Name Change, Directorate Changes, Adviser Change
22 August 2016
Messaging International plc
("MI" or the "Company")
Change of Name to SigmaRoc plc
Directorate Changes and appointment of CEO
Change of Adviser
Further to the announcement made earlier today, the Company is pleased to announce that its change of name to SigmaRoc plc is expected to become effective on 24 August 2016 and reflects the new investment strategy to invest in and/or acquire companies and/or projects within the construction materials sector, which are either cash flow generative or show significant potential for growth and a profitable exit.
Furthermore, the Company announces the appointment, to its board of directors (the "Board"), of Max Vermoken as Chief Executive Officer, and David Barrett and Dominic Traynor, as non-executive directors, with immediate effect. Horacio Furman, Irvin Fishman and David Rubner have resigned from the Board with immediate effect. In addition, Guy Levit has stepped down as Chief Executive Officer of the Company, however, he will remain on the Board as an executive director until the Company has released its interim results for the six months ended 30 June 2016.
The Company is also pleased to announce the appointment of Strand Hanson Limited as its nominated adviser with immediate effect.
SigmaRoc Strategy
The Company's investment strategy is to invest in and/or acquire companies and/or projects within the construction materials sector. It is anticipated that the geographical focus will primarily be frontier and niche markets such as Africa and the Middle East as well as certain European regions, where the Company's smaller size and resultant nimbleness is expected to provide a competitive advantage in a sector dominated by major industry players (particularly in more developed economies).
In selecting investment and/or acquisition opportunities, SigmaRoc will focus on three types of business:
· businesses, assets and/or projects in markets where anticipated structural change can lead to growth or consolidation within the construction materials sector;
· businesses which present a steady cash flow opportunity allowing the Board to build a baseline income to sustain its further expansion projects; and
· businesses or projects which present a clear opportunity for the Board to take advantage of cyclical weakness within established production majors.
Director Appointments
Max Vermorken has been appointed as the Chief Executive Officer of the Company. Max was most recently a strategic advisor to LafargeHolcim Ltd ("LafargeHolcim"), the world's largest construction materials group. His last role included responsibility for the hive-down and integration of two large asset portfolios - a mix which included two cement plants and a multitude of down-stream aggregates and construction materials assets - in the context of the global merger of Lafarge SA and Holcim Ltd. Prior to working for LafargeHolcim, Max worked in private equity at Luxembourg-headquartered The Genii Group, were he reported directly to its founding principals. Max holds a PhD in Financial Economics from University College London and Bachelor and Master degrees in both Civil Engineering and Financial Economics and Management, from University College London and the University of Brussels respectively.
David Barrett has been appointed as a Non-Executive Director of the Company. David co-founded London Concrete Limited ("London Concrete") in 1997, subsequently building the business from one concrete plant in London to over a dozen plants around the capital. London Concrete was ultimately sold to Aggregate Industries UK Limited and is currently the number one concrete supplier in London, with flagship projects including the London Olympic Park, the Shard, the US Embassy and the new Bloomberg building. Prior to co-founding London Concrete, David worked at Pioneer Concrete. David retired from London Concrete in 2015 and is widely considered an expert in the industry.
Dominic Traynor has also been appointed as a Non-Executive Director of the Company. Dominic is a corporate lawyer specialising in listings and takeovers, M&A and corporate finance. Dominic has acted on more than 20 AIM-admissions as well as numerous reverse takeovers, other acquisitions, joint ventures and secondary fundraisings, with a particular focus on the mining and oil and gas sectors. Dominic graduated from Durham University in 1997 with a degree in Law and, after completing the LPC at the College of Law in York, joined Ronaldsons LLP, where he is currently a Partner, as a trainee in 1998 qualifying in 2000.
The following information is disclosed pursuant to Schedule 2(g) of the AIM Rules for Companies:
Maximilian Alphonos Marin Vermorken (aged 32)
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Current directorships |
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Past directorships (last 5 years) |
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Skyeye Consulting Limited |
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Skyeye Capital Limited |
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Reel Raise Limited |
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David Kenneth Barrett (aged 58)
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Current directorships |
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Past directorships (last 5 years) |
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Hough Estates (Management) Limited |
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London Concrete Limited |
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Thames Aggregates Limited |
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Chiltern Green Homes Limited |
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Thames Recycling Limited |
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Dominic Traynor (aged 40)
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Current directorships |
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Past directorships (last 5 years) |
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Millenium Trading Limited |
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Vantage Biofuel Production Limited |
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Accloud plc |
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Watermark Global Limited |
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Ecoretyre Limited |
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Odye Group Limited |
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Metallum Portfolio Limited |
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Odye Services Limited |
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Cracking Limited |
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Odye (Oman) Limited |
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Ausinox plc |
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Odye Limited |
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Wildcat Investments Limited |
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PS Africa Minerals Limited |
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Georgian Copper & Gold Limited |
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Celebre Art Limited |
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Exploration Minerals Limited |
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Arctic & Equatorial Drilling Service |
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Tau Mining Limited |
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Shellsite Limited |
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Ronaldsons LLP |
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Handirack UK Limited |
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Spitfire Materials Ltd |
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New Horizons Energy Limited |
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Global Oil Shale Holdings Inc |
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Running River plc |
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Larkswood Limited |
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ODYE Ltd |
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London Gulf Partners Limited |
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ODYE Africa Ltd |
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D&B Cooper Limited |
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Old Park Lane Investments Ltd |
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African Mining & Exploration Limited |
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Sigmaroc Ltd |
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Aridos Mengibar UK Limited |
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LIP Investments Ltd |
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Salvador Investments Limited |
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City Ideas Ltd |
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Monumentum Limited
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Bloomsbury Company Secretaries Ltd |
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Bloomsbury Nominees Ltd |
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London Commodity Traders Ltd |
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There is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies.
Change of Name
The Company confirms that application is being made for the change in the Company's name to SigmaRoc plc and it is expected to become effective and that trading in the Company's shares on AIM under this new name and TIDM (SRC) will commence at 8:00 a.m. on 24 August 2016. The Company's new ISIN will be GB00BDBY9264. In addition, the Company's new website address will change to www.sigmaroc.com tomorrow.
Change of Adviser
The Company is also pleased to announce the appointment of Strand Hanson Limited as Nominated Adviser with immediate effect.
Change of Registered Address
The Company also announces that application has been made for a change in the Company's registered address to 47 Charles Street London, W1J 5EL.
-Ends-
For further information, please contact:
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SigmaRoc Limited |
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Max Vermorken |
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+44(0)20 7193 4470 |
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Strand Hanson Limited (Nominated and Financial Adviser) |
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+44(0)20 7409 3494 |
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James Spinney |
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James Dance |
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Peterhouse Corporate Finance Limited (Broker) |
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+44(0)20 7469 0930 |
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Eran Zucker Lucy Williams Duncan Vasey
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Tavistock ((Public Relations adviser) +44 20 7920 31510
Jos Simson
Edward Portman
Barney Hayward
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
This information is provided by RNS
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