Business
Directorate Change and Strategic Update
Directorate Change and Strategic Update.
About this update from Touchstar Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (\"MAR\"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \nTouchstar plc\n \n(the \"Company\", \"Touchstar\" or the \"Group\")\n \nDirectorate Change and Strategic Update\n \nThe Board announce the first action designed to accelerate the rate of development of the business\n \nLynden Jones to succeed Mark Hardy as Chief Executive Officer (CEO)\n \nCompany reaffirms it expects 2025 to be a year of revenue growth and increased profitability\n \nTouchstar plc (AIM: TST), suppliers of mobile data computing solutions and managed services to a variety of industrial sectors, is pleased to announce today, following the conclusion of the strategic review, the first stage of the plan to build beyond the operational and financial performance of the Group. The objective of the plan is to accelerate to the next stage of development, increase the underlying value of the business and enhance returns to shareholders.\n \nThe four drivers of the plan, further details of which will be incorporated in the announcement of the financial results for the year ended 31 December 2024 expected in the week commencing 28 April 2025, are to:\n \n· increase the rate of organic growth through further investment in the fuel delivery business in overseas markets and building on the ability of the Group's technology platform and solutions to be applied in a wider range of vertical sectors;\n· change the management team to facilitate the execution of this;\n· increase the Company's marketing and promotional activities; and\n· return the surplus cash to shareholders with the intention of returning up to £1 million over the next year through either share buybacks in addition to dividend payments.\n \nThe initial step in this plan is the appointment of Lynden Jones as a Director of the Company with immediate effect. Lynden will succeed Mark Hardy as CEO on 1 July 2...