief Executive Officer of the Pinnacle Technology Group, having been appointed CEO on 26 th March Prior to joining Pinnacle, Nicholas was most recently Director of Customer Solutions at Virgin Media Business. He spent nine years at Virgin Media, holding a number of commercial and operational roles including P&L management of the data products portfolio, customer engineering, and has overseen a number of organisational restructuring activities. Before Virgin Media, Nicholas was at Energis, responsible for broadband, data and internet related programmes. In The Netherlands he held the position of Networks Director for Enertel NV, and was involved in the sale of the business to a Dutch venture capital group. He studied Electrical Engineering at the University of Strathclyde, is a Chartered Engineer and a member of the Institute of Engineering and Technology. Dr Tom Black, Non-Executive Director. Tom is co-founder and Executive Chairman of Digital Barriers plc, an AIM-listed business focused on the surveillance sector and which operates in the global Homeland Security Market. Prior to settingup Digital Barriers in 2009, Tom spent over 20 years with Detica Group plc, following studies at the Universities of Strathclyde and Oxford. He joined the business in 1984 and was appointed Chief Executive in Tom then led the 12m management buyout of Detica in 1997 and the Group's flotation on the London Stock Exchange in April He then oversaw the acquisition of Detica by BAE Systems in 2008 for 538m. Tom is also a Non-Executive Director of Herald Investment Trust plc. Mr. Simon Duckworth, OBE DL, Non-Executive Director. Simon Duckworth, OBE DL, holds a number of non-executive positions in the public and private sectors and is currently Chairman of Barings Targeted Return Fund and the senior non-executive Board Member at the Serious Fraud Office (SFO). He was a non-executive Director of Fidelity's flagship European Investment Trust, Fidelity European Values plc, for a decade, and has sat of the Boards of a number of AIM listed companies as a non-executive director. Simon was a non-executive director of Accumuli plc from 2010 until its sale to NCC plc earlier this year. A Cambridge University graduate, Simon is a former Chairman of the City of London Police Authority and currently chairs the Economic Crime Board of the City of London Police. He worked closely with the Home Office as Chairman of the National Olympics Security Oversight Group and is a nonexecutive director of the Association of Police and Crime Commissioners. Simon is one of HM's Lieutenants for the City of London and Deputy Lieutenant for Greater London. He is also the Honorary Colonel of the Royal Military Police and holds a number of other public and charitable appointments. Board of Directors Responsibilities The board directs the group's activities in an effective manner through regular monthly board meetings and monitors performance through timely and relevant reporting procedures which enables risk to be assessed and managed. Where it deems it necessary, the board requests reports

3 on specific areas outwith the normal reporting regime. All directors have access to advice from the company secretary and, if required, independent professionals at the company s expense. Training is available for new and other directors as necessary. The non-executive directors are regarded as independent of management and any business or other relationships, which could interfere with the exercise of their independent judgement. The roles of chairman and chief executive are separate appointments and it is board policy that this will continue. The board has established two committees, the audit committee and the remuneration committee. It will also set up a nominations committee when the need arises. Membership of both the audit committee and the remuneration committee is made up of the two non-executive directors. Tom Black is chairman of the remuneration committee and James Dodd chairman of the audit committee. Under the company s articles of association, the nearest number to one third of the board shall retire each year by rotation. Committees Responsibilities and Corporate Governance The board is committed to ensuring that proper standards of corporate governance operate. As an AIM listed company the Pinnacle Technology Group is not required to comply with the principles and provisions of the UK Corporate Governance Code published by the Financial Reporting Council in September 2012, however the Board of the Company is committed to the principles of good corporate governance and follows, so far as is practicable and appropriate in view of the Group s size, stage of development and the nature of the Company the provisions of the UK Corporate Governance Code and complies with the provisions of the QCA Guidelines. UK City Code of Takeover and Mergers Pinnacle Technology Group is subject to the UK City Code on Takeover and Mergers. SHARE INFORMATION Other exchanges or trading platforms where Pinnacle Technology Group plc securities are admitted or traded: Pinnacle Technology Group plc is traded on the AIM market of the London Stock Exchange under the symbol PINN. The number of securities in issue: As at 13 th July 2015 the number of shares in issue was 59,182,558 ordinary shares of 0.01 The number of securities held as treasury shares: As at 13 th July 2015 the number of securities held in treasury shares was 0. Percentage of AIM securities not in public hands:

4 As at 13 th July 2015, the percentage of AIM securities not in public hands was 11,936,292 ordinary shares of 0.01 nominal: representing 20.17% of the issued share capital.

5 Identity and percentage holdings of Directors & significant shareholders: As of 13 th July 2015, the identity and percentage holdings of significant shareholders notified to the company was as follows: Percentage held : Living Bridge 5,918, % MXC Capital Ltd 5,918, % Dr. Tom Black (NED) 4,842, % Dr. James Dodd (Chairman, NED) 4,065, % Octopus Investments 3,221, % A J Bonner 2,740, % Hargreave Hale 2,533, % D. Giddens 2,343, % Herald Investment Management Ltd. 2,224, % Huntingtower Capital 1,840, % P Goodland 1,782, % Sir David Jones CBE 1,680, % Other: Nicholas Scallan 684, % (NED: Non-executive Director) Details of any restrictions on the transfer of AIM Securities: There are no restrictions on the transfer of Pinnacle Technology Group plc securities.

6 CONTACTS & ADVISORS Country of Incorporation: Directors: Pinnacle Technology Group plc is incorporated in England and Wales. Registered Office: Pinnacle Technology Group plc 5 Fleet Place London EC4M 7RD Nominated Advisor & Broker: Solicitors: Other Key Advisors: Bankers: Main Country of Operation: Its main country of operation is the United Kingdom. Dr James Dodd, Non-Executive Chairman Nicholas B.T. Scallan, Chief Executive Officer Dr Tom Black, Non-Executive Director Mr Simon Duckworth OBE DL, Non-Executive Director Registration Number: N+1 Singer One Bartholomew Lane London EC2N 2AX Wright, Johnston & Mackenzie LLP Solicitors 18 Charlotte Square Edinburgh EH2 4DF Charles Russell LLP 5 Fleet Place London EC4 MRD HSBC Bank plc, Commercial Centre, St Clair House, Old Bedford Road, Northampton, NN4 7AA Auditors & Reporting Accountants: Registrars: Investor Relations: Smith & Williamson, 25 Moorgate, London, EC2R 6AY Computershare Investor Services plc. The Pavilions Bridgwater Road. Bristol BS13 8AE Dr James Dodd, Non-Executive Chairman Nicholas Scallan, Chief Executive Officer