Business
Statement re Mach49 LLC
Statement re Mach49 LLC.
About this update from Next 15 Group Plc
[{"type":"text","content":"\n\n \n \n \n\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.\n\n\nNext 15 Group plc\n\n\n(\"Next 15\")\n\n\nStatement RE: Mach49 LLC (\"Mach49\")\n\n\nNext 15, the tech and data-driven growth consultancy, has been working to assess the final earnout payment due to be made in connection with its acquisition of Mach49. Through this process, Next 15 has become aware of potential serious misconduct concerning the Mach49 business.\n\n\nAs a consequence, Next 15 has terminated the employment of three members of the senior management at Mach49 – Linda Yates, Russ Lampert and Paul Holland. David Charpie, currently co-CEO of Mach49, will become sole CEO with immediate effect.\n\n\nNext 15, on behalf of Mach49, is in the process of reporting the matters to relevant law enforcement agencies. It is too early to know the outcome, but Next 15 will ensure that full co-operation is provided to those agencies.\n\n\nAs a result of the potential misconduct, Next 15 will not make any further payment to Mach49's selling shareholder under the earnout agreement. The ultimate earnout position may only be finally determined following the outcome of legal proceedings.\n\n\nNext 15 will make further announcements as appropriate.\n\n\nEnquiries:\n\n\n\n\nNext 15 Group plc\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nDeutsche Numis (Nomad & Joint Broker)\n\n\n\n\nMark Lander\n\n\n\n\nHugo Rubinstein\n\n\n\n\nGeorge De Felice\n\n\n\n\n \n\n\n\n\n\n\n+ 44 (0)20 7260 1000\n\n\n\n\n\n\n\n\nBerenberg (Joint Broker)\n\n\n\n\nBen Wright\n\n\n\n\nMark Whitmore\n\n\n\n\n \n\n\n\n\nBrunswick – for media enquiries\n\n\n\n\nPaul Durman\n\n\n\n\nImran Jina\n\n\n\n\n \n\n\n\n\nMHP Group – for investor enquiries\n\n\n\n\n\n\n+44 (0)20 3207 7800\n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n+44 (0)7793 522824\n\n\n\n\n+44 (0)7587 037076\n\n\n\n\n \n\n\n\n\n \n\n\n\n\n\n\n\n\nOliver Hughes\n\n\n\n\nEleni Menikou\n\n\n\n\nVeronica Farah\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n+44 (0)7885 224532\n\n\n\n\n+44 (0)7701 308818\n\n\n\n\n \n\n\n\n\n\n\n\nThe person responsible for making this announcement on behalf of Next 15 is Mark Sanford, Company Secretary.\n\...