Business
Proposed Move to AIM and appo
Proposed Move to AIM and appo.
About this update from Gb Group Plc
[{"type":"text","content":"\n RNS Number : 7824O GB Group PLC 05 July 2010 \n \n\n \n \n\n\n\n\n\n\n\n5 July 2010\n\n\n\n\n \nGB GROUP PLC \n \n(\"GB\" or the \"Group\")\n \nProposed Move to AIM, appointment of New Non-Executive Director and Proposed Amendments to \nShare Option Schemes\n \nGB, the UK's leading identity management business, is pleased to announce its intention to transfer the admission of its Ordinary Shares to AIM from the Official List and trading on the London Stock Exchange's main market for listed securities, the appointment of David Rasche as a Non-Executive Director to the Board with effect from 1 September 2010 and its intention to make certain changes to the Company's employee incentivisation arrangements.\n \nHighlights\n \n· Building on the foundations laid over recent years, the Board is focusing on the next stage of GB's development which is to accelerate revenue growth both organically and potentially through acquisition. \n \n· The Board believes that AIM has the benefit of lower transactional costs, similar ongoing costs and simpler administration and regulatory requirements more appropriate to a company of GB's size, which will make the implementation of GB's plans for the next stage of growth easier. \n \n· The appointment of David Rasche, who has a wealth of experience through his involvement in senior positions in the technology sector, as a Non-Executive Director will strengthen the Board.\n \n· The Board believes that the amendments to the Company's employee incentivisation scheme will allow senior management and employees be rewarded in accordance with the performance of the Company and will encourage them to identify their interests with those of the Company's shareholders.\n \n Richard Law, Chief Executive of GB, commented:\n \n\"I am delighted to welcome David Rasche as a non executive director. He has an outstanding record of success in the technology sector and in growing businesses rapidly through organic growth and acquisition. I am sure GB will benefit immensely from his experience and counsel.\n \n\"David's appointment and the other moves announced today are designed to help GB build on the strong foundations laid ov...