Business
CEO Suspension
CEO Suspension.
About this update from Big Technologies Plc
[{"type":"text","content":"\n\n18 March 2025\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.\n \nBig Technologies plc\n(\"Big Technologies\" or the \"Company\" and the \"Group\")\n\nCEO Suspension\nBig Technologies plc, the UK-based remote people monitoring technology company, announces that owing to concerns in respect of Sara Murray's conduct which have recently become apparent in connection with the subject matter and conduct of the Litigation (defined below) following proactive steps taken, under the lead of Alexander Brennan, Interim Chairman of Big Technologies, the Company will undertake further investigations. Whilst those investigations are underway the Board has resolved to suspend Sara Murray from her role as Chief Executive Officer with immediate effect.\nAs previously announced, the Company continues to defend a claim filed with the High Court of Justice of England and Wales in 2023. The claim has been brought by a small number of former shareholders in Buddi Limited, a subsidiary of the Company, relating to the acquisition of Buddi Limited, dating back to 2018 (the \"Litigation\"). The Company continues to review its position and to take advice from its Legal Counsel in connection with all aspects of the Litigation and the Board will provide further updates in relation to the Litigation as necessary.\nDuring the period of Sara Murray's suspension, Daren Morris, the current Chief Financial Officer of the Company will assume the role and responsibilities of interim Chief Executive Officer to provide leadership and ensure business continuity.\n \nCharles Lewinton in his role as Chief Operating Officer will continue to work with Daren Morris to ensure operational continuity.\n \nCurrent Trading and Outlook\nThe Group has had a positive start to the financial year and continues to perform in line with current market expectations*. The Group had cash balances in excess of £100 million as at the end of February 2025.\nAs stated in the Trading Update which the Company announced on 28 January 2025, visibility on the base-level of business for 202...